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

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.