Following a mass resignation of top staffers barely two weeks ago, the Newt Gingrich finance team quit, putting his 2012 presidential campaign in further jeopardy. Sixteen Gingrich staffers, the ′hucksters′, quit amid charges that Newt was not serious and that his wife, Callista, was running the campaign. Stories about her spending large sums at Tiffany′s jewelers are not going away either, as the Washington Post has a new article about a second line of credit for $1 Million dollars. Shortly after launching his 2012 presidential run, Newt Gingrich took a week off for a Greek vacation with his wife.

newt gingrich finance team quits

So is the 68-year old former House Speaker toast? Many analysts agree that Gingrich is going nowhere fast. His campaign began with a major stumble over criticism of the Paul Ryan 2012 budget plan for reducing federal spending and budget deficits. His debate appearance last week in New Hampshire was not very inspiring either, often sounding more professorial than even Barack Obama.

So why has the Newt Gingrich finance team quit? Fund raising has been lack luster, mainly due to the 2012 presidential candidates own stumbling. Newt′s campaign is said to be some $1 Million dollars in the red currently, as hefty travel expenses pile up. Gingrich carries a lot of old baggage with him, including two divorces and making a commercial with Nancy Pelosi supporting the premise of man-made climate change. He is seen as one who supports the Cap and Trade carbon tax scheme, a job-killing bill passed by the Democrat-controlled House in 2009. Between his affairs and scandals, Newt Gingrich has little support for being president, usually polling in the single digits. It would appear that only a miracle could aid the Newt Gingrich 2012 presidential campaign at this point. After 16 top staffers resigned less than 2 weeks ago, most analysts believe he will be forced out of the race before the end of July, if not sooner.