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Newt Gingrich’s Presidential Campaign Owes $1,000,000 (And It’s Not To Tiffany’s)

Another sign of trouble for Newt Gingrich’s Presidential ambitions:

ATLANTA, GA — Newt Gingrich’s presidential campaign is more than $1 million in debt, according to his campaign disclosure provided to The Associated Press on Friday.

The former House speaker’s campaign raised $2.1 million since he got into the race earlier this year. But he spent $1.8 million.

Gingrich said he has $322,222 cash on hand.

Gingrich, however, listed $1.03 million in debt, almost half of that for private air travel. The Republican owes $451,946 to Washington, D.C.-based Moby Dick Airways and more than $100,000 for legal fees.

Facing a cash shortfall, Gingrich has in recent months has scaled back his spending, flying commercial airlines rather than corporate jets. His campaign said he had received contributions from 20,217 donors, with 17,959 writing checks for $100 or less.

One of his campaign’s creditors is Gingrich himself. The campaign owes him $47,005 for its use of mailing lists owned by the former Georgia congressman.

Well, Newt is adept at running up debt. Perhaps that’s the one qualification a President needs these days.

 

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About Doug Mataconis
Doug holds a B.A. in Political Science from Rutgers University and J.D. from George Mason University School of Law. He joined the staff of OTB in May, 2010 and also writes at Below The Beltway. Follow Doug on Twitter | Facebook

Comments

  1. WR says:

    So Newt owns a big mailing list. He then rents it to his campaign for fifty thousand dollars in campaign donations, and presumably keeps the money. I wonder in what other ways the Newtster is converting donations into personal funds.

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