Tags: 2012 President Race | | Newt Gingrich | Gingrich | campaign | debt | money

Gingrich: We Have Enough Money, Can Repay Debt

Wednesday, 07 Dec 2011 05:05 PM

Former House Speaker Newt Gingrich’s surge in the polls has made his slow start in the spring a distant memory. However, one thing he is still working to put behind him from those early days is the debt he rang up, The Washington Post reported.

The Gingrich campaign has begun to pay back about $1.2 million owed at the end of September and should have it cleared by the end of the year, his spokesman told the Post. Many of the bills date to the early days of the campaign and include expenditures on private plane flights.

“We are beginning to pay off our debts and obligations that the campaign owed. That will be an ongoing process,” campaign spokesman R.C. Hammond told the Post. “We have passed a threshold here. Our fundraising has been consistently good for a number of weeks.”

Aides to Gingrich say the campaign had caught a wave of fundraising recently and has made a $250,000 ad buy in Iowa.

“I think we’ll have enough money,” Gingrich said. “We’ll never have as much money as Mitt Romney, but I think we’ll have enough money. We’ll have a sufficiency to be very, very competitive.”

Gingrich has cut back on spending since the near collapse of his campaign in June. He now flies commercial, sometimes drives himself to appearances and have even bunked with friends, campaign aides tell the Post.

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