Skip to comments.Newt Gingrich $4 Million in Debt; Staffers and Creditors Fume
Posted on 05/02/2012 9:18:25 AM PDT by Mountain Bike Vomit Carnage
Newt Gingrich ends his White House dream today with his political committee facing a mountain of debts -- owing about $4 million to scores of businesses and campaign workers around the country who fear they will never get paid.
Campaign watchdogs said the size of Gingrich's debt is extraordinary -- and could have been avoided if the candidate and his team had been more disciplined.
"He was reckless in running up these bills, especially in the last month or so of the campaign when it was quite clear that Mitt Romney would be the nominee," said Craig Holman, a government affairs lobbyist for the watchdog group Citizen Union.
(Excerpt) Read more at news.yahoo.com ...
“He was reckless in running up these bills, especially in the last month or so of the campaign when it was quite clear that Mitt Romney would be the nominee,”
This is the thing about Gingrich that began to worry me a while back. The man has no money-sense whatsoever. Gifted, but flawed.
So we now know what an endorsement goes for, if anyone was curious.
I’ve never understood why staffers become so upset about not getting paid. This happens in every campaign that fails and many times in campaigns that are successful.
Every campaign I’ve worked on, I’ve believed in the candidate and figured it was volunteer work where I may get a check.
“This is the thing about Gingrich that began to worry me a while back. The man has no money-sense whatsoever. Gifted, but flawed.”
That is like blaming George Clooney when a movie he is starring in goes over budget.
Worry about Gingrich’s money sense all you want ~ he’s rich ~ but this Hollman guy is the very face of modern Fascism. He doesn’t want you to be able to get together with others and campaign ~ see: http://www.citizen.org/Page.aspx?pid=2583
I don’t think the Clintons have paid off their campaign debts yet.
You are wrong that Newt has “No Money Sense”. His money senses are fine. He will stiff a lot of people, but overall, you can bet that Newt lined his pockets on this campaign (See Expenses) and set himself up for future speaking fes and books. He will probably get Romney to pay down some of the debt, but be assured, Newt will come out just fine personally even if at the expense of others. That’s why he got in the race, and that is who Newt is. Hope his current wife dooesn’t get sick if you get my drift.
Taxpayer’s money, our money, is like crack to these people. They are like out of control drug addicts.
“Ive never understood why staffers become so upset about not getting paid. This happens in every campaign that fails and many times in campaigns that are successful.
Every campaign Ive worked on, Ive believed in the candidate and figured it was volunteer work where I may get a check.”
This tells me that many of these campaign workers were in it for the wrong reason. Unless they have an employment contract, they should just go back to their day jobs.
You know damn well he’s good for it. This is just another bash Newt article.
I don't think Newt is a principled conservative. I think he is an opportunist who realized sounding like a conservative would help his campaign.
I admire many of the things Newt did in the 1990’s when he was Speaker of the House. But today he is just another Washington insider who has learned how to play the system.
Shhhhhh....I’m sure Obama paid them off.
Gingrich is not a pampered Hollywood star hired to play a role by the people actually in charge.
Gingrich hired the staff and set the agenda that required spending lots of money. Gingrich decided to stay in the race long after it was obvious he was not going to be the nominee.
Ever hear the expression “the buck stops here”?
Maybe a former legislator like Gingrich lacks the executive experience to put together a competent team - but that doesn’t mean he is not responsible for the executive decisions he made (or failed to make, or delegated) during his own campaign.
Effective money usage is something I look for in a conservative candidate.
In my opinion, Mitt Romney isn’t at all encouraging considering how much money he spent for ties and 1 or 2 percent wins. He easily spent 10 times as much money as Santorum in Michigan but still only pulled off a tie.
Any FReepers still think Newt has a chance at the convention?
It’s Santorum’s fault...
Yeah, Newt will be good for it once Romney's check clears.
Not feelin` the love for ol` Newt, are ya?
No one other than Jesus Christ would not have been able to withstand the constant flood of campaign sliming coming from Romney.
Every campaign Ive worked on, Ive believed in the candidate and figured it was volunteer work where I may get a check.
Individually that is a good approach. However there are many small business people that get shafted by these campaigns as well. A food provider for a function, transportation, rental on buildings, printing, etc. etc. etc.
You can thank John McCain for this. Newt’s SuperPac has more money than Newt’s campgain owes, but he can’t use the money nor can they give it to him. Nobody can give Newt more than $2500. This is nonsense. It is time to end campaign contribution limits.
We need to do a money-bomb for Newtie.
Calista needs a new necklace to help her through her ‘you won’t be First Lady’ depression.
