Richardson To Help Settle Clinton's Debt With Fundraisers

Washington, D.C. (AHN) - New Mexico Gov. Bill Richardson will be holding two fundraisers to help Sen. Hillary Clinton (D-NY) pay off her campaign debts worth more than $22.5 million.

The fundraisers will be held in New Mexico on August 17. One will be hosted by political strategist and Richardson's former chief of staff Dave Contarino, and the other by businessman Paul Blanchard.

"Governor Richardson's efforts reinforce Senator Obama's commitment to unifying the Democratic Party and assisting Senator Clinton's effort to retire her campaign debt," Obama spokesman Bill Burton said in a statement on Wednesday, according to CNN.

Richardson, an Energy Secretary under former President Bill Clinton and chairman of the Democratic National Convention in 2004, bowed out of the Democratic presidential race on January 10, after finishing fourth place in the New Hampshire and Iowa primaries. He endured a firestorm of criticisms from Clinton supporters, particularly James Carville, for endorsing Obama in March.

He first pledged to help retire Clinton's debts last month. "We've been asked to help. So in principle we are going to help. I think the party needs to come together," he told ABC after a speech before the Democratic Leadership Council.

Clinton has campaign debts worth $10 million to vendors. Her campaign also owes her $12.2 million.

Sen. Barack Obama (D-IL) has been asking donors to "give what they could" to help settle the former first lady's debt. He and his wife Michelle each donated $2,300, the maximum allowable campaign donation under federal law, to Clinton during the Illinois senator's first joint fundraiser with Clinton in June.

Clinton spokesman Kathleen Strand is quoted by MSNBC on Wednesday as saying, "Sen. Clinton is grateful for Gov. Richardson's and Sen. Obama's efforts to assist with retiring her campaign debt and she is looking forward to continuing to campaign for Senator Obama and help ensure victory for Democrats throughout the country this fall."