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Newt Gingrich $4 Million in Debt; Staffers and Creditors Fume

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.

http://news.yahoo.com/newt-gingrich-4-million-debt-staffers-...

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How Ironic...

Is it that Newt spends well beyond his means thinking that the more he spends, the better his chances of success? And how delightful it is to see Ron Paul, Champion of Fiscal Conservatism and the David to the Goliath FED is practicing what he preaches in that WE CAN'T SPEND OUR WAY OUT OF OUR PROBLEMS! Bravo Paul Friends! Bravo! Let's keep the Freedom Train running full speed ahead!

Boo-Hoo...It serves them right for globbing on to a loser.

Personally I couldn't care less if any creditors of Gingrich get paid. But it appears the used car saleman Romney will be purchasing his loyalty.

Gingrich will submit and suddenly heartily endorse Romney - even though on principle he doesn't agree with Romney.

Gingrich is the problem with the republican party. He could learn a LOT from Ron Paul who he dissed for months of debates and campaigning.

It's very tough to be principled when your premise is not grounded in TRUTH.

But it's easy for Dr. Paul to be principled because he does base his ideals on the truth and ONLY the truth.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

not surprised at all...

not surprised at all...

Somethings tells me THEY would'nt pay RPs debt IF IT EVER EXISTS

Just wondering

JJ Jones, Singer / Performance Artist. "You're the Wrong One, Mr. Gingrich" and "Ron Paul - The Downtown Song" available on iTunes http://itunes.apple.com/us/album/ron-paul-the-song-parody-do...

Houston, We Have A Problem

Need Another Sheldon Adelson

Well What Happened to Sheldon Adelson?

Did the Venetian millionaire accomplish his mission? I bet that Gingrich wishes that he dropped out a long time ago. Oh well, their goes his credit rating?

Newt In Debt?!

No chance! This is the same guy who, according to himself, balanced the budget 4 years in a row. Maybe he can borrow more money from social security to pay for these debts. Sound familiar?

Am I the only one seeing an opportunity here?

Am I the only one seeing an opportunity here? (if it's legal)

Offer Newt $4M in "debt relief" in exchange for an endorsement and his delegates, and some job as head of the Moon Base Solutions™ department.

I'm sure RP supporters wouldn't mind raising $4M in exchange for all those delegates!

Get Newt to "Unsuspend" His Campaign by Staying In

Sounds crazy, I know. But hear me out. Ron Paul's biggest chance to win the nomination is if the voting at the RNC goes to a second ballot. If there are only two to choose from, Romney will likely get the 51% on the first ballot to win the nomination. But if Newt is there, too, it might just be enough to prevent it. The biggest challenge would be getting Newt the five states he needs to appear on the RNC ballot in August.

absolutely not

For one it wouldn't even work, delegates wouldn't shift to RP because their king has accepted a bribe.

Second, that's what Romney would (will?) try to do to get his endorsement, to Romney $4M is nothing and he might even give him more cash.

Third, politicians should (and on occassion do) go to jail for getting paid to endorse someone.

And in addition, voters should (but sadly will not) be intolerable of such practice.

I see your point, but...

I see your point, but as for jail for being payed to endorse someone... Not with you on that. You can say the voters should look down on it, but making it illegal makes no sense.

Delegates are not bought - 4 M too expensive

It's about fiscally conservative. 4 M can go a long way. If Newts delegates can be won by arm twist, honest exchange of opionions, common ground canvassing, there is no need to raise hard raised dollar to buy his delegates. Again 4 M can do so much and has better use in waking up American at large.

Fair enough.

Fair enough.

Is it Mean to Laugh

I want to laugh at all of them including Romney, because with out his big Wall Street donors he would be right where the rest of them are.

Big Fucking FAIL

"If you think we can't change the world, it just means you're not one of those that will"

Jacque Fresco

another bailout

if Romney supporters were against the FED bailing out Wall Street, they should be against this, but they are willing to put principles aside so they can feel good about themselves if their puppet wins

But seriously, Sheldon Adelson gave that guy $16.5 MILLION

DOLLARS!! JUST GAVE IT TO HIM....

and the dude ends up at -$4M? dayum.

(of course he donated it to his PAC so it wasn't the campaign's money to control... but still man, horrible management)

not 16 million

20 million between him and his wife! Nice try sheldon a

Opposition to Tyranny is Obedience to God!

Just a question...

