'Fiscal responsibility' candidate Rick Santorum has nearly $500K in campaign debt from 2012 presidential run

Rick Santorum, the former Republican Senator who ran for president in 2012 on a line of fiscal and social conservatism, still has nearly $500,000 in campaign debt, documents released Tuesday show.

According to the Federal Election Commission, Santorum's campaign committee, Rick Santorum for President Inc., owes $450,309.74 and has only $376.01 in its coffers. Under federal election law, Santorum isn't personally liable for the debt as his campaign is a distinct legal entity with its own separate finances.

Santorum's campaign for president emphasized fiscal responsibility. In an archived version of his presidential campaign website from 2012, Santorum attacked then-President Barack Obama's budget proposal, saying, "The American people have spoken loudly for the past three years, demanding fiscal responsibility from our leaders and President Obama is either deaf or simply won't listen.

"America needs to lead, and America needs a leader prepared to make those tough choices. I am committed to balancing our budget and cutting $5 trillion in spending in five years."

Santorum also ran for president in 2016 in a crowded field of candidates that ultimately lost out to Donald Trump. A separate FEC disclosure detailing that campaign committee, Santorum for President 2016, during the reporting period from October to December 2022 shows $531,296.72 of debt, with $1,412.99 on hand.

Santorum, who in later years worked as a cable pundit for CNN and frequently defended Trump, is not the only budget-focused Republican presidential candidate with long-standing campaign debt. In 2021, reports revealed that the campaign for Newt Gingrich, who also ran in 2012, still owed $4.6 million.