Business

Rick Santorum demanded 'fiscal responsibility' as a 2012 presidential candidate. Ten years later, his campaign committees still owe creditors nearly $1 million.

Mike Letterman

Apr 7, 2022, 7:59 PM
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INSIDER

Rick Santorum demanded 'fiscal responsibility' as a 2012 presidential candidate. Ten years later, his campaign committees still owe creditors nearly $1 million.

The 2012 and 2016 presidential campaigns of Rick Santorum are still in debt.
The committees owe a lot of money.
Newt Gingrich's 2012 campaign has more than $4.63 million in debt.

Rick Santorum, a conservative commentator, once demanded fiscal responsibility as a 2012 presidential candidate, arguing that America needs a leader prepared to make tough choices on spending.

The 2012 and 2016 presidential campaign committees owe a combined total of $1 million, according to quarterly financial filings submitted Thursday to the Federal Election Commission.

Financial disclosure from Rick Santorum's 2016 presidential campaign committee. — Financial disclosure from Rick Santorum's 2012 presidential campaign committee.Federal Election Commission

The 2012 and 2016 Santorum committees had a combined $3,516 in cash on hand at the end of March.

The 2016 campaign committee owes Santorum $317,130 and only paid him back $26,869 of the personal loans he made to the campaign. He has a loan interest of more than $47,000.

The campaign owes American Express over $40,000 for credit card bills.

The 2012 campaign owes consultants such as Brabender Cox a total of $366,060 for media consulting, production, and placement services.

Santorum couldn't be reached for comment.

Santorum criticized Democrats for their spending habits. He warned that there would be turmoil in the streets without spending cuts. Santorum said he would cut spending by $5 trillion in five years.

During that campaign, Santorum's voting record as a senator on raising the debt limit came under fire. During a debate, Ron Paul of Texas called him a big government and spending individual. CNN reported that Santorum voted six times for permanent increases in the debt limit while he was in the Senate.

Santorum, a long-time CNN commentator, parted ways with the network last year after he faced criticism for comments he made about Native Americans.

Santorum's two committees have less debt than Gingrich's 2012 committee has.

The Newt 2012 campaign committee has more than $4.7 million in debt according to a financial filing submitted to the FEC.

Gingrich owes more money to his debts than any other presidential campaign.

Gingrich and Santorum are not responsible for the debts of their presidential committees because of federal rules.

The original article is on Business Insider.

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