It's been two months since Tim Pawlenty dropped out of the race for the GOP presidential nomination, but his campaign is still saddled with $450,000 in debt, reports Politico. Debts include $60,000 for campaign HQ rent in Iowa, $25,000 for equipment rentals, and more than $60,000 for printing and postage. “The campaign debt was unanticipated, but we have been doing what we can to address it," said a Pawlenty adviser.
Over the course of his campaign, Pawlenty raised $5.4 million, but poor results caused the money to dry up even as his expenses rose. From July 1 to Sept. 30, Pawlenty's campaign spent $3 million but raised just $1 million. After ending his candidacy, Pawlenty endorsed Mitt Romney, and Romney agreed to help with the debt. “You have to raise a lot of money to be successful," Pawlenty said on the radio last week, noting that when he dropped out, "our finances had basically run dry.”