Gingrich campaign over $1 million in debt

Newt Gingrich's (R-Ga.) presidential campaign is more than $1.1 million in debt according to third-quarter filing reports.

The former House Speaker's campaign reported over $350,000 in cash with $1.19 million in outstanding debts.

While the campaign managed to raise over $800,000 during the third quarter, Gingrich's team spent over $776,000.

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The AP reported that the campaign's debt was the largest reported among top candidates with former Utah Gov. Jon Huntsman following with $890,000 in debt.

Gingrich's lackluster fundraising numbers and high debt raises questions about his ability to compete with the GOP's top tier. 

Texas Gov. Rick Perry topped the field, raising $17.2 million for the third-quarter, followed by former Massachusetts Gov. Mitt Romney with $14.2 million, Rep. Ron Paul (Texas) with $8.2 million and businessman Herman Cain with $2.6 million.

This story was updated at 10:18 a.m.