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.
Sounds like Gingrich’s campaign should get an award for profligacy.
A “funny” story about spendthrift campaigns:
Sen. John Glenn (D-Ohio) stands alone. He still owed banks, lawyers, a bumper-sticker maker, 161 former campaign workers and other creditors nearly $3 million more than 20 years after his failed run for president in 1984.
Glenn waved a white flag in 2005, notifying the Federal Election Commission that he was unable to pay them back. The following year the agency gave him permission to disband his campaign committee.
Hat tip: Political Wire.