The Money Pit.

“Hillary Clinton ended January with $7.6 million in debt – not including the $5 million personal loan she gave to her campaign in the run-up to the critical Super Tuesday elections, according to financial reports released Wednesday.” With the January FEC reports filed, Politico takes a look at the sinking fiscal ship that is the Clinton campaign. The key graphs: “According to the reports, Clinton raised about $20 million in January, including her loan. She spent nearly $29 million during the month. She reported a cash balance of $29 million. But more than $20 million of that is money dedicated to the general election. Her personal loan accounts for more than half of the remaining approximately $9 million, leaving just about $4 million in cash raised from donors. But even that money is illusionary when measured against the reported $7.6 million in debts.” So add that all up and you get: no money. (Hence, the fatcat 527.) But the silver lining for Sen. Clinton? At least she’s making interest on that loan.

Over at TNR, Christopher Orr emphasizes this finding from the piece: “More than $2 million of the red ink is owed to chief consultant and adviser, Mark Penn.” So that goes a long way toward explaining why he’s still employed over there these days, despite his obvious incompetence.

And a commenter in the same TNR thread teases out another key line buried in the article: “[T]he lengthy laundry list of IOUs also includes unpaid bills ranging from insurance coverage, phone banking, printing and catering at events in Iowa, New Hampshire and California.” Wait a tic: Sen. Clinton, she of the much-touted mandate, is now ducking the insurance bills? Hmm…maybe affordability is the real problem after all.

Update: Politico‘s Kenneth Vogel has more on where the money went, including $10 million to Mark Penn and $1300 to Dunkin Donuts.

Update 2: The NYT piles on the terrible financing issue: “Senator Hillary Rodham Clinton’s latest campaign finance report, published Wednesday night, appeared even to her most stalwart supporters and donors to be a road map of her political and management failings…’We didn’t raise all of this money to keep paying consultants who have pursued basically the wrong strategy for a year now,’ said a prominent New York donor. ‘So much about her campaign needs to change — but it may be too late.‘”

Labor and Supers Swell the Ranks.

“‘Sen. Obama will fight for better wages, real health care reform, stronger retirement security, fair trade and an end to the outsourcing of good jobs,’ said Hoffa. ‘He understands the importance of giving workers a voice at work and will fight for strong unions to help rebuild America’s middle class.’” The Teamsters, 1.4 million strong, back Barack Obama, as does the 65,000-member International Brotherhood of Boilermakers. (The Change to Win labor consortium may follow suit tomorrow, although four of its seven member unions already back the Senator.) Meanwhile, Sen. Obama picked up four more superdelegates today: Ron Kind of WI (who said he’d follow his district), Lloyd Doggett of TX, and Dana Redd and Donald Norcross of NJ. (Redd had previously backed Clinton, meaning today’s superdelegate swing was 5.) Update: Change to Win backs Obama, although the three unions not already supporting the Senator abstained from voting: “[T]he three unions released the federation to work for Obama in the upcoming primaries and caucuses.“

Losing Ugly.

As I noted last night, the delegate math would now appear to be out of reach for Sen. Clinton. But, from setting up an anti-Obama 527 to launching a new website aimed at changing the rules to the candidate’s “new” “time to get real” speech, the Clinton campaign looks to go down swinging. In related news, John McCain says pass the popcorn. Update: That 527 has its first ad ready to go in Ohio.

Mahalo, Hawaii.

“It is the place where I feel if things get too hectic, I can come back and get centered, and it will always be in my heart, and I hope if we are successful, I would come to Hawaii. Certainly it would be my preference over Crawford, Texas.” And No. 10: Sen. Obama crushes Hillary Clinton in the home state of his youth, 76%-24%.

Wisco is Disco.

No. 9, No. 9, No. 9…Sen. Barack Obama wins Wisconsin, the land of Feingold and the La Follettes, going away (58%-41%), and eats even deeper into Sen. Clinton’s core constituencies.

Next up, two debates, then the line in the sand: March 4, Ohio, Texas, Rhode Island, and Vermont. These are huge and crucial states, and they will dictate how much longer Sen. Obama has to face a debilitating two-front war. But, I might as well come clean. I’ve been saying this elsewhere since the Potomac primaries, and now I’ll go ahead and say it here: The math is virtually inexorable now, and Sen. Clinton has lost. Her campaign even conceded thus a week ago. It’s now just a question of how badly she and her campaign wants Obama to bleed before she drops out. (To his credit, Mitt Romney got out early so as not to hamstring his party’s candidate in the general. Sadly, I doubt we can expect the same of Sen. Clinton.)

This is not to say Ohioans, Texans, Rhode Islanders, and Vermonters, to say nothing of Pennsylvanians, Kentuckians, North Carolinians, etc., should now become complacent. Far from it — now’s the time to redouble our efforts, and end this race, sooner rather than later. The tide has turned, and, to quote my former employer (who would tell Sen. Clinton the same), “When your opponent is drowning, throw the son of a bitch an anvil.” All that being said, I just don’t see Sen. Clinton coming back at this point. And, if she somehow finds a way to wrest the nomination from Obama, it’ll have been by dragging the Democratic party so deeply through the mud of asinine smears and obvious half-truths that the nomination will be worthless. It is time for her to go.

It’s late, I’m still waiting for the Hawaii results, and I’m still pretty peeved about Clinton’s ridiculous plagiarism gambit. But, If you’ll forgive the lapse into LotR metaphors, the treason of Saruman, once the noblest and wisest of our order, is almost subdued. The Battle for Middle-Earth is only beginning.

Penn no better in Penn.

