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Gingrich fighting massive debt racked up in campaign’s extravagant early days

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RamboLiberal Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 03:29 PM
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Gingrich fighting massive debt racked up in campaign’s extravagant early days
Source: Washington Post

Even as he surges ahead in the polls, Republican presidential candidate Newt Gingrich is struggling to get out from under a mountain of debt from luxury jets and other pricey expenses racked up in the early weeks of his campaign.

Creditors say Gingrich has begun paying back nearly $1.2 million in bills he owed at the end of September, and his spokesman says most will be taken care of by the end of the year. Other debts — including $42,000 owed to Gingrich himself for the campaign’s use of a mailing list — had already been paid ahead of other vendors, according to aides and disclosure records.

The debt puts Gingrich further behind in his ability to match opponents’ spending in early voting states, where he has just begun to pay for advertising and is scrambling to catch up on staffing. He has been forced to scrimp on even basic expenses for much of the campaign, and has only recently been able to expand his office presence in Iowa and South Carolina.

Although campaigns often operate in the red, Gingrich’s debts are unusually high — he spent nearly $3 for every $2 he raised. Mitt Romney, by contrast, reported no debt last quarter.



Read more: http://www.washingtonpost.com/politics/gingrich-fightin...
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Incitatus Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 03:33 PM
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1. including $42,000 owed to Gingrich himself for the campaign’s use of a mailing list
WTF?
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MarkCharles Donating Member (932 posts) Send PM | Profile | Ignore Tue Dec-06-11 03:36 PM
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2. Wouldn't it be just poetic justice if the front runner for the party of the rich
couldn't get enough money to run a campaign?

I'd love to see him come out of this a few hundred million in debt, and having lost the W H House and Senate for the Rethugs.
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 03:41 PM
Response to Reply #2
4. Some one will come forward and purchase him
It's capitalism.
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SkyDaddy7 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 03:40 PM
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3. The republicans run for POTUS just to...
sell books & take a vacation across the country! The only difference this time is Gingrich did not expect to be doing so well. The same for Cain, Bachman, etc., Perry actually thought he would just walk into the Presidency because he fooled Texas so many times! LOL!
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Old and In the Way Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 03:48 PM
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5. Another deadbeat Republican.
Can't manage the finances of his own campaign, but thinks he can lecture the rest of us on how to run the US economy. Figures he'd put himself 1st in line on something that didn't cost him anything to use. If I were a creditor, I'd be taking this con aertist to court.
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 08:56 AM
Response to Reply #5
14. +1 n/t
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Missy Vixen Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 03:58 PM
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6. So, who's going to actually use the F word?
FRAUD

C'mon, media, be the first on your block!

:woohoo:
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msanthrope Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 04:14 PM
Response to Original message
7. Doesn't he have any jewlery to sell? nt
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bloomington-lib Donating Member (513 posts) Send PM | Profile | Ignore Tue Dec-06-11 04:52 PM
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8. And he's supposed to lead us to financial responsibility?
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left on green only Donating Member (270 posts) Send PM | Profile | Ignore Tue Dec-06-11 05:00 PM
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9. It's all just a part of the Newt Getricher plan.
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brooklynite Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 09:28 PM
Response to Original message
10. So, what this says is...
...He'll be ready on day One to provide Republican fiscal leadership...
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SoapBox Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 10:53 PM
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11. He's SO Holy and Pious...maybe he should start a mega church!
The lemmings are just dying to kiss anyone's ring and pile them with money.

Once Newty the Cheater gets a whole bunch of millions...he can skate from the church with the money and probably a new wife too!

Just a thought, Newtster!!!
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red dog 1 Donating Member (307 posts) Send PM | Profile | Ignore Tue Dec-06-11 11:00 PM
Response to Original message
12. his "massive debt' matches his massive ego.
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newspeak Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 08:16 AM
Response to Reply #12
13. oh great!!! another little boots to take us further down the rabbit hole
the man can't even handle his own money responsibly and he wants to handle the country? I want to know what's in those ethics committee papers on him. We've already got enough corruption in our government we're trying to fight, we don't need to add the newtster.
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On the Road Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 10:14 AM
Response to Original message
15. Sounds Like the Perfect Guy to Balance the Budget
,
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4_TN_TITANS Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 02:32 PM
Response to Original message
16. This speaks volumes to the economic policy
mindsets between Gingrich and Romney. Romney might actually reduce the national debt, although I'm sure we wouldn't agree with how he did it.
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