T-Paw Still $450,000 in Debt

Andrew Krammer

Nearly two months have passed since Tim Pawlenty dropped out of the running for the GOP presidential bid, but he is still feeling the financial backlash.

As of Sept. 30, Pawlenty’s campaign reported a $453,842 debt with only $20,173 on hand to the Federal Election Commission.

In the final quarter of the fiscal year, which begins July 1 and ends Sept. 30, Pawlenty raised just under $1 million and spent almost $3 million.

A large part of his debts are anchored in Iowa, where he ended his campaign because of a disappointing third-place finish in the Ames straw poll in August.

He owes almost $60,000 in Iowa rent, another $25,000 in equipment rental and another $60,000-plus for printing and postage.

His Hollywood-esque political ad also left him with an extra $11,000 in debt owed to the director of the movie-trailer-style web advertisements.

Pawlenty endorsed current GOP candidate Mitt Romney last month, with the Massachusetts governor agreeing to help rid some of his debt.

This turned out to be a win-lose for T-Paw, as he was rejected from a Fox News position late last month because of his strong political affiliation with Romney.