After Primary Losses, Legacies of Debt and Strained Reputations

By KATHARINE Q. SEELYE, NYT

When the Republican primary season began last year, some of the candidates seemed like such long shots that they could have been running simply to enhance their résumés. After all, the exposure through nationally televised debates could increase name recognition, pave the way to lucrative speaking fees and book advances or help with a re-election bid.

But as Mitt Romney has emerged as the party’s presumptive nominee, most of his erstwhile rivals have ended up in debt. And rather than leave the race with their political reputations burnished, some have left with their reputations diminished.

Newt Gingrich, the former speaker of the House who dropped out of the race on Wednesday, is a stark example of how the dream of being president — or at least a candidate with benefits — can be dashed.

He began the race as a self-described historian, with the clout to pull in millions in consulting fees. But as he dragged out his campaign after winning only two states, he was scorned by many in his own party. He had criticized Mr. Romney so pointedly (“Are you calling Mitt Romney a liar?” “Yes.”) that the Obama campaign has produced an entire Gingrich-based anti-Romney video that could make any eventual Gingrich endorsement of Mr. Romney look like a joke. As of last month, Mr. Gingrich had a campaign debt of $4.3 million. And his consulting company has filed for bankruptcy, a casualty of Mr. Gingrich’s absence while he ran for president.

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