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

[RamboLiberal]

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-fighting-massive-debt-racked-up-in-campaigns-extravagant-early-days/2011/12/01/gIQAtokzZO_story.html?hpid=z1

[Incitatus]

1. including $42,000 owed to Gingrich himself for the campaign’s use of a mailing list

WTF?

[MarkCharles]

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.

[liberal N proud]

4. Some one will come forward and purchase him

It's capitalism.

[SkyDaddy7]

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!

[Old and In the Way]

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.

[Hotler]

14. +1 n/t

[Missy Vixen]

6. So, who's going to actually use the F word?

FRAUD

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

:woohoo:

[msanthrope]

7. Doesn't he have any jewlery to sell? nt

[bloomington-lib]

8. And he's supposed to lead us to financial responsibility?

[left on green only]

9. It's all just a part of the Newt Getricher plan.

[brooklynite]

10. So, what this says is...

...He'll be ready on day One to provide Republican fiscal leadership...

[SoapBox]

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!!!

[red dog 1]

12. his "massive debt' matches his massive ego.

[newspeak]

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.

[On the Road]

15. Sounds Like the Perfect Guy to Balance the Budget

,

[4_TN_TITANS]

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.