14 GOP Congressmen Say Personal Debt (Their Own) is OK, but not Government Debt

Sunday, March 17, 2013
Rep. Tom Rice

Members of the House Republican Caucus have been accused of hypocrisy by demanding that the federal government not borrow money while they themselves are millions of dollars in the hole.

 

At least 14 GOP lawmakers have argued that Washington should not spend more than it takes in while advocating for Representative Paul Ryan’s (R-Wisconsin) budget plan.

 

Josh Israel of ThinkProgress points out that these advocates include House Budget Committee Member Tom Rice (R-South Carolina), who has five mortgages totaling more than $4 million in debt.

 

Another Budget Committee member, Roger Williams (R-Texas), said, “Everybody in America has to balance their family’s budget or their business’ budget, not every ten years, not even every single year, but every single day.” Williams may balance his own debt every day, but he and his car dealership still owe $2.5 million of business loans and lines of credit.

 

House Republican Leader Eric Cantor (R-Virginia), who was quoted as saying: “Just as any family or business has to do, Washington needs to learn to live within its means,” has at least $1 million in debt from three mortgages.

-Noel Brinkerhoff, David Wallechinsky

 

To Learn More:

14 GOP Congressmen Who Think Government Shouldn’t Borrow Have Big Debts Of Their Own (by Josh Israel, ThinkProgress)

46 Members of Congress Owe Money on Student Loans (by Noel Brinkerhoff and David Wallechinsky, AllGov)

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