Story highlights President Barack Obama lost the Democratic primary for Illinois' 1st congressional district in 2000

Upon getting to the 2000 convention and attempting to rent a car, his credit card was declined

The Axe Files, featuring David Axelrod, is a podcast distributed by CNN and produced at the University of Chicago Institute of Politics.

Washington (CNN) Four years before President Barack Obama grew to national prominence as the keynote speaker at the 2004 Democratic National Convention, he was broke after running a losing campaign, his credit card was declined and he was quickly losing hope on pursuing a career in politics.

In a recent sit down with former chief strategist David Axelrod on The Axe Files podcast, Obama reflected recently on his political career including his past eight years as president as he prepares to leave the White House. He touches on moments that stick out to him, and mentions one extremely low point that served as a key moment.

After losing the Democratic primary for the Illinois 1st congressional district in 2000, Obama says he was feeling down. He had spent all his money on the campaign, he had a wife and a child at home with another baby on the way, and was seriously contemplating a career outside of politics after the stinging loss.

A friend asked Obama to join him at the Democratic National Convention in Los Angeles, saying it might cheer him up to be surrounded by like minded and energetic politicos. Upon arriving in California and attempting to rent a car, his credit card was declined.

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