Friday, July 29, 2011

Pot, Meet Tea Kettle...


So, when it comes to keeping its "house" in order, apparently the radical right is not exactly the model of fiscal restraint that it insists the government should be. Tea Party Members of Congress are indebted, big time, and that's like the tea kettle calling the pot black.


This from CNN:
Washington (CNN) – They’re hard-charging, compromise-damning members of Congress, and they’ve changed the debate in Washington over the size and spending of the government. In recent days, Republican hard-liners in the debt ceiling talks have been vociferous in their rhetoric.
At a tea party rally, Sen. Mike Lee of Utah said his faction needs to push forward a balanced budget amendment and other measures “… in order to save our country from a Congress that for decades has been burying our children and our grandchildren, both born and unborn, under a mountain of debt.”
But according to recently released disclosure forms, Lee and others in his caucus have some significant personal debt of their own.
The documents — annual personal financial disclosure forms that were released in June — show that Lee had amassed at least $15,000 in credit card debt and had a $50,000 line of credit at a Utah bank as of late last year.
He’s not alone. Republican Rep. Tim Griffin of Arkansas had at least $15,000 of debt accumulated on an American Express card, according to the forms. Griffin, who won his seat with tea party support, has recently said Washington has “a spending addiction.”
Rep. Kevin Yoder, a freshman Republican from Kansas, said in a recent press release, “Washington needs to cut up the credit cards.” But Yoder’s own form shows he amassed at least $15,000 in what’s called a “revolving charge account” with Citigroup.
The forms are not exact. They do not reveal exact amounts of assets or liabilities. They only list ranges; for example, the form for Griffin shows his credit card debt to be between $15,000 and $50,000.
The disclosures, added to the recent language these congressmen have been using to stoke the debate in Washington, have drawn criticism from at least one watchdog group.
Ryan Alexander, president of the nonpartisan group Taxpayers for Common Sense, says, “It raises that question: How are you managing your personal debt? You're telling us how to manage our debt as a country, you're making ultimatums, and we don't know what you're doing with your personal debt. And they're holding credit card debt. Not every American does that. That's a choice that you made, to put that kind of debt on your own personal finances.”
And this well reported story re: Bachmann's finances:



Just a few weeks before Bachmann called for dismantling the programs during a House Financial Services Committee hearing, she and her husband signed for a $417,000 home loan to help finance their move to a 5,200-square-foot golf-course home, public records show. Experts who examined the loan documents for The Washington Post say they are confident that the loan was backed by Fannie Mae or Freddie Mac.
Seeing problems with the programs — especially the high costs to taxpayers — hasn't stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come through government backing.

No comments:

Post a Comment