HomeWorld NewsNewt Gingrich is a self-avowed fiscal conservative and deficit hawk. But his...

Newt Gingrich is a self-avowed fiscal conservative and deficit hawk. But his 2012 presidential campaign committee is still swimming in debt.

Newt Gingrich.AP Photo/Efrem Lukatsky

  • Gingrich’s newest 2012 presidential campaign submitting reveals a debt of $4.63 million.

  • No presidential campaign from any election cycle owes collectors more cash, per federal information.

  • Gingrich has been calling for a balanced federal price range, writing “open-ended spending encourages waste.”

Former House Speaker Newt Gingrich is a self-styled fiscal conservative who requires a balanced federal price range. He’s additionally actively helping Republicans win again the US House in 2022.

But Gingrich’s 2012 presidential campaign committee, virtually a decade previous its expiration date, is still swimming in a sea of crimson.

The “Newt 2012” campaign committee stays technically lively and greater than $4.63 million in debt, in accordance with financial filing submitted Saturday to the Federal Election Commission. No presidential campaign from any election cycle owes collectors more cash.

The campaign had $747.28 in the financial institution as of December 31, the submitting signifies.

Newt Gingrich financial filing for 2021

Newt Gingrich’s 2012 presidential campaign committee stays greater than $4.63 million in debt, in accordance with a disclosure filed January 29, 2022, with the Federal Election Commission.Federal Election Commission

Among these collectors are a host of political consultants, in addition to Comcast, Twitter, FedEx and a company run by the late Herman Cain, who additionally ran in the 2012 Republican presidential major and died from COVID-19 in 2020.

Newt 2012’s excellent debt to Herman Cain Solutions, which has dissolved, is $16,525 for strategic consulting and journey.

Newt 2012 even owes Gingrich himself $649,117 for journey bills.

Although Gingrich has made little effort to boost cash to pay down his 2012 presidential campaign’s money owed, he is a frequent fundraising pitchman for different Republican committees.

“Our dreams of FIRING Lame Duck Speaker Nancy Pelosi won’t come true unless you step up IMMEDIATELY and renew your membership,” Gingrich wrote January 26 in a fundraising e mail for the National Republican Congressional Committee.

NRCC email

A National Republican Congressional Committee fundraising e mail signed by Newt Gingrich.NRCC

Gingrich couldn’t be reached for touch upon his campaign committee’s debt, which has remained successfully the identical for nearly a decade.

In 2012, a Gingrich spokesperson told Politico: “Our preference is obviously not to have gone into debt. If we could eliminate the debt overnight, we would. But realistically, this will take years.”

Gingrich, the chief of the 1994 “Republican Revolution” who then delivered a House majority for the GOP for the primary time in 40 years, has been advising House Minority Leader Kevin McCarthy of California as Republicans craft a 2022 midterm re-election technique.

Earlier this month, Gingrich detailed in a blog post what he thought of to be the nation’s “real threats.” Among them: “The current system of open-ended spending encourages waste.”

Gingrich known as for balancing the federal price range, saying it is a “requirement for our long-term health as a country.”

“It will lower inflation, lower interest rates, lower the burden on our children and grandchildren, and rebuild our capacity to renew the world’s reserve currency with leverage over China, Russia, and others,” he wrote.

At least one different also-ran presidential candidate on Saturday reported some surplus cash from a long-dormant political committee: Democrat Hillary Clinton’s 2000 and 2006 US Senate campaign committee still has $22,343 on its stability sheet as of December 31, FEC information present.

Beyond doing nothing, Clinton’s committee may donate the cash to charity, give it to a different political committee, or disgorge it to the US Treasury.

Gingrich and Clinton have lengthy been political foes. In 1995, Gingrich’s mom revealed to journalist Connie Chung in a controversial TV interview that her son instructed her Clinton was a “bitch.”

Read the unique article on Business Insider

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