A top GOP 2016 contender is living above his means, making risky moves with his BA

Discussion in 'Current Events' started by Agent_286, May 26, 2015.

  1. Agent_286

    Agent_286 New Member

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    A top GOP 2016 contender is 'living above his means' and making risky moves with his bank account

    by Maxwell Tani | timesunion.com | Published 8:07 pm, Sunday, May 24, 2015
    Excerpts:

    "A top contender for the Republican presidential nomination cashed out his retirement savings to pay some nagging bills for a broken refrigerator, air-conditioning unit, and his kids' private-school tuition. According to The Washington Post, Sen. Marco Rubio (R-Florida)sold $68,241 worth of retirement funds in September after bills began piling up at home."

    "It's a risky move since it incurs a significant tax penalty. "It means that he is probably on some level living above his means, because he is borrowing against his future," Boston University economist Laurence Kotlikoff told The Post. When asked about his finances on Fox News, Rubio blamed the high costs of running for president as well as expensive and unforeseen family costs."

    ......

    "My refrigerator broke down, Rubio said. "That was $3,000. I had to replace the air-conditioning unit in our home. My kids all go to school, and they are getting closer to college, and school's getting more expensive." Rubio's spending habits have drawn scrutiny since he was a member of the Florida state assembly. Three years later, during his run for Senate, Rubio was forced to defend his spending record after revelations that he put thousands of personal charges, including hair cuts, liquor store runs, and a $10,000 family vacation on campaign and Florida Republican party credit cards.

    Critics have also noted that, while Rubio rails against irresponsible federal spending, he has had trouble managing his own debt. The Senator only recently wrapped up his student loan payments, and is still in the red as he pays down several mortgages. As the Post reports, Rubio's purchase of one of those homes was probably a bad investment — the home was recently listed at $10,000 less than it was bought for in 2005. "Rubio campaigned on reining in government spending, but his own personal spending is out of control," Brannon Jordan of the Florida Democratic Party told Reuters in 2012. "He says one thing but is doing another."

    read more:
    http://www.timesunion.com/technolog...016-contender-is-living-above-his-6278576.php
    .......

    IMO: In a Congress where most lawmakers are millionaires, Marco Rubio apparently has not mastered the art of balancing his own budget...how do we expect him to have any conception of what a government budget means when his personal life is so up in the air, and you can't blame a new refrigerator, his kids school fees, and a new air conditioning unit for his dilemma. His troubles began when he bought a home in Tallahassee with his best friend David Rivera, who was also in politics. They were thick as thieves, literally.

    Most of us would get by nicely on $174,000 plus $52,000 from book royalties and his adjunct professorship at Florida International University; yes $226,000 would do nicely even with household repairs. Rubio was in financial trouble even when he was in the Florida legislature with his close friend Mr. Rivera who has a murky reputation for using state funds for personal use along with Marco Rubio who did the same thing.

    Now that Rubio is running for president, he is still loathe to give up his close friendship with his friend, but will have to answer many questions concerning that friendship and where it has taken both of them politically...one not being re-elected, fined many thousands of dollars, and now out of politics, and the other now running for president. That is a 'Mutt and Jeff' quinella that staggers the imagination.

    So what we have here is a poor, in debt, gorgeous republican guy, getting all his politics know-how from his BFF, who has been forced to pay fines for careless handling of campaign funds for personal use. One gets fined and then not re-elected and the other runs for president of the United States. Is that Democracy, or what?
     
  2. Nunya D.

    Nunya D. Well-Known Member

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    Why would he need a retirement savings when he is now eligible for a Congressional Pension?
     
  3. Lee S

    Lee S Moderator Staff Member Past Donor

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    Perhaps Marco Rubio can embrace the dark side and give half hour speeches for $500,000 a pop. No, that would be way too sleazy for America to accept in a presidential candidate.
     
  4. sec

    sec Well-Known Member

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    it's is quite amusing at this point in the campaign. The left media doesn't know who to attack within the GOP so they are attacking all of them.
     
  5. leekohler2

    leekohler2 New Member

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    I'm sorry, but since when is a refrigerator $3000? How is that even necessary?
     
  6. leekohler2

    leekohler2 New Member

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    As long as it's not taxpayer money, I don't care.
     
  7. Nunya D.

    Nunya D. Well-Known Member

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  8. leekohler2

    leekohler2 New Member

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  9. Nunya D.

    Nunya D. Well-Known Member

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    But you do care when someone spends "non-tax payer" money on a $3000 refrigerator?
     
  10. Lee S

    Lee S Moderator Staff Member Past Donor

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    Have you bought a refrigerator lately? Those things are expensive.

    http://www.bestbuy.com/site/refrige...004&nrp=15&cp=3&sp=-bestsellingsort skuidsaas

    They typically run from $1,900 to $3,500. And weren't you the one who was okay with doing a speech at a million dollars an hour as long as it isn't tax payer's money and now you are nitpicking about the cost of Marco Rubio's refrigerator? Where is the logical consistency in that?
     
