1. Broke

    Newt Campaign $1 Million in Debt

    Republican presidential hopeful, former House Speaker Newt Gingrich speaks at the Republican Leadership Conference in New Orleans, June 16, 2011.

    Bill Haber / AP Photo

    Given the 2012 presidential candidate’s penchant for excessive spending, this shouldn’t come as too much of a shock: Newt Gingrich’s presidential campaign is $1 million in debt, according to a report to be filed Friday with the Federal Election Commission. After announcing his run in May, Gingrich reportedly raised just $2.1 million during the last three months and managed to spend a whopping $1.8 million. By the end of June, after most of his senior advisers had jumped ship, he had only $322,000 in the bank. Though the only stragglers left are essentially volunteers and paid advisers, the Republican candidate is still forging on—he spent Friday campaigning in Iowa.

    Read it at Associated Press