The New York Times reports that while the senator was juggling multiple loans and mortgages, he bought a speedboat, a luxury SUV, and made questionable investment decisions.
Rubio has a history of accruing massive debts and then spending big when money comes his way.
According to The Times, Rubio faced huge debts in 2012. Then a miracle appeared: He got an $800,000 advance on a book deal. But instead of using all of the money responsibly, Rubio went out and bought a $80,000 speedboat.
The Times notes that despite the senator's financial woes, Rubio also leased a $50,000 Audi Q7 SUV...
...Rubio's troubling spending habits are well known within Republican political circles. According to The Times, when former Massachusetts Gov. Mitt Romney's team vetted Rubio as a potential vice presidential candidate, they found that the Florida senator's financial decisions were bad enough that they could damage the campaign...
This is something, by the way, that's raised a red flag as far back as 2006 (dear God, where do the years of political headdesking get to?) as this 2010 article from the
...On the campaign trail, Rubio likes to say "politicians don't create jobs." But politics, directly and indirectly, has generated Rubio's sizeable income, even as he has accumulated substantial debt and saw one of his homes nearly go into foreclosure...
...When Rubio joined the Florida House of Representatives in 2000, he did not own a home, had few possessions and made $72,000 as a lawyer.
But he had $30,000 in "assorted credit and retail debt" (as described on his financial disclosure form) and in 2001 listed $165,000 in loans from the University of Florida and University of Miami Law School.
As Rubio climbed the ranks, he began to use little-noticed political committees to fund his travel and other expenses and later had a Republican Party of Florida credit card.
What emerged, records show, is a pattern of blending personal and political spending. Over and over again Rubio proved sloppy, at best, in complying with disclosure requirements...
I've written before about the Florida Republicans - and it's looking like Republicans in general - have these bad personal AND political habits of spending like drunken teenagers in possession of their parents' credit cards. Rubio's name came up often during these reports from 2010 and onward, and now that's he running for the Presidency the national media outlets are starting to dig into his past.
It's troubling how a politician from a party that hypes itself as fiscally responsible is himself a debt-riding hypocrite. It's troubling because it's been made clear how Rubio plans on clearing that debt: using other's people money. Feeding off deep-pocket sugar daddies whose money he can use to keep living the high life despite the weak regulations in place. This is a man who received an $800,000 book advance and still went out and wasted the money on personal indulgences instead of taking care of his debts.
How the hell can we trust this man - trust anyone from the Republican ranks who view these political campaigns as money-making schemes - with our nation's economy?