  11. Habana

    Habana Well-Known Member

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    According to who, you? Since when are you the king of consumer purchasing and get to decide when someone is spending to much on a refrigerator?
     
  12. Nunya D.

    Nunya D. Well-Known Member

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    Maybe your standard of "unnecessary" may be a little different than other people's standards. Why do you care, it is his money.
     
  13. Lee S

    Lee S Moderator Staff Member Past Donor

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    I might be more concerned if he purchased a $300 refrigerator that wouldn't last a year. That would show a horrific lack of judgement.
     
  14. leekohler2

    leekohler2 New Member

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    Since they are complaining about not having enough money. That's since when.

    - - - Updated - - -

    What's wrong with something for $1500?

    - - - Updated - - -

    If he can't manage his own finances, why should we want him to manage ours? That's why I care.
     
  15. leekohler2

    leekohler2 New Member

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    Yep, not a big fan of the Clintons either.
     
  16. Habana

    Habana Well-Known Member

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    Really, it doesn't sound like Rubio was complaining about it. now if people took as much interest in what our government wasted money on then maybe this country wouldn't be $18 trillion in debt, maybe.
     
  17. Lee S

    Lee S Moderator Staff Member Past Donor

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    Since we just bought a new refrigerator, I can answer that based on personal experience. A $1,500 refrigerator has less rugged and less efficient motors and coolant compressors. Furthermore, a $1,500 refrigerator has less sophisticated microprocessors for regulating temperature, defrosting, and monitoring ice buildup on the condensor coils. This microprocessor regulation makes for a more efficient system which uses less energy, is easier on the mechanical components which ensures longer wear, and is more ecological in the long run. Furthermore, since the components are working with less stress, the warranty on the appliance is usually longer. The additional features associated with a more expensive refrigerator are designed to offset the initial costs in terms of energy usage, longer life, and less service costs for breakdowns.

    In other words, if you are thinking long term, the $1,500 refrigerator just doesn't make sense in terms of cost, energy usage, or the environment.
     
  18. HB Surfer

    HB Surfer Well-Known Member Past Donor

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    The Clintons were recently, "flat broke". Now look at them... they are worth Hundreds of Millions of dollars.

    Also, where did the $6 BILLION go that disappeared under Hillary's watch at the State Department?
     
  19. TrackerSam

    TrackerSam Well-Known Member Past Donor

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    Has Hildebeast pair all her bills from her last campaign? Yes, with a little help for Obummer. Imagine, Bill's doing speeches for 500K, and 4 years after the campaign, she was still in debt.

    Last week campaign disclosure reports revealed that Hillary Clinton had finally retired the debt from her 2008 presidential campaign—with a little help from the guy who beat her, Barack Obama. Clinton’s debt once totaled more than $20 million, although it had dwindled to about $250,000 by last year. That’s when a team of top Obama donors decided to surprise Clinton, and thank her for her loyal service, by raising enough money to pay off her bills. As secretary of state, she was forbidden from political fundraising.

    http://www.bloomberg.com/bw/articles/2013-01-28/obamas-parting-gift-to-hillary-clinton

    She wasn't forbidden from having her husband pay off the debt or raising money through 'the foundation'.

    Marco sold his stuff to pay off his debt................ooooooh what a crook.
     
  20. PeppermintTwist

    PeppermintTwist Well-Known Member Past Donor

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  21. leekohler2

    leekohler2 New Member

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    OK, I live in a rental, and I'm pretty sure I don't have even a $1500 refrigerator in it (more like $500). Been there going on 7 years now, and it's fine, never broken down. It wasn't new when I got there either. But hey, whatever you say. I guess it depends on what you mean by "long-term". Will a $3000 refrigerator last 30 years or more?

    - - - Updated - - -

    Of course they're not necessary. Not even close.
     
  22. Wake_Up

    Wake_Up New Member

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    Ahhh...the old "need" argument. Lol. My wife has learned not to bring up "need"...

    All you "need" is food, water and shelter. You can get all of that by living in a cave, and fishing and hunting...
     
  23. Lee S

    Lee S Moderator Staff Member Past Donor

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    Ummmm.... he managed his finances. He took money out of a retirement account that he does not need and moved it over to pay his financial obligations. He didn't default on anything. As far as we know, every bill was paid on time. I hope all politicians would know enough to move money from useless programs to real needs like Marco Rubio did.
     
  24. Wake_Up

    Wake_Up New Member

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  25. MolonLabe2009

    MolonLabe2009 Banned

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    So, let me get this straight.

    You are pissed because Rubio is spending his OWN money, but have no problems when people spend other people's money. Got it.
     

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