Somehow, Newt Gingrich’s debt is growing.
He’s no longer running for president, but as is always the case with erstwhile candidates, his campaign committee lives on, raising money and incurring minimal costs, as it continues its financial wind-down.
Gingrich’s campaign has always had a debt problem: On the first disclosure Gingrich ever filed with the Federal Election Commission during his recent White House run, in July 2011, he reported owing $708,000 more than he had in the bank.
Since then, Gingrich’s debt has grown, and it’s still growing. After beginning his campaign with $1 million in debt last July, he owed $4.8 million two days before his May 2 withdrawal from the race. At the end of May, Newt had paid off just a bit, owing only $4.7 million.
But according to a disclosure he filed with the FEC today, Gingrich was back up to $4.8 million in debt at the end of June–an increase of $122,000. With $60,000 in the bank, he owes just under $4.8 million more than he has.
To whom does Gingrich owe this glut of ducats? Here are Gingrich’s top seven creditors, as listed on his most recent FEC paperwork. Surprisingly, none of them are zoos:
- Moby Dick Airways LTD (Washington, D.C.) – $1,019,572 – Travel
- Patriot Group (Warrenton, Va.) – $456,370 – Security Services
- Gordon C. James Public Relations (Washington, D.C.) – $174,477 – Public Relations Consulting
- Event Strategies Inc. (Alexandria, Va.) – $149,700 – Event Production
- Southwest Publishing (Topeka, Kan.) – $108,460.12 – Direct Mail
- The Polling Company (Washington, D.C.) – $100,565. – Polling/travel
- Crimson Hexagon (Boston, Mass.) – $100,000 – Software Licence-IN DISPUTE