Newt Gingrich’s campaign is busted financially

Newt Gingrich: It ain't looking good

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.

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3 Responses to "Newt Gingrich’s campaign is busted financially"

  1. Sandy Price  March 21, 2012 at 9:32 am

    As much as I dislike Speaker Gingrich, I hope he can make a dignified exit from the biggest contest of his life. I also hope the Party itself can pat him on the back for a good try and then let it go!

    America hates a loser and often piles on when the situation rises. When anyone claims that God wants them to serve in any position, and then they lose, they often become the target for the media to play dirty games.

    I cannot watch Chris Matthews (MSNBC) any more as he reverts to his 1960 comedy club mind and eats away at any loser; he is no Jon Stewart/Mort Saul.

  2. Jon  March 22, 2012 at 7:53 am

    What that also says is that he raised 2.6 million dollars. In a month. For a candidacy that pretty much everyone has given up on.

    From whom? Where are these people? Who are these people? Where can I get two and a half million for being completely incapable?

    I suspect it’s a covering bets thing. Those who can, give to all the candidates, so whoever wins is nonetheless beholden to you. They’re just playing the odds.

    J.

  3. Keith  March 22, 2012 at 11:29 am

    Newt Gingrich’s campaign is busted financially.

    It’s been MORALLY bankrupt from the beginning.

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