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Wed May 2, 2012, 08:06 AM

Newt Gingrich $4 Million in Debt; Staffers and Creditors Fume

Source: ABC news-AUSTRILIA

Newt Gingrich ends his White House dream today with his political committee facing a mountain of debts -- owing about $4 million to scores of businesses and campaign workers around the country who fear they will never get paid.


Campaign watchdogs said the size of Gingrich's debt is extraordinary -- and could have been avoided if the candidate and his team had been more disciplined.
"He was reckless in running up these bills, especially in the last month or so of the campaign when it was quite clear that Mitt Romney would be the nominee," said Craig Holman, a government affairs lobbyist for the watchdog group Citizen Union.


The campaign has been dogged by financial problems since last summer, but its cash crunch accelerated in recent weeks. It finished March with $4.3 million in debts, an alarming increase from $1.5 million at the end of February, according to reports filed with the Federal Election Commission.

Relief can't come soon enough for the Gingrich campaign's anxious creditors. The campaign owes Moby Dick Airways $1.1 million for travel and charter flights.; the Patriot Group, a Virginia security company, $449,502 for helping to protect the candidate; and McKenna, Long and Aldridge, a law firm with offices in Atlanta, $183,658 for legal services, the reports show.

Read more: http://news.yahoo.com/newt-gingrich-4-million-debt-staffers-creditors-fume-002208567--abc-news-topstories.html



Time to hock some of his wife' bling.

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Reply Newt Gingrich $4 Million in Debt; Staffers and Creditors Fume (Original post)
Ichingcarpenter May 2012 OP
tanyev May 2012 #1
yellerpup May 2012 #3
kayakjohnny May 2012 #2
JNelson6563 May 2012 #5
WhoIsNumberNone May 2012 #6
DCKit May 2012 #4
WhoIsNumberNone May 2012 #7
Laura PourMeADrink May 2012 #8
CanonRay May 2012 #9
SDjack May 2012 #10
SOS May 2012 #11
David in Canada May 2012 #23
Democat May 2012 #12
David in Canada May 2012 #25
closeupready May 2012 #30
hue May 2012 #13
gratuitous May 2012 #14
hayrow1 May 2012 #15
Javaman May 2012 #16
qb May 2012 #17
Liberal_Stalwart71 May 2012 #18
ashling May 2012 #19
eringer May 2012 #20
Hubert Flottz May 2012 #21
Hubert Flottz May 2012 #22
UTUSN May 2012 #24
beac May 2012 #26
colorado_ufo May 2012 #27
beac May 2012 #34
sarcasmo May 2012 #28
truthisfreedom May 2012 #29
yellowcanine May 2012 #31
eppur_se_muova May 2012 #32
Initech May 2012 #33
AnotherMcIntosh May 2012 #35

Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:08 AM

1. I guess not enough people wanted to pay $50 to have their picture taken with him.

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Response to tanyev (Reply #1)

Wed May 2, 2012, 08:09 AM

3. The big secret: Newtie was paying them. eom

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:08 AM

2. They can find some relief here....

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Response to kayakjohnny (Reply #2)

Wed May 2, 2012, 08:12 AM

5. And then he can go here

www.SuckItYouCrybaby.com

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Response to kayakjohnny (Reply #2)

Wed May 2, 2012, 08:13 AM

6. I like it.

I had been using this one on YouTube:



But I think yours is better

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:12 AM

4. He's been living like a king off this slush fund, as was intended.

 

If those campaign workers have any sense, they'll be working for us by the end of the month.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:14 AM

7. Can we get the link?

Thanx

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:14 AM

8. Just heard on Faux News that Romney is going to "put him in touch" with his donors

to see if any of them will pay off his debt. Bet, he would have had more luck
with that if he had gotten out sooner.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:28 AM

9. Personal Repsonsibility. Remember Newt, it's all about Personal Responsibility!

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:37 AM

10. After Pres. Obama is re-elected, he should pay off Newt's debt. He owes

Newt for doing tearing up Mittens in the primaries. That save DEMs a lot of money.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:39 AM

11. 7-4=3

Gingrich can pay his creditors out of his $7 million net worth.
He'd still have $3 million to live on.

Don't be a deadbeat Newt!
It's all about personal responsibility.

http://www.celebritynetworth.com/richest-politicians/republicans/newt-gingrich-net-worth/

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Response to SOS (Reply #11)

Wed May 2, 2012, 10:09 AM

23. Actually...

Actually, Newtie Poo isn't liable for a red cent of his campaign debt.

Campaign committees operate essentially as corporations. The campaign is liable but the actual candidate isn't. Many people actually think that because a person runs for office and the committee is on their behest and behalf, that they have to pony up for the debt.

Now, knowing this, people are probably wondering: "If candidates aren't liable, why do they even bother to pay off their campaign debts?" There are several reasons. A) The erstwhile candidate is not a total douchebag and wants to make right by his campaign's vendors. B) The candidate expects to run again. C) Other people help pay off the debt. After all, if not paying campaign debts was de rigeur, no one would do business with campaign except on a strict COD basis.

