Newt Gingrich Raised $2 Million in Second Quarter, Campaign Still In Debt

By Dschabner

Jul 5, 2011 11:01pm

ABC News' Arlette Saenz reports:

Newt Gingrich will report raising approximately $2 million in the second fundraising quarter of the year, but his campaign is still struggling with over a million dollars in debt accrued from the early days of his campaign.

As first reported by Politico, Gingrich has paid off 10 percent of $1.2 million in invoices since most of his senior advisers resigned June 9. At the end of June, Gingrich’s campaign held $225,000 in the bank.

In mid June, Gingrich’s finance team quit the campaign, and Gingrich has recently conceded the campaign’s financial situation is troubled.

“The fact is a month of media barrage is painful, and it slowed a lot of things down,” Gingrich told the Los Angeles Times in Clear Lake, Iowa on Monday. “Our numbers will not be as good as we would like, and candidly, the consultants left us in debt. But every single week since they left we’ve been cutting down the debt, and we raise more than we spend in a week.”

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