Gingrich is millions in the hole
May 20th, 2012
01:15 PM ET
11 years ago

Gingrich is millions in the hole

(CNN) – Newt Gingrich ended his campaign earlier this month with nearly $4.8 million in campaign debt, according to a report filed with the Federal Election Commission that reflected campaign activity through the end of April.

Debts of $1 million to a charter airline company, $466,370 for security services, $181,977 for public relations consulting and $165,000 for web advertising were among the largest single figures owed. The filing also listed a debt of $580,134 to Gingrich himself for travel expenses.

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Reports for spending after April are likely to make the debt total even higher.

The latest report indicated the former House speaker raised $786,782 in April and ended the month with $806,950 cash on hand.

Gingrich raised over $23 million during his debt-plagued White House bid, which officially ended on May 2. Over the course of the tumultuous year-long campaign, the former Georgia congressman at various times sat at the top and at the bottom of the GOP pool.

- CNN's Gabriella Schwarz and Kevin Bohn contributed this report.

Also see:

Rubio unleashes harsh attack on Obama in South Carolina

Gingrich stumps for Romney, calls for unity

NAACP backs same-sex marriage

Bush to return to White House for ceremony

Filed under: 2012 • Fundraising • Newt Gingrich
soundoff (49 Responses)
  1. nytw

    Just another example that claiming to be Republican doesn't make someone a real conservative.

    May 20, 2012 01:41 pm at 1:41 pm |
  2. mike

    bet he never pays any of it........what a class act

    May 20, 2012 01:47 pm at 1:47 pm |
  3. Joe

    Not much different from Hillary. These people want to run for the highest office buy don't know how to spend within their means. Hillary had to panhandle after her run for office. I guess Newt will have to do the same thing!

    May 20, 2012 01:47 pm at 1:47 pm |
  4. farleyjc

    Someone please tell me how in the world do you spend 5 million dollars that you don't have??? Is the private airlines and so on just keeping a running tab? I guess you have to be a politician. It never made sense to me why someone would be willing to spend 10's of millions to get a job that pays 250K.

    In Obama's case, he will end up spending more than the previous 3 Presidents COMBINED!

    May 20, 2012 01:51 pm at 1:51 pm |
  5. Richard T.

    Now that is an expensive book tour and ego trip. He is lucky he got others to pay for it.

    May 20, 2012 01:59 pm at 1:59 pm |
  6. Fernando

    Wasn't this guy preaching for fiscal responsibility? Typical Republican hypocrite.

    May 20, 2012 02:00 pm at 2:00 pm |
  7. jam

    What about the BILLIONS Obama owes the American taxpayer after his spending spree over the last 4 years that have produced ZERO results but left us in horrible debt?????? He needs to be dealt with after he leaves office in Jan.13.

    May 20, 2012 02:00 pm at 2:00 pm |
  8. BobInIrvine

    Can't wait for him to ask the gubmint for a bailout. 🙂

    May 20, 2012 02:05 pm at 2:05 pm |
  9. TM

    I'm sure the Koch brothers will be happy to buy a couple of truckloads of his next book. And if that doesn't work there's always that Tiffanys' line of credit. If all else fails, there shave to be a few people that are still willing to shell out $100 to have their picture taken with him.

    May 20, 2012 02:07 pm at 2:07 pm |
  10. Larry L

    IT'S THE FAULT OF THE SOCIALIST, LIBERAL MEDIA! Or... Newt"s a dishonest windbag who couldn't run a Kool-Aid stand efficiently.

    May 20, 2012 02:08 pm at 2:08 pm |
  11. jo an

    Take those 'jewels' back to Tiffany...for a start...go on the circuit and sell books, photos and B S!! B S brings BIG MONEY with the Republicans...:) Just sayin'!!

    May 20, 2012 02:09 pm at 2:09 pm |
  12. K3Citizen

    He can't manage a little budget so why on God's name does he think he's qualified to lead our country? He and the other GOP candidates are failures when it comes to leadership and trustworthiness.

    May 20, 2012 02:11 pm at 2:11 pm |
  13. Bayousara

    And to think Newt considered himself competent to be our nation's accountant-in-chief and run the nation's financial processes.

    May 20, 2012 02:12 pm at 2:12 pm |
  14. ssprince1

    This guy may have been president, yet he couldn't calculate when to get out....phew, glad he's not president....we are not 4 million dollars in the hole over a small project like a campaign, can you imagine if he was in charge of a national project? When would he have said, oh oh, spending too much here, and no way to get the money back?

    May 20, 2012 02:14 pm at 2:14 pm |
  15. nolimits3333

    Gingrich is America's first "welfare candidate."

    May 20, 2012 02:16 pm at 2:16 pm |
  16. They ought to change from the elephant to the hippo...

    Thought that Republicans didn't like debt. What's the matter Newt? Can't live within your means? No wonder you're kissing up to Mittens. The same guy that's spent millions hating you in the primary... Now he's your "daddy"...

    May 20, 2012 02:17 pm at 2:17 pm |
  17. MaryM

    Surprise, Surprise............ typical Repug

    May 20, 2012 02:23 pm at 2:23 pm |
  18. TexasAnnie

    Wonder if he'll just leave those vendors hanging? Hillary had the class to continue working to pay off her debt 4 years ago– would be nice if Newt would do the same. It's not right to just stiff those people he owes money to. That could put some of them out of business.
    Tells me I would always demand a big deposit up front from ANY candidate if I were doing business with them.

    May 20, 2012 02:24 pm at 2:24 pm |
  19. Mike M

    And this is the guy so many people trusted to turn the US debt around? Glad he's out of the race.

    May 20, 2012 02:27 pm at 2:27 pm |
  20. bcrunner

    No wonder he is now endorsing Romney after calling him a LIAR!! He needs his debts paid off and the sugar daddys, like the Koch brothers, have probably told him they'll pay off his debt if he endorses Romney..

    May 20, 2012 02:27 pm at 2:27 pm |
  21. svann

    Who would loan money to a political campaign? Trust a politician to pay you back? Thats not smart.

    May 20, 2012 02:30 pm at 2:30 pm |
  22. Ron in Ca.

    If he wasn't such an egotist, he would have gotten out earlier before he wasted. So much money.

    May 20, 2012 02:32 pm at 2:32 pm |
  23. gregory21

    So he walks away owing millions. Just what he would have to the country.

    May 20, 2012 02:37 pm at 2:37 pm |
  24. Anonymous

    His Tiffany's credit line is in danger.

    May 20, 2012 02:37 pm at 2:37 pm |
  25. Mary

    Lesson learned. He should have quit while he was ahead.

    May 20, 2012 02:41 pm at 2:41 pm |
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