Tag: anti debt

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.

Rove’s Big Money Group Unleashes Next Wave of Negative TV Ads

WASHINGTON – Today, Crossroads Grassroots Policy Strategies (Crossroads GPS) launched the second phase of its $20 million advocacy campaign on runaway government spending and debt. New TV spots with a total of $7 million in advertising buys begin running today and into next week on national cable and network stations in eleven states and ten key House districts.

The new national ad, “Wake Up”, will run in rotation as both a :60 and :30 spot on national cable TV, as well as on broadcast TV stations in Colorado, Iowa, North Carolina, New Mexico, Nevada and Virginia. The ad will also be backed up with extensive internet advertising.

Additional state-specific ads will focus on Senators Bill Nelson of Florida, Claire McCaskill of Missouri, Jon Tester of Montana, Ben Nelson of Nebraska and Sherrod Brown of Ohio. The ads encourage constituents to contact the Senators and say no to more taxes, spending and debt. Next week, Crossroads GPS will begin running similar ads in approximately ten key House districts.

The total amount dedicated to Phase 2, including national cable, local network affiliates, targeted internet ads and production, totals more than $7 million over two weeks.

The national ad is below:

Watch for the Democratic Super PAC Priorities USA, run by former White House aides and a slightly different group in that it has to disclose its donors, to run some kind of response ad either nationally and/or in the key states targeted.