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?