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Newt’s failed campaign racked up $4.78 million in debts

By Capitol Hill Blue
May 22, 2012

Newt Gingrich

Newt Gingrich (Photo credit: Wikipedia)

Newt Gingrich‘s failed campaign for President was mired in $4.78 million in debt when the former Speaker of the House threw in the towel, reports filed with the Federal Election Commission show.

Gingrich owes more than a million to a private jet company — bills he and his trophy wife ran up while jetting around the country in style on corporate-style jets owned by a leasing company called “Moby Dick Airways.

Interesting concept. A failing campaign runs up $1.03 million in debt using a plane named after the great white whale that brought down a obsessed sea captain.

Besides the big chunk owed for private planes, Gingrich also loaned the campaign a half-million from his personal resources.

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