Are GOP Donors Bailing on Newt?

Jon Ward at Huffington Post reports:

Newt Gingrich's catastrophic first week as an official Republican primary candidate may knock him out of the race before it even gets started. And if he stays in, fundraising will now be much more difficult, and that could hasten his exit, Republican sources said.

The former House Speaker from Georgia's once biggest advantage over other long shot candidates -- an established fundraising network -- is withering before his eyes.

"The last 48 hours have called into question if Newt can even make it to July 4, because his fundraising is going to dry up," said one veteran Republican strategist. "No serious finance bundler is now going to step forward in such an organized campaign and take a leadership role."

Another Republican operative said he had spoken with an old friend of Gingrich's in the South who had been planning a fundraiser for the campaign. There were 18 co-chairs for the event until Gingrich's appearance on "Meet the Press" Sunday, where he labeled Rep. Paul Ryan's (R-Wisc.) proposed budget "radical" and "right-wing social engineering."

"He said like 13 of them dropped off within 24 hours of 'Meet the Press,'" the GOP source told The Huffington Post.

The full impact on Gingrich’s fundraising will not be clear until mid-July, when second-quarter reports are due to be filed with the Federal Election Commission. A disappointing haul could be a knockout blow.

Gingrich aides declined to comment on their candidate’s ability to raise money going forward, and Gingrich’s finance chairwoman Gay Gaines did not respond to a request for comment. Gingrich’s advisers have said in the past that they hope to pull in $30 million for the primaries. Just last year, Gingrich’s 527 group, American Solutions, raised $28 million.