Politics

Newt in the hole

C.J. Ciaramella Contributor

GOP presidential candidate Newt Gingrich pressed on against the odds through a rough month of June — staff resignations, reports of massive jewelry splurges, poor poll numbers — but the turbulence has left his campaign burdened with debt.

According to a report from Politico, the Gingrich campaign raised approximately $2 million in the second fundraising quarter of the year and ended June with $225,000 in the bank. But the campaign is still about $1 million in debt.

Gingrich attributed the campaign debt to former aides, most of whom resigned in a mass exodus in June. Gingrich has characterized them as outside consultants at odds with his campaign strategies. Speaking to the Los Angeles Times before a Fourth of July parade march in Iowa, Gingrich sought to explain his struggles.

“The fact is a month of media barrage is painful, and it slowed a lot of things down,” Gingrich said. “Our numbers will not be as good as we would like, and candidly, the consultants left us in debt. But every single week since they left we’ve been cutting down the debt, and we raise more than we spend in a week.” (Gingrich says consultants left campaign in debt)

Since the resignations, the Gingrich campaign has worked to cut costs by using volunteers and employing other cost-saving measures.

The Gingrich campaign did not return calls or emails requesting comment.