More signs of post-Feb. 5 incompetence from the Clinton camp. Just as they only recently “discovered” the rules in Texas, they somehow didn’t manage to file a full slate of delegates in Pennsylvania, despite having the backing of the state’s Democratic machine and despite Clinton supporter Gov. Ed Rendell giving the campaign an extension to do so. “It appears Clinton came up 10 or 11 candidates short across a number of congressional districts, including two in Philadelphia. That’s close to 10 percent of the 103 delegates to be decided by voters. It appears the shortage would’ve been double that if Rendell hadn’t extended last week’s candidate filing deadline by a day and a half, ostensibly due to bad weather.”

Second-Class Citizens.

“‘Superdelegates are not second-class delegates,’ says Joel Ferguson, who will be a superdelegate if Michigan is seated. ‘The real second-class delegates are the delegates that are picked in red-state caucuses that are never going to vote Democratic.‘” More bad news for non-Clinton-voting states: You’re not only insignificant to Mark Penn, a Clinton campaign co-chair thinks you’re second-class. Also, to the 2004 red-states of Ohio and definitely Texas, I’m afraid this pretty clearly includes you as well. Sorry, but, as always, please vote Democratic regardless.

Clinton: Obama is Bidenesque.

Sigh…Flailing about like a drowning victim, the Clinton campaign tries to accuse Sen. Obama of plagiarism for echoing remarks by friend and Obama supporter Gov. Deval Patrick of Massachusetts regarding the value of words. (Both quoted such examples as “We hold these truths to be self-evident,” “I have a dream,” and “The only thing we have to fear is fear itself” as times when words did, in fact, matter.) I’m sorry, but this is somewhat ludicrous, particularly coming from the grift-happy Clinton camp. (In fact, when asked point blank if Sen. Clinton has been known to lift from others, her campaign demurred.) For Gov. Patrick’s part, he said: “Senator Obama and I are long-time friends and allies. We often share ideas about politics, policy and language. The argument in question, on the value of words in the public square, is one about which he and I have spoken frequently before. Given the recent attacks from Senator Clinton, I applaud him responding in just the way he did.“

Ok, for one, much political rhetoric is by its nature an amalgamation of soundbites and talking points from other places. (See also Clinton and “Yes, we can,” or John McCain’s “ready to lead.”) For another, it’s not as if Sen. Obama (or his speechwriters) lifted entire paragraphs from some other source. He — and Patrick — both cited the most well-known examples in our history of words making a difference. It’s an obvious and devastating riposte to Clinton’s idiotic assertion that rhetoric is worthless. Could he have snuck Deval Patrick’s name in there? Well, I suppose so (as does Obama), but, really, this is pretty standard stuff in the political world. (And, before we consign ourselves to a political rhetoric characterized by interminable footnotes, let’s not forget: 95% of the time every word out of any candidate’s mouth — including Clinton’s — has been written by someone else.)

In any case, with this sad plagiarism riff, the Clinton campaign has shown once again that it will yield to nothing or noone in its race to the bottom. Please, go away, already. You’ve become an embarrassment to the Democratic party. Update: Former Carter speechwriter (and a friend and mentor of sorts) James Fallows calls shenanigans on the Clinton campaign.

Ready (to Screw Up) On Day One.

“Several top Clinton strategists and fundraisers became alarmed after learning of the state’s unusual provisions during a closed-door strategy meeting this month, according to one person who attended. What Clinton aides discovered is that in certain targeted districts, such as Democratic state Sen. Juan Hinojosa’s heavily Hispanic Senate district in the Rio Grande Valley, Clinton could win an overwhelming majority of votes but gain only a small edge in delegates.” The Clinton campaign “discovers” the long-standing Texas primary rules this month. I mean, why bother to learn the state rules before running for president (or before making Texas the last-ditch firewall)? As a TPM commenter deadpanned, Sen. Clinton must have just presumed she’d be greeted as a liberator.

What are they paying Mark Penn $4.3 million for again? Did their Texas strategy encompass anything beyond kids in mariachi outfits? This is rank incompetence, and no way to run a presidential campaign…or a country.

It don’t mean a thing, if you ain’t got those swings.

As posted here awhile ago, national polls have consistently shown Sen. Barack Obama performing better against John McCain than Sen. Hillary Clinton. Well, the polling firm Rasmussen has taken the question a step further, and begun asking swing states what they think of the three remaining candidates. Check these out.

Colorado: Obama beats McCain by 7 (46%-39%), McCain beats Clinton by 14 (49%-35%).

Minnesota: Obama beats McCain by 15 (53%-38%), McCain beats Clinton by 5 (47%-42%).

New Hampshire: Obama beats McCain by 13 (49%-36%), McCain beats Clinton by 2 (43%-41%).

Nevada: Obama beats McCain by 12 (50%-38%), McCain beats Clinton by 9 (49%-40%).

Oregon: Obama beats McCain by 9 (49%-40%), McCain beats Clinton by 3 (45%-42%).

Pennsylvania: Obama beats McCain by 10 (49%-39%), McCain beats Clinton by 2 (44%-42%).

The only swing state studied thus far that can give the Clinton campaign any comfort is Missouri, which shows a statistical tie: McCain beats Clinton by 1 (43%-42%), McCain beats Obama by 2 (42%-40%).

On the issue of electability, the choice seems clear. Update: SurveyUSA has more, and they follow the same pattern.

Iowa: Obama beats McCain by 10 (51%-41%), McCain beats Clinton by 11 (52%-41%).

Virginia: Obama beats McCain by 6 (51%-45%), McCain beats Clinton by 3 (48%-45%).

Wisconsin: Obama beats McCain by 10 (52%-42%), McCain beats Clinton by 7 (49%-42%).