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.