FEC Reports: Gingrich Campaign Ended March With More Than $4.3 Million Debt UPDATE: ‘State of Confusion’ Over Gingrich’s North Carolina Schedule
Posted on | April 20, 2012 | 15 Comments
Former House Speaker Newt Gingrich’s presidential campaign finished March with debts of more than $4.3 million, according to his report released to the Federal Election Commisssion today.
Gingrich’s monthly fundraising fell by 35% in March, declining to $1.7 million from the $2.6 million he raised in February, but his campaign’s spending declined more slowly, to $2.0 million from the February total of $2.9 million. Gingrich’s campaign had finished February with about $1.55 million campaign debt, slightly more than its cash on hand total. The campaign’s debt at the end of March, however, exceeded its cash on hand by more than $3 million.
For the second consecutive month, Gingrich raised less than either of the three other Republican candidates, including Texas Rep. Ron Paul, who raised about $2.6 million in March.
Rick Santorum raised slightly more than $5 million in March, but spent about $5.8 million, finishing the month with about $185,000 more in debt ($2 milllion) than cash on hand ($1.8 million). Santorum suspended his campaign April 10, a week after losing the April 3 Wisconsin primary.
Gingrich has said he will continue campaigning, but on Friday the former House speaker suddenly canceled appearances in North Carolina scheduled for next week. His campaign spokesman said Friday that Gingrich will remain in the race and keep his Secret Service protection, which reportedly costs taxpayer more than $40,000 a day. “He’s still a candidate,” Gingrich spokesman R.C. Hammond told the New York Times. “The nomination is not over.”
Mitt Romney, now the presumptive Republican nominee, raised more than $13 million in March, spent about $10.3 million, and finished the month with about $10 million cash on hand and no debt.
President Obama’s re-election campaign, meanwhile, raised $35 million in March and spent only $15.6 million, ending the month with a total of $104 million cash on hand.
UPDATE: Elicia Dover of ABC News reports a “state of confusion” in the Gingrich campaign about the candidate’s North Carolina schedule:
Two people close to the Gingrich campaign told ABC News they were contacted and told all of Gingrich’s North Carolina stops had been canceled, although R.C. Hammond, communications director for the campaign, said there was a “communication glitch.”
“There was confusion, but we will maintain our North Carolina schedule next week,” Hammond said.
One person close to the campaign said the stops were certainly canceled, then resumed after news reports left looming suspicion, even among his own staff, that Gingrich was suspending his campaign. . . .
Hammond denied the stops were resumed purely to extinguish speculation Gingrich was dropping out.
UPDATE II: Linked by Allahpundit at Hot Air. Thanks.
UPDATE III: R.C. Hammond tells CBS News that Newt sees “a sign that we need to keep scrapping, keep fighting.” CBS notes that Gingrich’s “Winning Our Future” super-PAC got its last $5 million check from casino mogul Sheldon Adelson on March 21, three days before the Louisiana primary, where Gingrich placed a distant third.
UPDATE IV: Alex Moe of NBC News reports that Gingrich has been spending most of his time in Delaware, which holds its primary Tuesday, and quotes “a source close to the Gingrich campaign” as saying: “Tuesday is a big day. … Newt is just waiting to see what happens on Tuesday.”
What will happen Tuesday is, Newt will lose.
By the way, Newt’s campaign was the last to file its FEC report Friday. Ron Paul’s report was posted about 12:30 p.m., Mitt Romney’s about 2:30 p.m., and Rick Santorum about 4:45 p.m. The Gingrich campaign’s report didn’t go online until after 8 p.m., which almost guaranteed that it wouldn’t be reported in Saturday’s papers.
UPDATE V: There is probably some kind of literary metaphor in this report from ABC News:
The campaign’s list of debts and obligations is long, but Gingrich owes the most money to Moby Dick Airways Ltd., a private charter company based in Sterling, Virginia.
“Call me Ishmael.”
- April 12: The Fox Factor: Newt, Sarah, Mitt, Rick, Bias and ‘The Mother of All Spin-Jobs’
- April 8: Predictable: Gingrich Admits He Owes More Than $4 Million Campaign Debt
- April 6: Memo From the National Affairs Desk: Eyewitness to History in Florida
- April 5: The Last Nail in Newt’s Coffin UPDATE: Conservative Leaders Huddle With Santorum, Seek Deal With Newt
- April 2: Newt Neutered: Gingrich’s Pathetic Shadow Campaign Stumbles Onward
- March 28: NEWT MET SECRETLY WITH MITT BEFORE LOUISIANA PRIMARY