In 2005 and 2006, 2012 GOP Presidential Candidate Newt Gingrich owed between $250,001 and$500,000 to the luxury jewelry store Tiffany & Co.
According to an article on Politico.com, the debt was exposed by financial disclosures filed with the Clerk of the House of Representatives.
Gingrich’s wife, “Callista Gingrich, was employed by the House Agriculture Committee until 2007, according to public records. She listed a ‘revolving charge account’ at Tiffany & Company in the liability section of her personal financial disclosure form for two consecutive years and indicated that it was her spouse’s debt,” the article read.
Sunday, on CBS’s
Face the Nation, Gingrich defended himself to Bob Schieffer, saying he is no longer in debt to the store, and that he is free to spend his money where he pleases.
“If the U.S. government were as debt-free as I am, everyone in America would be celebrating. I think I have proven I can manage money, as a small businessman — I run four small businesses. They have been profitable; they have employed people,” Gingrich told CBS.
“So as a private citizen who has done well, I think I’m allowed to pick and choose what I prefer doing.”