Tim Pawlenty Retires Presidential Campaign Debt, Closes Committee

(Bill Clark/CQ Roll Call File Photo)

Ex-GOP presidential candidate and former Minnesota Gov. Tim Pawlenty has retired his campaign debt and filed papers to terminate his committee.

Although Pawlenty proved to be an adequate fundraiser, he limped out of the campaign with $435,000 in debt at the end of the third quarter. Much of those resources went toward Pawlenty's big bet on the Iowa Straw Poll in August. He came in a disappointing third place and dropped out of the race the next day.

Pawlenty endorsed Mitt Romney in September and has been an active surrogate for the presumptive GOP nominee. Romney has helped Pawlenty raise money to pay off the campaign's obligations, according to the Minneapolis Star Tribune.