More on the loan...

I've been doing some investigating today to find out if a loan is necessary for the Kentucky Democratic Party's finances with the upcoming elections. Here's what one committee member, who wishes to remain anonymous, told me today when asked if such loan were necessary:

Probably. I am concerned about the way all of it will be spent and how much will be recouped by the Clinton visit. But, yes, it is necessary. And the party has borrowed money many times before, most recently under Bill Garmer (contrary to what Mark has written). We had a line of credit of $250,000.00 using the HQ building as collateral with the Farmers Bank in Frankfort. While we never borrowed the entire amount, neither did we ever had the opportunity to recoup it as we will with a Bill Clinton visit.

I can not say that I am entirely happy with the idea of borrowing money, but at the same time, debt is sometimes necessary. Now is one of those times.