republicans. you just have to laugh: gingrich ran on fixing americas finances.

Discussion in 'Politics & Religion' started by Free Thinker, Apr 26, 2012.

  1. Newt Gingrich’s Debt

    Newt Gingrich is preparing to make the transition from forgotten-but-not-gone to gone-and-hopefully-forgotten by dropping his presidential campaign next week. And he’s doing it in good Reagan-and-Bush-era Republican fashion – carrying on about fiscal responsibility while piling up a nice fat budget deficit.

    Mr. Gingrich currently has $4.3 million in debt, according to TPM Muckraker – about 20 percent of his Gross Campaign Product, which puts him in Greece territory. He has more debt than any other failed Republican presidential candidate since 1992.

    TPM said he also has $1.5 million in cash on hand, but don’t expect him to use that to pay down his debt. He’ll surely do what politicians have always done: Go back to the well. He’ll hit up the same supporters who just finished throwing away vast sums on his failed bid.

    The other not-Romney candidates managed to lose a lot more economically. Rick Santorum owes $1.9 million, and he was actually a contender for the nomination for a while there. Mr. Gingrich never had a chance.

    Rep. Virginia Foxx must be appalled by Mr. Gingrich’s debt load. Ms. Foxx, you may recall, is the North Carolina Republican who has nothing but contempt for lazy, shiftless people who take out loans to get through college. “I have very little tolerance for people who tell me that they graduate with $200,000 of debt or even $80,000 of debt, because there’s no reason for that,” she said, speaking on the G. Gordon Liddy radio program.
  2. Lucrum


    I guess Pee Drinker forgot he has already posted a similar thread.
    And now Gingrich isn't even a factor.

    Obsessed liberals, you just have to laugh.
  3. How Newt Screwed Himself Over
    April 30, 2012 at 11:34 am Ed Brayton
    I thought from the start that Newt Gingrich never really thought he had any chance of winning the nomination, that his campaign was launched only as a way of getting attention for his book and his network of non-profits and consulting interests. But that seems to have backfired on him in a big way:

    In all other ways, however, Gingrich is a man reduced. And it is not at all clear he will ever be able to get back the many things he has lost.

    These days, Gingrich attracts more attention for having been bitten by a zoo penguin than for a policy proposal, even a totally outlandish one. Recently, at the convention of the National Rifle Association, he proposed an international treaty to make the right to bear arms a universal human right; the nation shrugged, if it even noticed…

    Prior to running for president, Newt Gingrich had built a very good life for himself. The former speaker of the House of Representatives resided in posh McLean, Va., with his third wife, who enjoyed expensive jewelry and singing in church choir.

    He ran a profitable empire of think tanks, wrote and co-wrote books of fiction and nonfiction, appeared on television as a commentator, and traveled the country giving speeches, basking in his role as GOP elder statesman. Inevitably, as he finished one of his fiery orations on the endless circuit of rubber-chicken dinners, local activists would come away starry-eyed, wishing this dazzling man, with his charisma, insight and seemingly endless ideas, would find it in him to run for president.

    Today, much of that empire is in a shambles.

    The Fox News contributor gig is no longer, having been suspended when Gingrich became a candidate, and quietly canceled thereafter. Relations between Gingrich and the cable channel have notably soured. Recently, Gingrich told a Delaware Tea Party group that he felt the network had exhibited a bias against him, accusing it of “distortion”; the network fired back with a biting statement: “He’s still bitter over the termination of his contributor contract.” It seems safe to say that bridge, for Gingrich, has been burned.

    The policy and consulting enterprise Gingrich helmed is similarly on the rocks. American Solutions for Winning the Future, his major nonprofit, shut down last August, and the Gingrich Group, his for-profit advocacy shop, filed for bankruptcy in Georgia earlier this month. Together, the two entities had grossed more than $100 million over the course of a decade, according to Bloomberg. Now, thanks to Gingrich’s quest for the presidency, they are defunct.

    Gingrich’s campaign, nearly $4.5 million in debt, has stooped to renting out its donor and email list for money. On Tuesday, people who’d signed up on Gingrich’s presidential website received, under the heading “A special offer for Newt’s supporters,” an advertisement from LifeLock, an identity-protection company. “Special Offer for Newt Gingrich Fans!” the email said. “30 Days Free + 10% Off LifeLock Membership.”