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Bradley in DC
09-24-2007, 06:26 AM
Gingrich cash doesn't measure up
http://www.politico.com/news/stories/0907/5967.html

By: Kenneth P. Vogel
Sep 22, 2007 08:58 AM EST

Newt Gingrich said this week he might consider jumping into the race for the Republican presidential nomination if he can get $30 million in pledged donations by November.

If the actual contributions raised by his political group are any indication, he shouldn’t hold his breath for that $30 million.

Since establishing the group, American Solutions for Winning the Future, late last year, Gingrich, a former speaker of the House, has pulled in $3.5 million, according to the group’s reports to the IRS.

Compare that with the leading Republican presidential candidates. This year, former Massachusetts Gov. Mitt Romney raked in $35 million (not including $9 million he has loaned his campaign), former New York City Mayor Rudolph Giuliani raised $34 million and Sen. John McCain of Arizona took in $25 million. And leading Democrats are far outpacing the Republicans. . .

Consider American Solutions’ August report, filed Thursday with the IRS.

Of the $568,000 the group raised last month, at least $130,000 came from contributions that would be barred by federal campaign rules. It got $50,000 from New York Jets owner Robert W. Johnson IV, $25,000 each from business owner Terry J. Kohler of Wisconsin and real estate investor Fred R. Sacher of California, and $10,000 a piece from J. Smith Lanier of Georgia, Clark Wamberg, LLC, of Illinois and Las Vegas lender Worldwide Assets Inc. — a corporation barred from giving to federal campaigns.

Gingrich’s group spent $785,000 last month, according to the report, bringing its total expenditures to more than $2.4 million since its inception. Expenses include paying staff, airing ads and traveling the country to attend political events — activities similar to a presidential candidates’. In August, it paid nine staffers and spent more than $75,000 on travel, according to the report. . .