Newt Gingrich Defends His Tiffany's Debt: 'It's A Normal Way Of Doing Business' (VIDEO)

[jefferson_dem]

Newt Gingrich Defends His Tiffany's Debt: 'It's A Normal Way Of Doing Business' (VIDEO)

WASHINGTON -- Republican presidential candidate Newt Gingrich defended the large debt he owed to the luxury jewelry store Tiffany & Co. in 2005 and 2006, saying he can spend his money as he pleases.

"We're private citizens," Gingrich said in an interview with Bob Schieffer on CBS's "Face the Nation" on Sunday. "I work very hard. We have a reasonably good income. I currently owe nothing except I owe one mortgage on a house that's a rental property in Wisconsin. Everything else is totally paid for. My home is paid for, my cars are paid for, we don't have a separate house. We don't do elaborate things."

Politico's Jake Sherman reported last week that financial disclosure forms filed with the U.S. House of Representatives show that in 2005 and 2006, Gingrich carried as much as $500,000 in debt on a "revolving charge account" with the jewelry store.

Gingrich's spokesman refused to comment when the news broke, but on Sunday, Gingrich said the debt was paid off "automatically" with "no interest."

"It's a normal way of doing business," he said in defense of what he called a "standard, low-interest account."

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http://www.huffingtonpost.com/2011/05/22/newt-gingrich-defends-tiffanys-debt_n_865231.html

[SpiralHawk]

1. "normal" for FatCat RepubliCronies who have their hands out ...maybe

Not normal for average citizens of the United States, not that Newtie and his Tiffany-splurging Republicon Cronies would know anything about that...

[PatSeg]

3. Yep, goes to show how clueless he is

He honestly doesn't see why a $500,000 debt at Tiffanys puts him out of touch with the average person. He truly is living in his own little world.

[lunatica]

2. If the debt was paid in 2006 what's the issue?

There's plenty to criticize about Newt without this no-longer-existing-debt. He's still a pig.

[cyndensco]

6. I never did get the outrage over his Tiffany's line of credit.

If it had been or was delinquent, that would be another story.

And as far as newt being out of touch with most Americans, aren't most politicians?

I consider this a non-issue.

[bhikkhu]

7. A $500,000 debt to a jewelry store is normal?

That's just the sort of insane thing that makes one wonder - what planet is this guy living on?

[HipChick]

4. Three engagement and wedding rings can be very costly...

When you look like him..

[Botany]

5. Newt, "We don't do elaborate things."

Yes we have 1/2 a million in debt to Tiffany's.

[Enrique]

8. shouldn't he be creating jobs?

i thought that's what rich people do with their excess money.

[Ikonoklast]

9. There's a whole room full of diamond cutters that thank Newt every day

for their jobs, so there is that.

[alcibiades_mystery]

10. I have a $500,000 revolving credit line with both my Rolls Royce dealer

and my private jet seating upholstery outfit.

I mean, who doesn't?

[Lindsey]

11. I'm glad Schaffer really let him have it. No- this is NOT the way

most folks live by have $500,000 revolving debt at a jewelry store and I don't care when it was! For people who are actually taking up for this idiot (it happened a long time ago, yadda,yadda,yadda) does it not show that he's truly living on another planet just in terms of mind set?!?!?!?!?!?!?

[Ramulux]

12. "We dont do elaborate things"

Wow, tell that to the person making 30 grand a year who cant feed his family.

[RightNoMore]

13. How much you want to make a bet

this account was used to buy jewelery for a mistress?