Struggles With Finances Track Marco Rubio’s Career

New York Times ^ | 06/08/2015 | By STEVE EDER and MICHAEL BARBARO

[SeekAndFind]

For years, Senator Marco Rubio struggled under the weight of student debt, mortgages and an extra loan against the value of his home totaling hundreds of thousands of dollars. But in 2012, financial salvation seemed to have arrived: A publisher paid him $800,000 to write a book about growing up as the son of Cuban immigrants.

In speeches, Mr. Rubio, a Florida Republican, spoke of his prudent plan for using the cash to finally pay off his law school loans, expressing relief that he no longer owed “a lady named Sallie Mae,” as he once called the lender.

But at the same time, he splurged on an extravagant purchase: $80,000 for a luxury speedboat, state records show. At the time, Mr. Rubio confided to a friend that it was a potentially inadvisable outlay that he could not resist. The 24-foot boat, he said, fulfilled a dream.

Among the serious contenders for the presidency, Mr. Rubio stands out for his youth, his meteoric political rise — and for the persistent doubts about his financial management, to the point that Mitt Romney’s presidential campaign flagged the issue when vetting Mr. Rubio as a possible running mate in 2012, interviews show.

Many of those troubles have played out in an unusually public way, leading even some of his supporters to worry. As he rose in politics, he sometimes intermingled personal and political money — using a state Republican Party credit card years ago to pay for a paving project at his home and for travel to a family reunion, and putting his relatives on campaign payrolls.

Other moves seemed simply unwise: A few weeks ago, he disclosed that he had liquidated a $68,000 retirement account, a move that is widely discouraged by financial experts and which probably cost him about $24,000 in taxes

[Lazamataz]

Struggles With Finances

That happens to be my Native American name.

[winner3000]

Hillary is so much better than Rubio: she doesn’t have to worry about finances anymore! She is set up for life!

The fact that she/her husband/the Clinton “Foundation” accepted ridiculously large donations from people not known to give $ with no strings attached while she was Secretary of State was just part of her prudent management style. In fact, the $100K she “made” in cattle futures now look like peanuts compared to one speech by Bill Clinton - and so much “cleaner” looking! \sarcasm off.

[Drew68]

If only Rubio had the foresight to build a slush fund, er, “charitable foundation” like the Clintons, his money problems would be over.

[Old Retired Army Guy]

First it was the Traffic Ticket issue. Now the youthful debt issue. The NYT is struggling very hard to smear Rubio anyway they can. I guess he must have them and the Clinton camp worried.

[Sooth2222]

If someone dropped $800,000 in my lap, I'd happily waste more than 10% of it on a frivolous purchase.

Didn't Hillary claim to be broke when she left the White House at the age of 53?

[Paulie]

I don’t see this as an issue. I know it’s not PC to say, but boys will be boys. He was young and decided to splurge a little. I’m sure dazzling the ladies had a lot to do with it as well.

Did he default on his debt? Did he declare bankruptcy? He made the $800K fairly and squarely by writing a book, like multitudes of people have. And wiped the slate clean.

Rubio’s questionable on serious matters, like amnesty for example. Leave the rest for the Enquirer.

[pepsionice]

Oddly, President Obama was paid $850,000 for his book....”Audacity of Hope”. Ask President Obama what he did with his $850,000.

[canuck_conservative]

First it was the Traffic Ticket issue. Now the youthful debt issue. The NYT is struggling very hard to smear Rubio anyway they can. I guess he must have them and the Clinton camp worried.

Yup, the same New York Slimes that can't be bothered looking back into how a broke, unemployed Barack Obama could afford (by his own admission) a daily coke-and-pot habit while he was in college. Nope, no curiosity there.

But a Republican had traffic tickets back then? Dispatch the teams of investigative reporters!!!

[SeekAndFind]

RE: First it was the Traffic Ticket issue. Now the youthful debt issue

This tells me one thing — RUBIO IS THE CANDIDATE THE LIBERALS FEAR MOST AT THIS TIME.

I don’t see them doing this number on Ted Cruz (yet).

[palmer]

No, both pieces are love taps. They are designed to innoculate Rubio from if/when the info came out later. Also makes the LSM look "fair" by attacking "conservatives".

I don't see them doing this number on Ted Cruz (yet).

True because they don't see him as a threat yet. But a traffic ticket-like story would only help Cruz at this point.

[gov_bean_ counter]

This is the way the Paulites roll as well...

[Lurkinanloomin]

This tells me one thing — RUBIO IS THE CANDIDATE THE LIBERALS FEAR MOST AT THIS TIME.

---

I think palmer is right.

It doesn’t matter to me that Rubio can’t handle his own money or that he got traffic tickets.

I’m never voting for anyone who will not up hold the rule of law and wants to give the country to fraudulently documented foreigners.

[Lurkinanloomin]

The Slimes loved him when he was scheming with Schumer and his Gang against the citizens. Guess his betrayal didn’t buy him as much love as he thought it would.

NO AMNESTY CANDIDATES!

[ilgipper]

Considering Hillary and Bill were broke just after securing multimillion dollar book deals seems to indicate a problem, NYT. Maybe an expose on that?

[Army Air Corps]

Yet, nary a peep about one Barack Hussein Obama and his checkered past.

[HoosierWordsmith]

They want Jeb!

[Mr. Jeeves]

Um, a "luxury speedboat" (like the ones the New York Times editorial staff bought with their under-the-table DNC paychecks) would cost more like eight million dollars.

[Theodore R.]

Cruz has stopped what small chance he may have had by signing onto “Obama-trade.”

[CSM]

Mitt Romney was too rich to identify with Americans. Marco Rubio is too poor to identify with Americans!