Now Newt's campaign debt from 2012 is making the news. I have no idea why. It certainly is not an interesting story.
From Huffington Post -- the source authority this summer for the Never Trump movement:
Gingrich filed a document with the Federal Election Commission this week detailing a debt settlement plan to finally terminate his 2012 presidential campaign committee. The document shows that “Newt 2012” plans to stiff 114 businesses and consultants that are altogether owed $4.6 million.
While the FEC general counsel found reason to believe the allegations in the complaint, the six commissioners split along ideological lines in a 3-3 vote, it did not penalize Gingrich. Instead, the campaign agreed to file a debt settlement plan and terminate in 2016. The plan was originally due on May 23, but Gingrich was granted an extension until August 1.
The debt settlement plan document indicates the “total amount to be paid to creditors” is zero dollars.This is not uncommon. Politicians love to stiff vendors. This is why smart printers demand cash up front for signs and the like.
But the Huffington Post buried the lead in paragraph seven:
It’s common for political campaigns to wind up in debt that takes years to pay off ― President Barack Obama’s 2012 campaign still owes $725,583, down from nearly $2 million two years ago ― but Gingrich owes an unusually large amount from his battle with Mitt Romney in the 2012 Republican primary.What?
Obama raised a record amount for a re-election effort -- $722,393,592.
And that still wasn't enough?
By the way, Obama spent $1.5 billion in his two presidential campaigns. Incredible.
And still he owes on those campaigns.
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