Saturday, March 3, 2012

Spendthrift Running As A Fiscal Conservative?

Newt Gingrich holds himself up as a model of fiscal discipline. "If the U.S. government was as debt-free as I am, everybody in America would be celebrating," he told reporters last year.  What may be true for Gingrich personally, however, has rarely been the case for organizations he runs.

Since 1984, Gingrich has launched 12 politically oriented organizations and initiatives based in Washington. Of those, five have been investigated by the Internal Revenue Service and the House Ethics Committee, another five closed down with debts totaling more than $500,000, and two were subject to legal action.

According to former colleagues and subordinates, Gingrich burns through money by repeatedly expanding his plans and ignoring warnings from staff about the finances of his projects. Now, the same pattern is threatening his presidential campaign.  If you don't have time to read the well-documented Huffpo piece, then check out their nifty graphic:

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