October 16, 2011
Former House of Representatives Speaker Newt Gingrich’s Republican presidential effort raised $808,000 in the third quarter but has more than $1 million in debt, his campaign said on Saturday.
Gingrich, who launched his candidacy in May to challenge Democratic President Barack Obama in the 2012 election, has called for a balanced budget as well as cuts in spending and corporate tax rates, ideas popular among conservative Republicans.
But he has struggled with low poll numbers and experienced an exodus of campaign staffers over the summer.
He ended the period with roughly $350,000 cash on hand, having spent over $770,000, his campaign said.