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Updated 8 p.m. ET: NEW YORK -- Jon Huntsman's failed presidential campaign burned through his final few dollars in January before he dropped out of the race, leaving him with debt and IOUs to vendors.
In its January report released to the Federal Election Commission last night, the campaign showed that Huntsman ended his White House bid more than $5 million in debt -- with only $670.17 of cash on hand at the end of January. Huntsman exited the race on Jan. 16 after failing to gain traction following a third-place finish in New Hampshire.
In his final sprint to the New Hampshire and South Carolina primaries, Huntsman received $400,000 in largely individual contributions. He also loaned himself $50,000 in personal cash on Jan. 4, less than week before the New Hampshire primary. However, it wasn't enough. The Huntsman campaign spent about $560,000 in January.
The former Utah governor-turned-Ford executive board member owes a lot of people money. Most notably he owes Strategic Perceptions -- a media strategy group spearheaded by his campaign's former media adviser Fred Davis -- $355,000.
Many individuals still await paychecks from Huntsman, according to the FEC report.
Landon Parvin, a Republican speechwriter, is owed $27,500. Huntsman's New Hampshire state director, Sarah Crawford Stewart, is expecting $10,000. And about $8,000 is due to three of his top staffers:
-- national spokesman Tim Miller,
-- campaign manager Matt David
-- and advance man Conyers Davis.
Huntsman also owes senior strategist John Weaver's consulting firm TF/Weaver Strategies LLC more than $40,000.
Although Huntsman focused entirely on New Hampshire in the final stages of his campaign, he owes his senior South Carolina advisers Richard Quinn & Associates $55,806 in payments, after initially launching a three-state strategy that also included Florida. Other major debts include Grandslam Finance $241,500, law firm Arent Fox LLP $244,000, polling and consulting firm Ayres McHenry $99,000, Evolve Social Media $164,000, the Ingram Group $110,000 and Pacific Fundraising $81,000. He also owes several young campaign field staffers hundreds of dollars.
Huntsman's former campaign manager Matt David said that the former ambassador to China will repay his debt "aggressively."
"Governor Huntsman will be repaying his debt quickly," David told NBC News. "It's going to be a combination between fundraising and personal funds. We haven't really started the fundraising yet but we have already been moving aggressively on other fronts. Since the end of January and the FEC reporting period, we have paid all of the staff and many of the consultants."
Huntsman will conduct the fundraising via email solicitations and events in the coming weeks that are likely to remind voters that he has backed Mitt Romney. Huntsman has long been considered by many in the Republican party as an ideal secretary of state and a viable candidate for other cabinet level positions.
Following a vacation with his family and time away from the campaign trail, Huntsman has returned to Washington. He now serves on the board of Ford Motor Co. and Huntsman Corp. He also serves as the chairman of the Huntsman Cancer Foundation, established by his father, Jon Huntsman Sr., who contributed millions to fund his son's campaign efforts.
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Dang, You beat me to it!
So after all of this time since the end of his campaign he still owes 5 million bucks. That means lots of people are going to be stiffed I suppose, and life for this republican goes on as usual. Can't Daddy cough up a few million more? If Huntsman doesn't make good now his chances for 2016 are slim and none. Heck, the only folks rooting for him were Democrats hoping for a sane GOP candidate.
It really is unfortunate that a truly good person (and one of the few sane ones) ends up with a large amount of debt while the likes of Newt Gingrich has benefactors writing $5,000,000 checks supporting him. Ah, well, to each his own, I guess.
Jon Huntsman is an honest man and I have no doubt that he will not stiff anyone. More likely than not, he will hold a few fundraisers and retire the debts before the summer is over.
He is much to nice of a person to be a Republican,,,maybe that was his problem.
He took a vacation while still owing hundreds of dollars to young staffers....that's the Republican mentality right there, and a good lesson for those young people: the Republican way is "me first."
You're right Amy - run up tab and let someone else figure out how to pay for ir. But dang it - gotta get those tax cuts for those who don't need 'em.
Of all the GOP candidates, he seemed like the only one who wasn't crazy.
Like many here I thought he was the smartest Republican candidate with a lot of class. Too bad the GOP didn't see it.
Mormons stick together. He can either ask Mitt or Marriott. Daddy's got a lot of money too. Just not feeling bad for Huntsman especially since deficits are a major no-no in the GOP. Maybe he can borrow from China like GWB did.
Who's your daddy, Jon? Maybe the daddy has an aversion to a loser! Jon, now you know you were too rational for the GOPhers. Should have tested out your viability before going in the hole for $5 million.
Hey you have got to give him some credit....atleast its not 5 billion. 5 million is a drop in the bucket for him. Unlike our debt 15+ trillion and we are waiting for the bucket to drop ON our heads!!
That onedebats is irrelevant-itis what yousay in thedebates thatisthe important point.For eample Rick Perry was asked by MittromneyhowPerry's plan to give social security to the state's would work. He asked what happens when some one moved from one stsate to another. And Perry couldn' t answer. Thiswas a perfectly obvious question-and Perry was unpreparded forit.
Here are somequestion I would liketo ask at Wednesday's debate:
Given the increasing pressure on Iran because new sanctions imposed and Iran's new embargo on oil exports to Europe,howhoighareyouprepared to let oil prices go to enforce the sactions? At what point would yousay the costsout wheigh the benfits of the sanctions? How high will you permit unemplyment to go to enforce sanctions onIran if you areelected?
Mr romney, you hav esaid that you would let the housing market reach rock botton before you would help. At the same time you criticzed Presient Obama for not growing the economy faster calling it "fantasy land economics. ' Youcan't have it both ways-whichis more portant-hitting rock bottom, or growing the economy faster. It can'tbe both.
Mr Santorum-you said Presient Obama has a "phony theology". Do you say Mormonism is also a "phony theology" because the don't embrace Jesus Christ? And what about the Consitutional provision that there shall be noreligious test for public office. Aren't you breaking that by raising this issue?
All of you have said the national debt is too high-one of the great driver of that debtis the continuance of the bush tax cuts. Would yousupport raising the national debt to $24 Trillionas envisioned bythe ryan budget?
I like Huntsman and it's too bad he never got more traction-- especially when you look at some of the nutters who are still in the race. I think in the end he is simply much too reasonable and intelligent to pander to the voters in the primary. I always got the sense that he held part of the far-right primary voters in contempt-- which is probably why he never did better than third.
I like the part about Huntsman owing hundreds of dollars to young staffers--that sounds like something the embed was reminded to include when hanging out after the day's events.
The money owed was as of the date of the filing. I wonder if there will be a follow up to find out if the staffers and some of the smaller debt holders have been paid.
I liked Huntsman. Even though I am a Democrat and would not have voted for him, if the only choices to vote for had been the 4 remaining Republicans and Huntsman, I would have cast my vote for him. I consider him to be a very smart and genuine person. I think President Obama realizes that Huntsman could have caused him some serious problems in a run for the White House. If the Republican Party opens it's eyes, we will see Huntsman in 2016. He is the smartest of all the Republicans running. His one problem with Republicans is that he is a straight shooter. He doesn't go out making out of this world accusations and claims of what he will do if elected and they cannot handle a candidate that tells the truth.