Free Markets, Free People
Gingrich fund raising for presidential bid not too rosy
I guess today is a bit of GOP potential candidate day. And the good news is:
Newt Gingrich raised a meager $53,000 into his political action committee in the first three months of the year, highlighting potential fundraising difficulties as the former House Speaker girds for a campaign for the GOP presidential nomination.
Not going to happen. And thankfully so. Not that I don’t think Gingrich is a good idea man – and that’s where his contribution should come from – but he’d be a sure loser presidential candidate. The man has more baggage than Delta Airlines. And within “family values” circles he’s a non-starter, or should be.
Most importantly, he simply hasn’t got what it takes to attract independent voters and he’d be a lightening rod in a presidential campaign taking much of the attention off of Obama, which, by the way, I think the Obama campaign would welcome for a change. Remember Obama has to run on an actual record this time – and it ain’t so hot.
Gingrich has a very powerful Political Action Committee, American Solutions, which is rolling in dough and gets huge contributions (back to that “ideas man” point I was making above). But that’s quite different than a presidential campaign fund:
But his presidential campaign would not be able to accept such large contributions and would instead be restricted to limited hard money donations of $2,500 per individual — half as much as the $5,000-per-individual maximum contributions that can be accepted each year by his leadership political action committee, American Solutions PAC.
The PAC brought in about $34,000 in March, according to a report filed Tuesday night with the FEC, bringing its total haul for the year to $53,000, and its total since being created in late 2009 to $790,000. That pales in comparison to the $13.7 million raised in 2010 alone by Gingrich’s 527, American Solutions for Winning the Future, which won’t have to report 2011 fundraising figures until July.
Perhaps the best poll of all may be the money poll. I know it is early and he hasn’t really formally put his hat in the ring (he’s doing “exploratory” work at the moment) but what he’s been able to take in thus far is not awe inspiring.
We may revisit this later, but at the moment, the money poll doesn’t look too promising for Newt Gingrich.