Fossella in debt

One of the advantages of running hard races in districts Democrats normally write off, is that some times is pays off with a victory, and some times it sets the stage for the next election by exposing the incumbent's flaws. The latter is what Harrison accomplished in 06. But if you don't believe me take a look at Fossella's last financial report of 2006 (via the FEC).

8. Cash on Hand at Close of Reporting Period $12,402.81
10. Debts and Obligations Owed BY the Committee $209,009.84

In 2002 Fossella started with $310,000 CoH.
In 2004 Fossella started with $176,000 CoH.
In 2006 Fossella started with $163,000 CoH.
In 2008 Fossella is only starting with $12,000, while his PAC Friends of Fossella incurred $209,000 of debt.

While we await Fossella's first quarter filing for January-March 2007, we know that he is starting his re-election with the least amount of cash on hand that I can find records of, and that he is carrying over an even greater debt. He very well could spend his first few fund raisers just closing out debt from 06, while the Democratic nominee may take the lead in fund raising. A first that I am aware of.