Gingrich presidential campaign $1 million in debt

Reuters News
Posted: Jul 15, 2011 5:53 PM
Gingrich presidential campaign $1 million in debt

WASHINGTON (Reuters) - Presidential hopeful Newt Gingrich, whose campaign has been dogged by staff resignations and other woes, is nearly $1 million in debt, a filing with electoral regulators on Friday showed.

The report to the Federal Election Committee also showed Gingrich raised $2.1 million in the second quarter.

The campaign has struggled since Gingrich, a former speaker of the U.S. House of Representatives, criticized a fellow Republican's health care plan and took a long foreign vacation, demoralizing some staff.

Candidates are required to report their second-quarter fundraising to federal regulators by midnight on Friday.

The campaign also reported having just $322,000 in cash on hand.

Gingrich's campaign cash is dwarfed by all the major players in the race, most notably front-runner Mitt Romney, who reported raising $18.25 million in the quarter.