...is Mr Romney allowed to pay off Tim Pawlenty's debt in exchange for an endorsement? Isn't that the same as buying a vote, or does that ruling not apply in Mr Pawlenty's State?

jillwilksbooth

cannot be trusted........still waiting on her reply beware....

It's probably allowed.

And expect to see massive major endorsements, when Goldman Sachs is spending more on the Romney campaign than even Obama.

Fact:

Obama campaign 2008 = #1 monetary Goldman Sachs contribution among all candidates.

Romney campaign 2012 = " " ^^^

That's a whole, whole lotta money to buy anything that's legal. And, that's just physical money too. There is also the free MSM support.

Yeah, the guy we want making financial decisions

Can you imagine what he would do with the nation's finances!!! Geesh.

bigmikedude's picture

Future headline?:

"Gingrich Blows a Ghost to Angry Creditors and Campaign Employees - Says: Check's in the Mail."

What creditors would allow

What creditors would allow him to run up a $4 million debt to begin with?
If I got that much room in dealing with money, I would be tempted to think I might wanna take out a "loan" and leave the country.

To climb the mountain, you must believe you can.

WELL AT LEAST

He didn't cause as much debt as the last three presidents have.

Some see things as they are and say why,but i dream things that never were and say why not. Robert F. Kennedy

Not true. He wasn't

Not true. He wasn't supporting ballanced budget at that time (Clinton's own words). Another thing is that budget was ballanced because they took money from social security. They were just playing with numbers.

USA Today... trustworthy?

I'd like to get verification of that bit about the GOP and Mitt paying off Newt's debt. Mass media are not always 100% reliable, and where Republicans are involved, even less so.

If it is indeed true, that is absolutely the end of any possibility of me donating ANYTHING to the GOP again, pending a thorough changing of the ("old") guard. There is no possible justification for this maneuver. I can see it from Mitt's PoV, but as a longtime Republican, I am certainly not donating to the party to pay off the debts of spendthrift candidates I never supported in the first place!!

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
What is begun in anger, ends in shame.

Newtered!

Always was a whack job!

The Great Wheel

Help me get this straight.

Newt spends and emits hot air
Romney subsidizes Newt
Bankers subsidize Romney
Fed subsidizes bankers
Fed spends what they make from thin air.

Except from the fact that I am unemployed, see my savings evaporate, and don't like any of these fine elites,

... you've got to admit there is some sort of beautiful symmetry in this thievery.

I'll take my Liberty, it's not yours to give.

Looks like you've got it pretty straight.

Now just Copy 'n Paste that Globally.
A cyclical system running on an unsustainable resource—our cooperation.

"We are not human beings having a spiritual experience; we are spiritual beings having a human experience"—Pierre Teilhard de Chardin

Call me old fashioned but...

Shouldn't these a-holes be PERSONALLY RESPONSIBLE for THEIR OWN campaign debt? Why shouldn't these MULTI-MILLIONAIRES who have made their riches off the backs of Joe Q. Public be forced to PAY THEIR DEBT? Mr. "Romance novel best seller/Big shot lobbyist/Big money orator" Gingrich is an absolute slimeball.What can't you pay your debts? Regardless of the $10million your casino buddy tossed to you? Little Ricky, can't put your Pennsylvania mansion on the market? Hildabeast, can't shake a few coins out of papa bear Bubba's pockets? He only makes about $30million a year giving speeches. Really Mr. Glenn? Can't pay off $300k over a span of almost 30 years? Edwards is just waiting for his wife's insurance policy to pay out. And that giant turd Guiliani...don't get me started. This is the face of TRUE campaign finance reform we need, closing up the loopholes these bastards purposely put in the law so they could just throw up their hands and walk away from their obligations. Personally, there should only be ONE SIMPLE campaign finance law: "Get your financing from wherever, however you wish. Be aware you are personally accountable for your financial debt obligations. If you fail in meeting your obligations, your personally property and bank accounts will be seized to the extent that your debts are satisfied."
It makes me sick seeing these 'privileged class' dirt bags sitting in their English gardens, stirring the lumps in their tea with silver spoons and planning their next big scheme, while small business owners are having to eat their losses, stress about THEIR livelihoods and financial situation, and have to bend over and just take it. As a small business owner myself I understand too well how being in this bind affects your physical and spiritual wellness. Were I in their shoes the rage would be hard to quell. How long must we suffer this sort of TRUE injustice?