Skip to comments.Predictable: Gingrich Admits He Owes More Than $4 Million Campaign Debt
Posted on 04/08/2012 3:50:43 PM PDT by Mozilla
If you havent been reading this blog regularly, you may have been shocked by Newts confession today on Fox News Sunday:
Unfortunately, our guys tried to match Romney, Gingrich said of the Florida match-up. It turned out, we didnt have anything like his capacity to raise money. Gingrich said he has a little less than $4.5 million in campaign debt, and hes operating on a shoestring budget.
I was there when it happened, although nobody realized it at the time, and it took another seven weeks to learn the truth.
On Feb. 21, the day after his January FEC report became available, I said Gingrichs spending was unsustainable, and when his February report became public March 20, I said he was bankrupt.
There are ways of billing expenses so that a campaign can push forward its obligation. The invoices delivered on March 1 wont be made public until the March FEC report goes online April 20. Yet was obvious from the February report that Newts campaign had spent the entire month trying to maintain an expensive illusion of financial viability, an illusion that did not dissolve until three weeks into March. Apparently, many people still dont comprehend what a rotten scam it was.
A veteran political observer to whom I spoke by today said, of course, it has become standard operating procedure for campaigns to conceal the reality of their finances by agreeing with consultants and vendors to delay invoicing.
On Feb. 29, Santorums campaign announced it had raised $9 million in February. A week later, Romneys campaign said it had raised $11.5 in February. Newts campaign kept silent about its February fundraising, and I knew they were hiding bad news.
(Excerpt) Read more at theothermccain.com ...
I just watched the interview. Unfortunately, I get the feeling Newt will be dropping out soon.
I was very touched when he became emotional, talking about his faith. He said that we don’t have to fear anything as long as we hide beneath the Cross, and he choked up and had to pause. God bless him.....I will be so sorry to see him go.
He will certainly make good advisor in many capacities. If we had Santorum, Newt could be a real help mate to a President.
Wow, spending what he can’t afford. What does he think he is, a demonrat?
BO spends $4 million a day on his vacations.
Newt was trying to win the GOP nomination from Romney. It was a good cause.
Yes it was a good cause. The way things sound though it seems at around the time of The Florida primary Newt did not have enough money to compete. So something is completely wrong that Romney had money but the others who ran did not. Romney is going to be the most despised candidate in history of the GOP.
No, his ego got in the way of getting a conservative nominee - although it might not be too late - by taking away votes and delegates from Santorum. If we get stuck with Romney, Gingrich will be to blame.
If we get stuck with Romney, Gingrich will be to blame.
Sorry, if we get stuck with Romney, we are ALL
We did what we could.....but did we really?
Newt wasn't even taken seriously until November and the baggage boobs flocked to the 'sainted' one.
We non-Romney's spent time and donations flipping through too many other failed options. The only one with sufficient infrastructure to compete with Romney was Perry. If he'd had half of Newt's debate prowess, he'd have been the nominee.
Mittens will have no place for him, but then again Mittens will not beat the won.
Exactly why Romney will be the one. It was obvious long ago that Newt could not win, take a little credit, because it is due you.
Newt’s a joke. Bellicose doesn’t equal intellect. All he did was win this thing for Romney.
If we get stuck with Romney, its the Romney supporters we should be blaming
No, if we get stuck with Romney, we will have all of the stupid, brain dead, "duh duh I'll vote fer whoever the news mediers tells me ta vote fer" idiots to blame.
Newts a joke. Bellicose doesnt equal intellect. All he did was win this thing for Romney.
It is what it is and it has always been that way. You can’t change what “is” is.
It’s time for all you Newtie supporters to dig deeper and donate YOUR HARD EARNED MONEY to help pay off his campaign debts. That way, Newt won’t have to take it out of his pocket.
It is never a good cause to spend more than you can manage to afford. Now the old fool will have to kiss Romney’s ass, hoping to get the RINO to write debt off. Gingrich is becoming Romney’s slave as we speak.
>> Newts a joke. Bellicose doesnt equal intellect. All he did was win this thing for Romney.
>> Santorum 2012
And you and Rick are interested in nailing Zimmerman for manslaughter, right?
Voting for Santorum doesn’t equal intellect.
I'm glad Newt has stayed in. At least he offers us a choice besides the two RINOs and America's crazy uncle that make up the rest of the GOP field.
I'm up for him making a third party run. I'd at least rather vote for a conservative who may lose than a RINO who will lose.