ORLANDO, Fla. – Newt Gingrich’s presidential campaign raised $9.8 million in the last three months of 2011, according to federal filings released this afternoon, and raised $5 million in January according to a campaign spokesman.
Gingrich raised a total of $12.7 million in 2011. The haul puts him well behind Gingrich’s chief competitor for the Republican nomination, former Massachusetts Gov. Mitt Romney, who reported raising $56 million last year.
Gingrich began this year with $2.1 million in the bank but $1.1 million in outstanding debt. Aides have described his campaign as spending money as fast as it can take it in. On the trail, Gingrich often contrasts his “people power” to Romney’s “money power.”
The spending of all campaigns has been amplified by Super PACs, which can take in unlimited amounts but not coordinate spending with campaigns. The major Super PACs backing Gingrich (Winning Our Future) and Romney (Restore Our Future) have not released their 2011 fundraising totals. Nevada billionaire Sheldon Adelson has acknowledged giving Winning Our Future $10 million -- nearly matching all of Gingrich's 2011 donations.
Gingrich’s money woes and heavy debt were a key factor in a mass departure in June that nearly ended his candidacy, but the former U.S. House Speaker from Georgia resurrected his campaign and has managed to outlast most of his rivals for the nomination.
Of the other remaining candidates, Texas Rep. Ron Paul reported raising $13 million in the fourth quarter. Former Pennsylvania Sen. Rick Santorum has not released his fourth quarter figures.
President Barack Obama raised $42 million for his re-election campaign in the fourth quarter of 2011, in addition to $24 million for the Democratic National Committee.
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