Also, campaign committees can continue on long after the actual campaign has subsided. The 1984 presidential campaign committees for John Glenn and Ronald Reagan are actually still in existence with campaign managers and treasurers and the like. Glenn's campaign is still trying to retire debt whereas the Reagan/Bush '84 committee keeps reinvesting its surplus and basically operates as a PAC. Last I heard, Pat Buchanan's sister Bay is still the campaign treasurer.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:40 AM

12. How much is an endorsement worth to Romney?

Selling off your endorsement is probably one way to pay off the debt.

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Response to Democat (Reply #12)

Wed May 2, 2012, 10:18 AM

25. Endorsement...

If Romney pays off Newtie Poo's campaign debt, it might be as much to get the vendors that donated to Gingrich on his side. Many campaign vendors and operatives only cater to a single party so Romney might not want a bunch of disgruntled vendors in case they are needed in the future.

If Newtie Poo and/or Frothy Mess release their respective delegates, they still cannot force them to vote for Romney. They can keep their delegates pledged to themselves OR release them, making them uncommitted delegates. Many of their delegates were assigned to them as a result of primaries but the delegates themselves chosen at conventions or at cauci with the delegate assigned a first ballot vote. Many Ron Paul supporters actually won many of these spots so if they formally drop out (suspended candidacies are still technically still running) and release their delegates, Paul will suck most of these up.

Overall, the party will basically ensure the debts are paid so other candidates aren't forced into doing business cash-only due to a lack of confidence in candidates paying up.

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Response to Democat (Reply #12)

Wed May 2, 2012, 11:57 AM

30. I'd guess probably a lot more than we here think it is.

Romney is likely to lose, but will try to marshal every conceivable resource and endorsement he can to give it all he's got.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:49 AM

13. Lol! and Newt preached about balancing the budget!!

Maybe they should have a yard sale of some of Callista's jewels from Tiffany's.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 08:52 AM

14. You thought Newton was campaigning? Suckers!

He and the little woman came out with no less than five (count 'em!) books in the last year and whatever. This was a book tour, not a political campaign. What, you were listening to the popular media and got gulled into thinking this was a campaign for high office? Psych!

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 09:06 AM

15. This strikes me as utter B.S.

 

Anyone that deals with a political campaign demands cash in advance unless they are actually supporters of the candidate and use services or product to assist the candidate in a way to circumvent campaign finance laws. Corruption is spread from the top down in this case, and I am sure each and every one of these "creditors", as well as Gingrich, are involved with this blatant scam.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 09:11 AM

16. Quick Lizard! crank out several dozen crap books to promote! Stat! nt

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 09:29 AM

17. He should join the Minnesota Republicans.

They can all cry in their beer about their millions in debt.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 09:29 AM

18. Oh, the irony!! He got into the race thinking that he'd make money and now look...

Welp, now he's going to have to sell his soul to Mitt Romney and maybe...just maybe...R-Money will pay off his bills. Besides, $4 million is lunch money for Mittens!

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 09:36 AM

19. When you lie down with the Newt

you get up morally broke

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 09:53 AM

20. Let His Buddy Hannity Bail Him Out

Mr. Speaker Mr. Speaker I am sick of Hannity calling him him Mr. Speaker.
Somebody tell the Newt that all he has to do is write another hate-filled book about how the Democrats are destroying this country and schelp it on Hannity's three ring circus shows.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 10:03 AM

21. Let the Koch Roaches eat the pig.

Deadbeat Dud.

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Response to Hubert Flottz (Reply #21)

Wed May 2, 2012, 10:06 AM

22. If little kids can go off to work to pay their bills...

Why can't Newt?

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 10:17 AM

24. Don't his staff & creditors know what a Revolving Account is?!1 n/t

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 10:26 AM

26. "Moby Dick Airways"???

Is their motto "We'll fly you all over the place in the insane pursuit of your unobtainable goal?" ????

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Response to beac (Reply #26)

Wed May 2, 2012, 11:02 AM

27. Tried to resist this one, but . . .

Moby Dick Airways? Do they specialize in flying Great White Whales?

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Response to colorado_ufo (Reply #27)

Wed May 2, 2012, 10:19 PM

34. Moby was a Sperm Whale.

But, given Newtie's romantic history....

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 11:31 AM

28. He can't call up sugar Daddy Sandy?

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 11:54 AM

29. One word.

Tiffany's.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 12:20 PM

31. Hard to feel too sorry for them. Presumably they voluntarily went to work for him and loaned him

money. I mean, it is Newt Gingrich we are talking about her. Seems to me they knew what they were getting into.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 01:08 PM

32. When Repugs say they'd run the country like a business ...

this is the kind of business they have in mind. A storefront sham operation with big salaries and bonuses for management and nothing but debt for everyone else.

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Response to Ichingcarpenter (Original post)

Wed May 2, 2012, 10:12 PM

33. Perfectly ironic punishment: he has to work as a high school janitor.

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Response to Ichingcarpenter (Original post)

Fri May 4, 2012, 07:54 AM

35. Finally

 

?

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