Newt Gingrich Faces Backlash for Lavish Credit Account at Tiffany's

Newt Gingrich is facing controversy over his comments on the government’s need to be frugal while news surfaced of his own $500,000 spending account at Tiffany’s. INSIDE EDITION reports.

Call it Bling-gate!

It's your first look at Newt Gingrich's blonde bombshell wife wearing the diamond necklace at the center of a political firestorm.

The former Speaker of the House, who's made his name saying government should be frugal, is under fire after it's been revealed he's had a credit account at, of all places, Tiffany & Company. Yes, that Tiffany's, as in Breakfast at Tiffany's.

Politico.com broke the story of Gingrich's charge account at Tiffany that had a whopping $500,000 limit.

Beth Frefking of policito.com told INSIDE EDITION, "It's been noted in several places, a lot of people don't spend that much on their house."

Gingrich's third wife, Callista, was recently seen in public dripping in diamonds. She wore a string of diamonds to the White House Correspondents' dinner in April, and it looks just like a necklace from Tiffany, which sells for $45,000.

Callista also wore a stunning pair of earrings to the Kennedy Center Honors in 2009. A match for the sunburst earrings is priced at $7,200.

Gingrich looked uncomfortable when Bob Schieffer questioned him on Face the Nation.

"What did you buy?" asked Schieffer.

"It's a personal, it's my private life," replied Gingrich.

The late night comics are having a field day with the story.

David Letterman said his show, "We have a clip from yesterday's Face the Nation, take a look." Then the camera cut to a picture that was Photoshopped to make it look like Gingrich was wearing jewels.

Conan O'Brien said on his show, "I don't think he handled the whole thing well. Take a look." Then the camera cut to a picture that was Photoshopped to make it look like Gingrich was wearing jewels as Conan said, "We're very frugal."

But what Bling-gate does to Gingrich's presidential hopes may be not be a laughing matter.

"I do think it is going to stick with him. I don't think it's going to go away," said Frerking.