(CNN) - Likely 2012 presidential candidate Newt Gingrich reacted to President Obama's reelection announcement Monday, accusing him of trying to "extort contributions" from supporters.
"Here's a president who 18 months before the election is going to use his office to extort contributions on a scale we've never seen before," Gingrich said in New Hampshire where he addressed the Institute of Politics at St. Anselm College in Manchester. "He's in effect trying to create a Chicago style machine for the whole country with a billion dollars."
President Obama launched his official reelection bid with a video Monday using the slogan "It begins with us" and sources told CNN Obama's campaign team hopes their bundlers will raise $500 million, leaving the campaign to raise another $500 million to amass a $1 billion war chest.
"It's not about us, it's about the money and it's about the president's ability to coerce and run over the American people by building a machine so big nobody can challenge him," Gingrich said.
But the former Republican House Speaker said Obama can still be beat.
"I don't believe he can raise enough money to hide from the American people," Gingrich said. "I believe in the end there will be a debate, in the end it will be clear in October of next year how big the difference is and I think frankly he'll be a one-term president."
– CNN National Political Correspondent Jessica Yellin contributed to this report
Does anyone actually listen to this clown?
Did Gingrich get this ridiculous political talking point from Limbaugh or FOX news?
Ahhhhh ... so THIS is what the GOP was waiting for before they "officially" decide to enter the race. They wanted President Obama to commit to running before they started making up ridiculous rhetoric. Wait ... have they stopped since he entered office? My bad ... same crap different day ... no news here just more ignorant self serving disrespectful comments from another GOP President wannabe who can't compete on anything other than slander. Let the "silly season" begin ...
Obama / Biden 2012!!!
Not surprising. Chitown politics is always about extortion and corruption. That's common knowledge.
They've called the POTUS a communist, a socialist, a muslim, anti American, not an American, a terrorist, now they are calling him an extortionist. When will these monumental lies told by the GOP stop? Newt the multiple philanderer should just shut up.
I don't hear Newt calling for any big campaign finance reforms that would take some of the big money out of politics. For example, let's do away with PACs, a form of extortion where corporations feel obligated to contribute money to politicians from both parties in order to gain access. These corporations in turn pressure their employees to contribute to their PACs and those who don't are career limited. No, Newt won't call for reforming this corrupt, political machine because it serves him and his friends!
I find it ironic that, in the 'information age', there are so many who would attempt to exploit our ignorance – or naivite – by such posturing & blustering. The dumber the electorate, the better Newt's chances. Forewarned is forearmed. Teach your children well.
The Koch brothers bought Wisconsin lawmakers so why is Newt so upset? If Newt wants to have Obama defeated, maybe him and the rest of the republicans could develop a plan that is better than his. It is not Obama's fault that people see his way is better than all of the republicans' ideas put together.
Does this fool know what the word extort means?
and what do you call Newty's little PAC ponzi schemes?
gingrich would say anything; he's an ego-maniac or haven't you noticed? He's also a serial-lier who couldn't keep his pants up while he was attacking Clinton for the same thing.
But of course, gop voters won't care – a serial liar fits right in with that crowd
What Newt says is true; that's why we see all these negative responses from people who can not handle the truth.
Remember when he was speaker, Gingrich came up with a list of pejorative terms Republicans should use when referring to Democrats? He hasn't changed a bit. What a disgusting little man!
I think it is a crime that 1 Billion Dollars will be spent by obama to try to get re-elected. Wake up America! Our country is in bad shape with obama in charge. Vote for the Republican nominee in November 2012.
We can now add extort, along with atheist, to the list of word that Newt doesn't know the meaning of.
Newt speaks; therefore, Newt lies.