LE MARS, Iowa - Newt Gingrich's campaign spokesman said Wednesday that Gingrich will raise around $9 million in the fourth quarter of 2011, contradicting a report that the former House speaker's campaign is in deep financial trouble.
The spokesman, R.C. Hammond, addressed reporters after an ABC news report that mentioned Gingrich was out of money and would finish the year in the red. Hammond said the campaign would raise about what 2008 presidential nominee John McCain took in during the fourth quarter that year. When told McCain brought in $9.9 million that quarter, he said the Gingrich campaign's total was in that "ballpark."
Hammond also said the campaign's financial statement will reflect some existing debts, but will have a positive balance as well as cash on hand. During the third quarter, Gingrich raised more than $800,000 and spent nearly $777,000, and had $353,416 cash-on-hand funds.