Newt Gingrich is a self-avowed fiscal conservative and deficit hawk. But his 2012 presidential campaign committee remains millions in debt.
- Gingrich's latest 2012 presidential campaign filing shows a debt of $4.63 million.
- No presidential campaign from any election cycle owes creditors more money, per federal records.
Former House Speaker Newt Gingrich is a self-styled fiscal conservative who calls for a balanced federal budget. He's also actively helping Republicans win back the US House in 2022. He's fundraising for former President Donald Trump's political network.
But Gingrich's 2012 presidential campaign committee, almost a decade past its expiration date, is still swimming in a sea of red.
The "Newt 2012" campaign committee remains technically active and more than $4.63 million in debt, according to a financial filing the committee submitted October 14 to the Federal Election Commission. No presidential campaign from any election cycle owes creditors more money.
Gingrich's old campaign committee had $242.56 in the bank as of September 30, the filing indicates.
Among those creditors are a host of political consultants, as well as Comcast, Twitter, FedEx and an organization run by the late Herman Cain, who also ran in the 2012 Republican presidential primary and died from COVID-19 in 2020.
Newt 2012's outstanding debt to Herman Cain Solutions, which has dissolved, is $16,525 for strategic consulting and travel.
Newt 2012 even owes Gingrich himself $649,117 for travel expenses.
Although Gingrich has made little effort to raise money to pay down his 2012 presidential campaign's debts, he's a frequent fundraising pitchman for other Republican committees. They include the Republican National Committee, National Republican Congressional Committee, congressional candidate Sarah Palin in Alaska, and Trump's post-presidential political fundraising network.
"As a Trump Gold Cardholder, you will play a crucial role in President Trump's efforts to save our Nation. You will be someone President Trump will turn to when he needs help most. I know he trusts you," Gingrich wrote July 11 on behalf of Save America JFC, a joint fundraising committee led by Trump. "Please contribute $45 or more by 11:59 PM TONIGHT to activate your membership and we'll send you your PERSONALIZED Trump Gold Card."
Gingrich could not be reached for comment on his campaign committee's debt, which has remained effectively the same for almost 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 leader of the 1994 "Republican Revolution" who then delivered a House majority for the GOP for the first time in 40 years, has been advising House Minority Leader Kevin McCarthy of California as Republicans craft a 2022 midterm re-election strategy.
Earlier this year, Gingrich detailed in a blog post what he considered to be the country's "real threats." Among them: "The current system of open-ended spending encourages waste."
Gingrich called for balancing the federal budget, saying it's 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.
This article was originally published on January 29, 2022, and updated to include new campaign finance data and fundraising developments.