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In the red: Gingrich holds more debt than cash


This certainly doesn't lend credibility to any candidate running on a platform of fiscal responsibility:

Newt Gingrich has more debt than cash on hand, according to the FEC report he will file today.

A Gingrich source notified Mike Allen that the former House speaker raised $2.62 million in February and spent $2.8 million. That left him with $1.54 million in the bank.

In February, Gingrich's fundraising efforts trailed all other GOP contenders.  Romney brought in $11.5 million, Santorum netted $9 million and Ron Paul raised $3.3 million. Gingrich will undoubtedly carry his debt until he decides to throw in the towel.  My guess would be that he'll use it as a bargaining chip in negotiating the worth of his endorsement.

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