Thursday, October 11, 2012

Masters of Your Money

Do you ever wonder how Washington lawmakers can sleep at night knowing they have put the country $14-TRILLION in debt?  You might want to check out the latest Washington Post report on the wealth of Congressional members.

Wisconsin's delegation is actually doing pretty well.  Congressman Tom Petri is 25th richest in Washington--with a net wealth of $28-million--and Senator Herb Kohl is at number 6--with a net wealth of $174-million.  The top of the list is very non-partisan (there goes that theory about the Evil Rich all being Republican).  Nancy (Quit Your Job To Become A Musician--Taxpayers Will Cover Your Health Care) Pelosi and John (Pass The Ketchup Dear) Kerry are in the top ten for riches.

But what is most telling is what is going on at the bottom of the list.  More than 20-members of Congress have a NEGATIVE net worth--meaning they owe more than they own.  Wisconsin is represented in this list as well--as Republican Congressman Sean Duffy is 6th poorest in Washington, with a net wealth of NEGATIVE $167-thousand (so much for that theory about all Republicans being Evil Rich Guys).  Democratic Party Chairperson Debbie Wasserman-Schultz is among those in the red (maybe that's why she was such a perfect spokesperson for the current economic 'plan').  Texas Democrat Ruben Hinojosa even declared bankruptcy while serving in Congress. 

And at the bottom of the list is Florida Democrat Alcee Hastings--whose net worth is NEGATIVE $4-MILLION!  In the WaPo article Hastings shows his business acumen by saying "I wish I could hit the lottery so I could pay them all."  If I was living in Hastings' district, I would rather hear my lawmaker says "I should probably get to work and pay off my debts--since being a Congressman obviously doesn't allow me to do that."

So, if those we send to Washington can't get their financial act together at home--why would we expect them to keep the nation's finances in order when they get in the Capitol?

And be sure to check out the accompanying stories to this article about how Congresspeople benefit financially from the laws they pass--very eye-opening as well.

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