Gingrich fundraising plummets after Florida loss

Newt Gingrich campaigns at the Wiregrass Museum of Art on March 10, 2012 in Dothan, Ala.

/ Mark Wallheiser/Getty Images

(CBS News) The Gingrich campaign announced that it raised $2.6 million in February, a significant decline from its January haul of $5.5 million and the lowest fundraising total posted by the four remaining presidential candidates for the month.

According to Gingrich spokesman R.C. Hammond, the campaign currently has $1.5 million cash on hand, but also had debts equaling that amount. The campaign has carried debt since last summer, when much of the staff resigned over disagreements with the candidate.

The drop-off in Gingrich's fundraising may be explained by his 15 percentage-point loss to Mitt Romney in Florida's primary on Jan. 31st, a major setback that the campaign has yet to fully recover from. Following the loss, Gingrich spent a good part of the next two weeks holding meetings and fundraisers in Nevada and California.

The former House speaker likes to tout the amount of small donors giving to his campaign, but these numbers, too, appear to have slowed in recent days. While campaigning in Georgia in late February, Gingrich said he was approaching 170,000 donors. Nearly a month later, the number has grown by only about 6,000 donors.

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Newt Gingrich on the campaign trail

[AJs-ideas]

Again they try and pry Newts fingers off the ledge. He frantically fights againsts the inevitable fall into Political obscurity which awaits immediately after he withdraws. His team cringes with embarassment as his desparation becomes so obvious

"I am a much better debater than Romney or Santorum"

You know what Newt, it doesn't matter and isn't relevant. Calista is already plotting her escape I would bet. Afterall she was quite happy being part of the original open marriage? So why does Newt think she will remain if its closed and he's a Pensioner. She's still got it....for some.

And exit from the race brings all this into clear focus for Newt, So he's just looking the other way.

The lights are dimming and the grounds are getting thin, but he's just got to find another place to play

[myopinionpal]

I hope Newt don't drop out I want to see an all out brawl at the convention in August.

[FormerUSMCSergeant]

If Newt weren't devoid of scruples and a narcissistic ass, his slow torture would be painful to watch....

The killer blow was when Palin gave her approval - the kiss of death.

Ask O'Donnell, Miller and Angle......