Newt in the red

Newt Gingrich has more debt than cash on hand, according to the FEC report he will file today.

A Gingrich source notified Mike Allen that the former House speaker raised $2.62 million in February and spent $2.8 million. That left him with $1.54 million in the bank.

But Gingrich continues to carry $1.55 million in debt and the cash flow has evidently slowed. As Jonathan and Ginger reported this morning, there are already complaints in the extended Gingrich universe about unpaid bills.

(Also on POLITICO: Newt fires back at Robert De Niro)

Gingrich’s February fundraising total puts him at the back of the GOP pack, after Mitt Romney’s $11.5 million, Rick Santorum’s $9 million and Ron Paul’s $3.3 million.