Richardson Presidential Campaign Owes $285,000

SANTA FE (AP) – Governorl Richardson continues to chip away at the debt left from his abandoned campaign for the Democratic presidential nomination.

The campaign owed $285,419 at the end of May and had a cash balance of $1,746.

That’s according to the latest financial report filed with the Federal Election Commission.

The campaign’s debt dropped slightly from about $317,000 at the end of April.

Richardson dropped out of the race in early January. He says he hopes to retire his campaign debts by the end of the year.

In the latest reporting period, the campaign had total receipts of $52,812. That includes refunds from vendors and contributions of $33,519.

(Copyright 2008 by The Associated Press. All Rights Reserved.)