“Federal spending growth is out of control and shows no signs of slowing down,” Pence's campaign website said. “Our runaway spending spree is driving inflation, making us dependent on our adversaries, and threatening our national security. It is time for a Constitutional Amendment to tie the hands of profligate politicians in Washington once and for all.”
But is Pence himself poised to join an all-star team of former presidential candidates who’ve stiffed their campaign consultants and vendors?
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The former vice president’s campaign owes more than $1.36 million from his run for the Republican nomination, according to this month’s filing with the Federal Election Commission. Pence's committee doesn't have nearly enough cash on hand to pay those debts — less than $600,000.
Pence’s campaign, which fizzed in October amid the Republican primary season strength of former running mate Donald Trump, has debts that include:
- $452,173 to Homegrown Strategies of Oconomowoc, Wis., for text messaging and lists of voters
- $398,227 to The Lukens Company of Arlington, Va., for printing and postage
- $278,859 to HSP Direct of Ashburn, Va., for direct mail printing and consulting.
The campaign reported chipping away at the debt, with a $15,000 payment to Homegrown Strategies; $25,000 to The Lukens Company; and $25,000 to HSP Direct.
The campaign listed $2,500 for moving from its headquarters in Carmel, Ind., among the expenses it recently paid.
The Pence campaign’s treasurer, Michele Reisner, did not immediately respond to Raw Story’s questions about if, when, and how the debts would be repaid.
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Candidates have no legal responsibility or personal liability for these campaign debts when their campaigns spend beyond their means. But they can provide personal funds to their committees or raise money from donors to pay campaign creditors, who are otherwise often left to write off unpaid bills by defunct political campaign committees that hired them.
Pence did not go into politics as a wealthy man. As a congressional candidate in 1990, he once used political donations to pay his mortgage, personal credit card bill, and car payments. It was legal at the time, but it turned voters against him.
After serving as vice president, though, Pence became wealthy through speaking engagements and writing a book. In his federal personal financial disclosure, submitted last year after he declared his presidential run, Pence reported making more than $7 million since 2022.
The Pence campaign’s seven-figure debt still doesn’t come close to the debt of former Speaker of the House Newt Gingrich and his Newt 2012 presidential campaign. Gingrich remains the the king of campaign debt among former presidential candidates at $4.6 million, according to a filing this month with federal regulators.
Newt Gingrich's 2012 presidential committee still owes creditors more than $4.6 million, new federal records indicate. Drew Angerer/Getty Images
After some early success, Gingrich withdrew from the presidential race in May 2012 with a mountain of unpaid bills.
Newt 2012 isn’t making much progress on repaying the debt. Ten years ago, the campaign owed $4.7 million, according to FEC records.
Rick Santorum for President 2016 reported $531,296 in debt in its FEC filing this month. The former U.S. senator from Pennsylvania ran for the Republican presidential nomination again in 2016, dropping out early that year. Santorum's 2012 presidential campaign committee also owes creditors more than $452,000 as of this month.
Former U.S. Sen. Rick Santorum (R-PA) speaks during a news conference on health care September 13, 2017 on Capitol Hill in Washington, D.C. (Photo by Alex Wong/Getty Images)
Democrats have had presidential campaign debt trouble, too.
It took Hillary Clinton more than five years to pay off her presidential campaign debt incurred during her run in 2008. At one point, her campaign debt exceeded $20 million. But Clinton got fundraising help from President Barack Obama, and her campaign rented supporters’ personal information to third parties in a successful bid to settle her bills, according to the Center for Public Integrity.
Al Sharpton, the civil rights leader and MSNBC personality, isn’t so lucky.
Sharpton’s 2004 presidential campaign still owes creditors hundreds of thousands of dollars — including more than $21,000 to the U.S. Treasury. Sharpton’s old campaign stopped filing mandatory quarterly statements with the FEC last year, prompting a warning from the federal campaign finance regulator.
Al Sharpton (right) listens to Stacey Abrams (left) at the National Action Network's Women's Empowerment Luncheon on April 11, 2024, in New York City. (Photo by Johnny Nunez/WireImage)
The other end of the spectrum for failed presidential candidates is Nikki Haley, the last challenger to Donald Trump for this year’s Republican nomination before dropping out last month.
Haley reported $7.8 million of cash on hand, which can be used in a 2028 presidential bid.
She had no debt.
