Newt Gingrich Had Second Line of Credit at Tiffany’s
EmailABC News’ Arlette Saenz (@arlette saenz) reports:
Newt Gingrich's presidential campaign acknowledged today that Gingrich had a second line of credit at high-end jewelry store Tiffany's for as much as $1 million.
As first reported by the Washington Post, Joe DeSantis, spokesman for the Gingrich campaign, said Gingrich's personal financial disclosure filing due 30 days after his declared candidacy will reveal “the Gingriches had a $500,000 to $1 million line of credit at Tiffany's, that it has zero balance, and it has been closed.”
DeSantis said all debts to Tiffany's had been paid and offered no information regarding when the line of credit was obtained, when it was closed, or what it was used to purchase.
Sources told ABC News the Gingrich campaign was worried about what the next filing would reveal. The Gingrich campaign asked for a 45 day extension on the personal financial disclosure filing from the FEC which lasts until July 25. The filing will encompass personal financial disclosures since January 2010.
Reports of Gingrich's first line of credit with Tiffany's emerged on May 17, six days after Gingrich announced his candidacy via Twitter.
Gingrich defended the Tiffany's account he and his wife held on CBS' "Face the Nation" on May 22, saying they are “very frugal.”
“Well, go talk to Tiffany's. All I'm telling you is we are very frugal. We, in fact, live within our budget. We owe nothing,” Gingrich said. “I'm a guy running for president who pays out of his bills in after-tax income at no cost to the taxpayer and who currently owes nothing except one rental property in Wisconsin. I am debt free.”
On Monday, two top fundraisers for the Gingrich campaign finance team resigned.
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Why do we care if Newt Gingrich had an account at Tiffany’s? …or five accounts for that matter.
Posted by: Rick | June 21, 2011, 9:04 pm 9:04 pm
Hi
Just would like to say I watch Diane Sawyers every night and I absolutely think David Muir is the best. I have been wanting to say this for a long time. Can’t wait to see his interview with the First Lady in Africa. Love his made in America bits. We need more of that in this country. Thanks for letting me vent.
Posted by: kay reusch | June 21, 2011, 9:05 pm 9:05 pm
Rick we care because Newt is a big mouth windbag politician that wants to be president and decide how the rest of us live.
Posted by: JR | June 21, 2011, 9:09 pm 9:09 pm
I’m not sure why this is a story? so he has a line of credit of a million bucks. Doesn’t that show him as being responsible and creditworthy? I must be missing the big picture here. I hate to say this, but I really need one of you libs to explain to me why this is considered “telling news”….now if he OWED Tiffany’s a million bucks and was behind in his payments, I could see why ABC would present this a typical smear attempt. But to report that a man has a high line of credit and is essentially debt free……….I guess I just haven’t quite learned the new definition of “bad”.
Posted by: ncpilot15 | June 21, 2011, 9:10 pm 9:10 pm
And JR….how does his GOOD finances reflect poorly on him? You would rather have a big mouth lying socialist free spending hollywood wannabe as president? Oh yeah…we already got one of them.
Posted by: ncpilot15 | June 21, 2011, 9:14 pm 9:14 pm
My guess is that it is important because it demonstrate that this is a person that is not relatable to the average American that certainly is not shopping at Tiffany’s; and, is most likely to never qualify for a $500 to $1M line of credit.
Posted by: Susan | June 21, 2011, 9:19 pm 9:19 pm
This reporter is totally in the tank for Obama and the democratic party. The American way is to earn as much money as your potential allows, and the people that buy into this crap are the ones who blame everyone else for their station in life, and these reporters pander to it. There’s nothing wrong with having a credit line and it’s even better to not have a balance. Yes, not owing massive debt is a good thing. Instead, this vermin reporter should be reporting on the massive debt obama has run up and what it’s doing to our country.
Posted by: piezanno | June 21, 2011, 9:37 pm 9:37 pm
frugal and tiffany’s are a oxymoron. frugal is shopping at k-mart, target, wal-mart or the dollar store. tifany is for rich people, and it’s not in the least frugal.
Posted by: maximumrider | June 21, 2011, 9:43 pm 9:43 pm
….follow the Money Baby!
Posted by: Kenneth the VI of Minneapolis | June 21, 2011, 9:46 pm 9:46 pm
@Maximumrider, you fail to realize that there are tiers being rich….the poor rich has to shop at Tiffany’s, the super rich, have Tiffany’s make house calls.
Posted by: Kenneth the VI of Minneapolis | June 21, 2011, 9:49 pm 9:49 pm
Congrats to Newt for being financially responsible. Having said that, I am skeptical that anyone who has a total credit limit in excess of $1.5M at a ultra-luxurious jewelry shop can really relate to the average Americans who are struggling to make ends meet during these tough economic times. $1.5 million is more than 30 times the average American household income. Whether or not he acually used part or all of that credit to buy jewely is not the issue. My question is, can this man really feel our pain? Pain of not being able to send our kids to college, or worrying whether or not the check will bounce. These are not the concerns of the lazy. These are the problems many of us hard-working, tax-paying Americans are facing right now. Can a guy who takes in promptu overseas vacations whenever he wishes really understand and speak on behalf of the average Americans?
Posted by: Joe | June 21, 2011, 9:50 pm 9:50 pm
Joe, I understand what you are saying….but why are you giving obama a pass again? He has a net worth greater than Newt. He takes impromptu trips, say to Puerto Rico to suck up the hispanic vote, and to Ireland to claim he’s Irish American for their votes……yet he can relate??
Posted by: ncpilot15 | June 21, 2011, 9:57 pm 9:57 pm
Who cares? Who’s business is it besides HIS!!!!!
Find crap to sling on the Democrats side.
