Payday loans

Newt Gingrich reportedly owed up to $500,000 to Tiffany

05/17/2011 12:42 pm 0 comments

Source: Brian Montopoli / CBS News

Former House Speaker Newt Gingrich, who entered the 2012 presidential race just last Wednesday, is having an epically bad week. And it’s only Tuesday.

On Sunday, Gingrich angered conservatives by criticizing Rep. Paul Ryan’s budget plan and semi-supporting an individual mandate for health care. Now he is being stung by a report that he carried up to $500,000 in debt to the Tiffany jewelry company – and may still be carrying it.

Politico got the scoop by looking at financial records filed with the Clerk of the House of Representatives in 2005 and 2006. (CBS News has requested copies of the records, but has not yet seen them.) While Newt Gingrich has not been in the House since 1999, his wife, Callista Gingrich, worked for the House Agriculture Committee through 2007.

According to Politico, Callista Gingrich reported a “revolving charge account” at Tiffany and Company that she indicated was for the debt of her spouse. (A “revolving charge account” is a credit card.) She reported the debt to be in the range of $250,001 to $500,000.

To read this article in its entirety visit CBS News.

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