A gaggle of former Republican presidential candidates dedicated to slashing the national debt have failed to pay off their own.
Chief among them: Newt Gingrich, whose campaign owed more than $4.9 million as of Sept. 30 to dozens of different creditors, new federal records show.
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Unpaid bills for telemarketing, travel, advertising, ballot fees, event production, Web hosting, equipment rentals and consulting and legal services rank among the reasons for the debt.
Remarkably, Gingrich’s debt grew by over $50,000 in the third quarter of 2012 despite his having long dropped out of the presidential race. Gingrich campaign expenses of late ranged from salaries and travel to consulting and telecom services.
Compared to Gingrich, ex-Sen. Rick Santorum finds himself in better shape financially. The former Pennsylvania senator’s campaign still owes 14 vendors a combined $1.13 million — about half of that to consulting firm Brabender Cox for media consulting and placement services. That’s an improvement from the $1.51 million in debt Santorum’s campaign reported through July.
Rep. Michele Bachmann (R-Minn.) made some progress paying down debt in the 3rd quarter, reducing her liabilities from $934,930 as of June 30 to $607,218 on Sept. 30 thanks in large part to more than $211,000 in transfers from her congressional committee, federal records show.
Herman Cain is also owed $450,000 from his presidential committee in the form of outstanding loans and unpaid travel expenses.
But recent presidential candidates aren’t the only ones struggling to balance their books.
Former New York Mayor Rudy Giuliani’s ill-fated 2008 presidential campaign remains $1.5 million in debt — not including $1.1 million in loans the campaign has yet to repay Giuliani himself, according to his third-quarter filing, submitted Monday.
Democrat Hillary Clinton’s 2008 presidential committee still owes political consulting firm Penn Schoen Berland $73,000 for polling and mail services.
Other presidential committees still under water through September include those of Alan Keyes in 2000 ($301,144), Gary Bauer in 2000 ($108,557), former Sen. John Edwards in 2004 ($333,586); Rep. Dennis Kucinich in 2004 ($493,910) and 2008 ($52,503) and Libertarian candidate and former Rep. Bob Barr in 2008 ($157,000).
Bill Clinton’s 1996 primary committee remains $100,000 in the red — the committee disputes this — for consulting and polling-related debt, more than 16 years after incurring the expenses. Separately, the Clinton/Gore ‘96 General Committee reported another $14,815 in disputed debt.
Perhaps they should all consult with Ron Paul: The Texas congressman’s most recent presidential committee report indicated a $2 million surplus and no debt.
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