Will money trouble sink Newt Gingrich's campaign?
The former House speaker is already running on financial fumes — and now his super PAC patron is reportedly cutting him off
The bad news keeps coming for Newt Gingrich. Since his win in South Carolina's primary last month, the former House speaker has been trounced in five states. His campaign, which was down to its last $600,000 before Florida's Jan. 31 vote, has found it increasingly hard to raise cash in the wake of Mitt Romney's landslide win there. And now comes what could be the worst news of all: Billionaire casino mogul Sheldon Adelson, whose family has donated $11 million to the pro-Gingrich Winning Our Future super PAC, has decided to stop sending checks, according to Bloomberg. Will this make it impossible for Gingrich to mount a comeback?
Newt is finished: Sheldon Adelson "rescued Newt Gingrich's campaign in its early days," says Jaywon Choe at Business Insider. Now "he may have just buried it." With Gingrich performing poorly in state after state, Adelson has reportedly met with Mitt Romney, a clear sign he's exploring other options. Even "more alarming" for Newt is that "as money seems to be flooding out" of his camp, it appears to be flowing into his conservative rival Rick Santorum's campaign and super PAC.
"Billionaire Gingrich contributor to cut support"
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Gingrich's conservative fire can save him: Gingrich can still "revive his campaign," says Tony Lee at Human Events, by reminding conservatives of the bold ideas that once pushed him to the top of the polls — an optional 15 percent flat tax, curbing the influence of liberal activist judges, and eliminating the capital gains tax. Don't count Newt out yet.
"Gingrich will try to reset campaign at CPAC"
Newt's odds of a resurgence are getting worse: Gingrich's challenge after Florida "was to stay relevant until Super Tuesday" on March 6, says Justin Sink at The Hill. That means "raising money and solidifying his position as the conservative alternative to Mitt Romney." Obviously, Santorum's wins in Colorado, Minnesota, and Missouri made it tougher for Newt to claim he's the Right's best bet. And without Adelson's money, he can't "match Romney in advertising." Newt will likely wind up "limping into the Super Tuesday contests."
"Report: Adelson done giving to Gingrich as funding dries up"
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
‘Social media is the new tabloid’Instant Opinion Opinion, comment and editorials of the day
-
Can the NBA survive FBI’s gambling investigation?Talking Points A casualty of the ‘sports gambling revolution’
-
How are ICE’s recruitment woes complicating Trump’s immigration agenda?TODAY’S BIG QUESTION Lowered training standards and ‘athletically allergic’ hopefuls are hindering the White House plan to turn the Department of Homeland Security into a federal police force
-
Millions turn out for anti-Trump ‘No Kings’ ralliesSpeed Read An estimated 7 million people participated, 2 million more than at the first ‘No Kings’ protest in June
-
Ghislaine Maxwell: angling for a Trump pardonTalking Point Convicted sex trafficker's testimony could shed new light on president's links to Jeffrey Epstein
-
The last words and final moments of 40 presidentsThe Explainer Some are eloquent quotes worthy of the holders of the highest office in the nation, and others... aren't
-
The JFK files: the truth at last?In The Spotlight More than 64,000 previously classified documents relating the 1963 assassination of John F. Kennedy have been released by the Trump administration
-
'Seriously, not literally': how should the world take Donald Trump?Today's big question White House rhetoric and reality look likely to become increasingly blurred
-
Will Trump's 'madman' strategy pay off?Today's Big Question Incoming US president likes to seem unpredictable but, this time round, world leaders could be wise to his playbook
-
Democrats vs. Republicans: who are US billionaires backing?The Explainer Younger tech titans join 'boys' club throwing money and support' behind President Trump, while older plutocrats quietly rebuke new administration
-
US election: where things stand with one week to goThe Explainer Harris' lead in the polls has been narrowing in Trump's favour, but her campaign remains 'cautiously optimistic'