Posted by: alan | June 21, 2011, 9:59 pm 9:59 pm
So … does not Obama buy Michelle expensive jewelry? Do they not live high on the hog? Why is this considered bad? If Newt pays the bills, who cares? Good God, the Obamas live VERY extravagantly.
Posted by: Liz | June 21, 2011, 10:01 pm 10:01 pm
Newt’s net worth is estimated to be at $10 million dollars. Obama’s net worth…about $10.5 million dollars. But you libs want to stomp your widdle feet over the conservative.
Posted by: ncpilot15 | June 21, 2011, 10:06 pm 10:06 pm
….and I guess it IS bad, in liberal-speak, to be fiscally responsible, to pay one’s bills, and to no rely too heavily on the nanny state. NOW I get the picture. You guys absolutely hate success.
Posted by: ncpilot15 | June 21, 2011, 10:08 pm 10:08 pm
I did not vote for Obama. And no, I do not believe Obama can relate to most of us either. I just hope the decision does not come down to Obama vs. Gingrich. I hope there is a better candidate out there than Newt to take on Obama.
Posted by: Joe | June 21, 2011, 10:14 pm 10:14 pm
There seems to be a misunderstanding that being unimpressed with Gingrich automatically makes one a die-hard liberal Democrat. This is not true. Even a conservative, registered Republican is entitled to not support a GOP candidate if he judges that candidate to be out of touch with the mainstream USA.
Posted by: Joe | June 21, 2011, 10:22 pm 10:22 pm
The best predictive model of behavior for both Newt Gingrich and Sarah Palin is that of political grifters.
Posted by: David | June 21, 2011, 10:30 pm 10:30 pm
I think the issue is not that Mr. Gingrich COULD have a $1 million credit line with Tiffany’s … but that he chose to go ahead and open the account while purporting to be “frugal”. Don’t you all find that a little disingenuous? Further, I find it remarkable that Mr. Gingrich has been able to do this on a public servant’s salary … essentially he’s been in politics his entire life. I’ll tell ya, I’m in da wrong business.
Posted by: WileyinCA | June 22, 2011, 1:07 am 1:07 am
As far as frugal and “feeling our pain”, he grew up an “army brat” and was a history teacher in public university in rural Georgia for many years. You can say having this credit line at Tiffany’s means he got away from his roots, I would say it is reading too much into it.
Posted by: Dave | June 22, 2011, 1:33 am 1:33 am
David – As far as making this kind of money on a public servant’s salary – 1. Being a representative in Congress does pay well. 2. He hasn’t been in congress in many years. 3. He is a best selling author many times over. 4. He is paid for his speaking appearances.
All of this has nothing to do with his political positions.
Posted by: Dave | June 22, 2011, 1:38 am 1:38 am
Can you imagine how much better the world would be if the Liberal Media had done 1/1000th the investigative work on Obama when he ran for President?
Little things like his decades long association with FAR FAR Left Radicals.
His completely blank resume. His Marxist upbringing.
Or how about once he was in the Media start running EVEN a google name search on the DOZENS of Self described Socialists that he has put into positions of power. America would be far better off if the Liberal Media would do its job and stop trying to shape public opinion and instead just show the radicals that literally surround Obama.
But we know that will never happen. “Mainstream” media is so far out of touch with the values that the average American holds. Any wonder why the news programs for the media are literally plummeting (lost 55% of their viewers in the last few years)??????
One of these days one of them might just wake up. I doubt it and am sure that they will continue to tell us that Obama is wonderful and we are lucky to have such a suave, smart and talented man as President. Meanwhile we are literally on the edge as a Country.
Posted by: Rick Allen | June 22, 2011, 5:57 am 5:57 am
NCPilot- Its been a long time since a “regular guy” was elected President. They have all been wealthy people. No news that another wealthy person is running for the office.
Posted by: Bob z | June 22, 2011, 6:02 am 6:02 am
Wileyinca…concerning your comments of 1:37am: “… but that he chose to go ahead and open the account while purporting to be “frugal”. Don’t you all find that a little disingenuous?” No, not at all. I am a frugal person, I am debt free, own my house free and clear, and recently retired at age 60. While I certainly don’t NEED a line of credit, I have a $300,000 line of credit on my home. I owe nothing on it, but opened in nonetheless. I don’t think it’s disigeneous at all. I also have a line of credit with Chase, Sears, and, “what’s in your wallet”, Capital One. It’s really not all that unusual. What IS unusual and disingeneous is the people who open lines of credit with no intent of ever paying back the loans. I know that my line of credit pales to the $1 million LOC that Gingrich has, but his net worth is about 8 times mine…so I don’t begrudge that to him at all. Oh, the lengths that some libs will go in attempts to smear him. As in your next claim that casts suspicion on his ability to have money at all, since he’s “been a public servant his entire life”. Well, see? That’s just a typical “drive by” comment to drop. Gingrich started his working life as a professor in history and an author. He went into politics (successfully, that is) when he was 35 years old. After his “public service” life ended in 1998, he continued to work (an abstract notion to most liberals) as a political strategist. Also, he has authored over 20 books. So, I would say that he has earned his salary, and I say this even though I will not support his run for the nomination of the GOP presidential candidacy. However, should he become the candidate to oppose obama, I will support him with every means at my disposal.
Posted by: ncpilot15 | June 22, 2011, 7:14 am 7:14 am
bobz…i know that. And yet it contnues to amaze me the direction in which the “progressives” have tried to move this country: that success MUST be punished and disdained. Hence, this pathetic attempt at a smear on “the enemy”. Yet, their blinders totally prevent them from seeing that the richest members of congress are all Democrats. Sort of reminds me of the Wizard of Oz: “Pay no attention to the man behind the curtain….”
Posted by: ncpilot15 | June 22, 2011, 7:23 am 7:23 am