We know no such thing. There has never been a solid accounting on where all of that money went. Is or is not Newts campaign in a massive debt hole? How is this a hit piece when it is talking about straight up facts.
But many of the campaign's creditors are small businesses that say they will suffer major hardship if they are not paid.
Stiffing small business was the type of stuff we got angry about here when Hitlary did it in '08. Why are you giving this guy a pass on not paying his bills?
It’s very depressing to see people on a conservative site come out and blast the only conservative that was left in the race. Even conservatives fall for the media meme these days apparently.
He has some character flaws that flunk what I learned as an Army Officer.
“The man has no money-sense whatsoever.”
Pretty dumb statement considering he’s the only Speaker in the last 80 years to balance the federal budget.
you win the honesty psot of the week award. good for you
Is it safe to say such things on FR now?
That’s complete garbage. He already paid down half a million last month and will continue to do so. He didn’t need the campaign to sell books, do speeches or make money, unlike, say, Ron Paul who makes campaigning his career. Newt already had a successful career.
Newt got in the race not for himself, and not necessarily thinking he would win at first (although by December he definitely did think he could win) but to give a voice to bold, creative, conservative ideas. Every one of his ideas on Social Security, the space program, the courts, energy exploration, income tax reform, etc. blow anyone else’s in this primary out of the water and would help the country a great deal if they were implemented. His career has been dedicated to selflessly helping the country and the Republican party. The party owes him a lot and definitely should help pay his debts, especially after the Romney/RNC coalition tried to destroy Newt’s reputation in Florida with lies. They’re mostly responsible for putting Newt’s campaign in this financial position for their own self-interest.
Oh please! The creditors knew who and what they providing credit to, it was a political organization not Newt.
Any one of them could stop providing credit at any time so please spare the tears and shock.
So was Hillary’s debt all eventually paid off only from $2,500 donations?
This article says from 2/2009 to 2/2010 she paid off $4.5 million in debt, the vast bulk of her remaining debt at that time.
Newt had raised millions for his think tanks like American Solutions so I have a feeling he’ll be able to pay this down in the same timeframe Hillary did.
Is it safe to say such things on FR now?
To my knowledge no one ever got zotted for criticizing Newt. The only zottable offense I saw in this primary was supporting Romney. Plenty of Santorum supporters here spent months bashing Newt and vice versa.
How much does John Glenn still owe for his presidential run?
is that successful career the one where his company filed for bankruptcy? Newt knifed a good number of republicans in the back when he was speaker - that is why he had so little support during the campaign. Just remember he was for that crazy NY republican before he was against her.
Somehow you missed it.
Corzine has never been charged, the money is still unaccounted for, and Corzine is currently raising funds for Obama's re-election.
CRIME DOES PAY!
He left that successful company to run for president and its financial problems only happened after he departed.
Give us the specifics on who Newt “knifed” in the back. We hear these vague accusations sometimes but we don’t ever seem to find out who was specifically “knifed” and how. What is more clear on the record is how Newt was made a punching bag by the media just as they did with Bork, Quayle, Palin, etc. and how many in the party thought it was easier to offer him up as a sacrificial lamb rather than defend him.
I couldn’t care less about what Newt thought about one little House race one year. That doesn’t amount to a speck of dust on Mt. Everest compared to everything he’s done for conservatism in his career. It’s ridiculous to keep bringing something so inconsequential up. Politicians endorse other candidates all the time for a whole host of reasons and it’s not always because they agree with everything that politician says or does.
The thing that discouraged me about Newt is in June, 2011 he took off for a cruise with his wife. He didn’t spend that time getting on ballots in several states. He didn’t spend that time getting more organized or having fundraisers. He took a vacation right during the most important time of setting up a campaign. For President of the United States, no less.
If it wasn’t the vacation, I bet it would have been something else that discouraged you about Newt.
Unlike our nominee, not gifted but flawed?
How about talking to 25 students about brain science right before the Delaware primary? I give Newt credit, he can talk a good game. I admire the work he did in the House of Representatives, giving the Republicans the majority after 40 years of Democrat rule. Great job. That gave us conservatives hope. However, after 1998 he made some rash decisions, including the decision to support global warming by sitting on a couch with Nancy Pelosi. I think Newt is great at suggesting new and exciting ideas, not so great at the implementation of them. IMHO
Yeah— he can balance the federal budget, but his personal budget and his campaign’s haven’t fared so well.
Your “dumb” comment, is uncalled for. I didn’t insult you or Newt. Newt was the candidate I supported. So many juvenile name-callers at FR these days.
If you can’t run a campaign, how are you going to run a country?
Holman worked closely with the Democratic congressional caucus of the 110th Congress