Newt Gingrich saw more members of his presidential campaign bolt yesterday. This time it was his top fundraising consultants. Any time fundraisers either leave voluntarily or are jettisoned by a campaign just days before an importing fundraising deadline, things are not going well.
Unnamed sources told the Associated Press that Gingrich’s campaign is in debt to the tune of over $1 million. If that is the case it easy to understand why essentially all of Gingrich’s campaign staff quit at the same time. The immense amount of debt could also explain why Gingrich has shown no sign of dropping out of the race. With that amount of debt, it would be very difficult to raise that type of money without still being a candidate.
If the news of Gingrich’s fundraising staff leaving wasn’t bad enough, the Tiffany’s scandal also returned to haunt Gingrich. This time his campaign is admitting that the Gingriches had another line of credit with Tiffany’s than the one that was reported earlier. This additional line of credit was for $500,000 to $1 million, which the campaign says has been paid off.
The chances that Gingrich is somehow going to become a contender in this race are very slim. It seems to me that Gingrich is staying in the race to rebuild his credibility as the idea man of the Republican Party while also trying to raise enough money to pay off his debts.
Photo by Dave Davidson
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