Anti-Debt Crusader Gingrich Owes Over $1 Million In Campaign Debt

Newt Gingrich’s campaign is in trouble again. FEC disclosure forms released today and obtained by the AP reveal that it has a debt exceeding $1 million, and only $322,000 in cash on hand. Newt’s main expense? Private jets.  The candidate’s campaign, whose entire professional campaign staff quit in disgust last month, spent over $450,000 on chartered jet flights.

The former Speaker of the House now flies commercial and relies on unpaid interns to manage his campaign. But that sacrifice is unlikely to save his heavily indebted campaign. He only raised $2.1 million since he announced his candidacy, $1.8 million of which he’s already spent—in addition to the $1.03 million he has in debt.

This is not the first time Newt’s had money problems. Earlier this year, it was reported that he and his wife owed hundreds of thousands of dollars to luxury jewelry retailer Tiffany’s, where he had lines of credit worth $2 million. Gingrich has blasted President Obama for his plan to use both cut spending and close tax loopholes to reduce the national debt, instead of just slashing social welfare programs.

But maybe Gingrich should have paid more attention to Obama’s proposal. One of the tax loopholes the president is most determined to end encourages reckless spending…on corporate jets.

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Joe Biden
President Joe Biden

Last week,The Economist's presidential polling average set in motion a reevaluation of the general election when President Joe Biden pulled ahead of Donald Trump for the first time since September 2023.

Keep reading...Show less
Alex Jones

Alex Jones

At a press conference on Tuesday, March 26, Maryland Gov. Wes Moore told reporters that there was no sign of terrorism or foul play in the collapse of Baltimore's Francis Scott Key Bridge — which had been struck by a freighter. According to Moore and the Biden White House, there was no indication that it was anything other than a tragic accident.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}