Question about Romney Debt

[georgem]

Can someone explain to me how it works when a candidate takes on debt. Romney had, from what I can find, 9M cash on hand at the end of the third quarter but also had 18M in debt. If he spends all that cash campaigning how does he pay back the debt? Does he even have to?

Same thing with McCain, his fundraising is abysmal, so he took on 3M in debt, if he runs out of cash and still has the debt on his books what happens?

[CurtisLow]

Mitt loaned himself, his campaign the money. So it's probably some BIG tax right off for him.

[micahnelson]

Just cause he writes it off, doesn't mean he didn't spend it.

[mtmedlin]

Yes, he spent it but unlike a regular loan, cince it came from the candidate, he does not have to repay it. As far as McCain, he will take federally matched money which will be millions and pay off his debt. His early fundraising success will help his bad fundraising now.