Gingrich campaign $4.3 million in debt
April 20th, 2012
09:31 PM ET
2 years ago

Gingrich campaign $4.3 million in debt

(CNN) - Newt Gingrich's struggling bid for the 2012 Republican presidential nomination is more than $4 million in debt, according to federal fund-raising figures for March the campaign submitted to the government Friday.

Of the $4.3 million in debt Gingrich reported on forms filed with the Federal Election Commission, nearly $272,000 was money the candidate loaned his own campaign. The loan was billed as "travel" on the filing report.

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The documents show the former House speaker's campaign raised $1.7 million in March, a month that saw Gingrich's chances of becoming the GOP nominee look increasingly slim.

Meanwhile, the super PAC supporting Gingrich, Winning Our Future, brought in just over $5 million in March, almost all of it from Miriam Adelson, the wife of Las Vegas casino magnate Sheldon Adelson. The Adelsons have given more than $20 million to Winning Our Future this election cycle. The group spent $1.5 million in March.

Gingrich won Georgia, the state he represented in Congress for 20 years, on March 6, but failed to win another state for the remainder of the month. In January, Gingrich took South Carolina's first-in-the-South primary.

The fund-raising figures showed the candidate spent $2 million in March, and ended the month with $1.2 million cash on hand. That represents a drop in Gingrich's war chest: he began March with $1.5 million in the bank.

In February, Gingrich reported raising $2.6 million. He said in his filing with the FEC that his campaign owed $1.6 million in debt at the end of February. The debt the campaign reported Friday includes carryover from earlier months.

At the end of March, Gingrich announced he was laying off staff and revising his campaign to focus on a low-cost communication strategy. His plan at the time was to convince delegates to August's Republican National Convention that he would be the best candidate to face President Barack Obama in the general election.

CNN's Kevin Bohn contributed to this report.

Also see:

Romney releases March fundraising figures

Paul campaign touts campaign cash

RNC looks to Facebook for political edge

Biden says Democrats have chance in Arizona


Filed under: Fundraising • Newt Gingrich
soundoff (21 Responses)
  1. i don't get it

    4.3 million in debr, and charging the american tax payer $35,000 a day so that he can keep his SS protection and along with car and driver. How was he going to get us all out of debt again?

    April 20, 2012 09:44 pm at 9:44 pm |
  2. Alex in Wisconsin

    Doesn't Newt know, he's supposed to cut spending to balance his budget. He shouldn't be looking for new revenue, that's what it means to be a conservative in the age of Obama.

    April 20, 2012 09:46 pm at 9:46 pm |
  3. Larry L

    Yet he's still a candidate... The dishonest horn-dog is simply milking it until he publishes his next book. Maybe Calrissa could get an actual job.

    April 20, 2012 09:56 pm at 9:56 pm |
  4. Severely Moderate

    Incurring a debt of $4.3 million in a bid to make Obama a one-term president is not news.

    Citizens United will give him a cheque.

    April 20, 2012 09:57 pm at 9:57 pm |
  5. BK

    People who can't successfully keep their campaign out of debt have no business running for President. We need someone that won't overspend (for once).

    April 20, 2012 10:13 pm at 10:13 pm |
  6. Emery

    And...he's still running...WHY? The nominee has already been picked...time to GO BACK TO GEORGIA where you belong!

    April 20, 2012 10:22 pm at 10:22 pm |
  7. Namejkane fl live from teapublican moon base no taxes, no regulation no health care, free gas.

    Couldn't happened to a nicer guy, maybe he can dip into some of the funds he stashed from the lobbyist while in congress, oh never mind, he probably spent that at Tiffanys on his girlfriends.

    April 20, 2012 10:23 pm at 10:23 pm |
  8. Politigal

    And he wants to be President??? He complains about not being able to handle the federal budget yet he can't manage his own campaign budget by millions of dollars??? Ummm, does this guy think the American people are brain-dead? He needs to pack up and go home. He's a terrible candidate who has no morals, can't manage his own money, and uses hateful rhetoric. What a joke!!!!

    April 20, 2012 10:24 pm at 10:24 pm |
  9. Ula

    Anyone who extends credit or services to Gingrich at this point is giving him a de facto campaign contribution. There is no way he can pay for ads or a tour bus or staff or any of the accoutrements of a presidential campaign. He isn't personally liable, only his broke campaign is. What service provider wouldn't know this going in?

    April 20, 2012 10:30 pm at 10:30 pm |
  10. Squigman

    Conservative? I don't think so. And there were people that wanted this (spend like the worlds coming to an end) nut job, to be in charge of the worlds largest economy. This fact alone is mind numbing. Wake-up people.

    April 20, 2012 10:46 pm at 10:46 pm |
  11. enuff

    So much for fiscal responsibility.

    April 20, 2012 10:48 pm at 10:48 pm |
  12. tonyinlargo

    ..........and he was going to get the USA out of debt????????????? It's not only him, though, it's all the other Republican candidates who wouldn't know what to do to help the economy while protecting and supporting as much as possible the American worker.

    April 20, 2012 11:26 pm at 11:26 pm |
  13. tonyinlargo

    .............and he was going to get the USA out of debt?????????? Just another Republican who says anything to try to get elected

    April 20, 2012 11:29 pm at 11:29 pm |
  14. This is becoming comical !

    Gingrich can't even run his own campaign ! How could he ever think that he could run our entire country ?

    April 21, 2012 12:02 am at 12:02 am |
  15. James

    WOW

    April 21, 2012 01:19 am at 1:19 am |
  16. Thomas

    And this Idiot , Egotistical , Blowhard , Morion wanted to run the country !

    Newt , I hope you have to pay back every dime .

    April 21, 2012 03:33 am at 3:33 am |
  17. Orwell seen it before

    Intellectually and morally bankrupt too.
    Par for the course.

    April 21, 2012 04:30 am at 4:30 am |
  18. Marie MD

    This man and paul are really delusional. The teapublikan taliban have spoken. The flip flopper, while not their first, second or 100th choice, is their man and now they are scrambling after not liking him for months and saying it aloud to pretend he is their savior.

    April 21, 2012 06:40 am at 6:40 am |
  19. Nobodies Pon

    And the tax payer picks up the tab what a great country.

    April 21, 2012 07:03 am at 7:03 am |
  20. Wire Palladin, S. F.

    Another conservative who knows nothing about a budget, spending within his means. Conservatism has come to mean only attacking women and waging war.

    April 21, 2012 07:16 am at 7:16 am |
  21. Jane

    If that's how much he's prepared to get himself in debt, what would he be prepared to do to the economy? What happened to the conservative principle of not spending money you don't have?

    April 21, 2012 08:21 am at 8:21 am |