Gingrich spent more than he raised in Feb.
RUSTON, La. – The Newt Gingrich presidential campaign spent more money than it raised in February and entered March still carrying considerable debt, the campaign said Tuesday.
Gingrich raised $2.6 million in February, while he spent $2.8 million and entered March with $1.5 million in his bank account. He carried $1.5 million in debt, down from $1.7 million at the start of the month.
The former U.S. House Speaker from Georgia put special emphasis on raising money in February – including a lengthy trip to California, a state that does not vote until June – as he did not compete in most of the primary and caucus contests waged in that month. But he still raised less than half of his $5.5 million total from January, a sum boosted by his dramatic victory in the Jan. 21 South Carolina primary.
Gingrich spokesman R.C. Hammond, who provided the figures ahead of the campaign finance report posting on the Federal Election Commission website, said that February fundraising kept pace with Gingrich’s numbers in December. He added that the campaign brought in “a couple hundred grand” after its March 6 Georgia primary win. The momentum of that victory was dulled by the fact that Gingrich did not win any of the other nine Super Tuesday contests.
Gingrich trailed all his Republican presidential primary rivals in February fundraising: Former Massachusetts Gov. Mitt Romney reported bringing in $11.5 million, former Pennsylvania Sen. Rick Santorum’s campaign said it raised $9 million, and Texas Rep. Ron Paul’s campaign said it raised about $3.3 million for the month.
President Barack Obama raised a combined $45 million for his campaign and the Democratic National Committee in February.
Gingrich's bid has gotten a serious boost from the Super PAC Winning Our Future, a group funded almost entirely by Las Vegas billionaire Sheldon Adelson. The group reported $5.7 million in February donations, with $5 million of that total coming from Adelson and his wife, Miriam. In all, the couple has given $15 million to the Super PAC, which can take in and spend unlimited amounts as long as it does not coordinate spending with a campaign. Other family members have chipped in as well: A woman named Shelley Maye Adelson, identified as a Nevada homemaker, chipped in $500,000 for Winning Our Future in February.
The Super PAC reported spending about as much as it took in last month, and entered March with about $2.3 million cash on hand. The group has not revealed any new spending since the March 13 primaries in Alabama and Mississippi -- where Gingrich finished in second place to Santorum -- and it is unclear whether Adelson is planning to give more.
Gingrich campaigned in Louisiana on Tuesday ahead of the Saturday primary vote. He often talks about how many small donors he has and urges those in the crowd to give "one Newt gallon" in honor of his promise of $2.50 per gallon gasoline.
He also uses his lack of campaign funding to illustrate the underdog nature of his bid, which is scraping to remain alive in the hopes of spoiling a Romney coronation with a contested Republican convention.
"Unlike Gov. Romney, I can't go to Wall Street to raise $3 million in one night from all the people you gave tax money to, so that they can spend that money on ads," Gingrich told a crowd of about 200 in Monroe, La.
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