Newt Gingrich‘s struggling GOP Presidential campaign is more than $1.5 million in debt and vendors say the former Speaker of the House is slow in paying his bills.
The Gingrich campaign will file its Federal Election Commission campaign report today and is expected to show deep debts, stagnant fundraising and a gloomy outlook for the future.
“Contributors smell a dead campaign,” a highly-placed GOP political source tells Capitol Hill Blue. “It appears that the only person on the planet who doesn’t know Newt is finished is Newt himself.”
Gingrich, who continues to vow that he will fight for the nomination all the way to the convention in Tampa later this summer, finished February dead last in fundraising, raising just $2.62 million while GOP frontrunner Mitt Romney pulled in $11.5 million, Rick Santorum scored $9 million and Ron Paul banked $3.3 million.
Gingrich sugar daddy Sheldon Adelson and his family kept “Winning Our Future,” the pro-Newt super PAC afloat in February, pumping in $5.5 million of the $5.7 million collected. Without Adelson, Winning Our Future would be out of business.
A close look at Gingrich’s spending shows that more than 450 grand was spent by the candidate for private jets to ferry he and his wife around the country.
But even with Adelson’s help with the super PAC, Gingrich’s campaign may be finished. The campaign reportedly had trouble paying the rent on its headquarters this month.