Back in the 1990's then-Speaker of the House Newt Gingrich was the face of conservative opposition to President Bill Clinton.
In 2012, he hopes to be the same against President Obama.
Even in the face of better known, younger candidates seeking the Republican nomination for president, Gingrich, 67, has raised more money than Romney and Palin--combined.
The majority of Gingrich's cash flow comes from a 527-group, American Solutions for Winning the Future, which is allowed to accept unlimited monetary donations, while Romney and Palin political action committees (PAC's) are forbidden from accepting corporate donations and cap individual donations at $5,000 per year. This year, the group raised $9.9 million, almost twice as much as Romney PAC's, which racked up $5.1 million, while dwarfing Tea-Party favorite Sarah Palin PAC, which raised $2.5 million this year.
While this may seem to bode well for the former Speaker: there's just one problem: money from American Solutions can't be used directly for Gingrich's presidential run.
It is legally barred from giving to Gingrich's 2012 campaign (if he decides to do so). The 527 group also can't donate money to other like-minded political candidates running in the midterms, some of which could offer Gingrich financial and political support after they are elected. In contrast, Gingrich's PAC has raised only a miniscule amount of money this year compared to big shots like Palin and Romney.
The question leading up to the 2012 elections will be if Gingrich is truly serious about his presidential ambitions, or if he is merely using American Solutions to advocate for certain pet causes. Gingrich may be the best choice for Republicans because of his extensive resume, as well as his nearly flawless delivery as a speaker. Still, his past could come back to haunt him, as details of infidelity during the Clinton impeachment proceedings have been uncovered.
JM
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