Green Room

Surprise: Debbie Wasserman Schultz saddled with major credit card debt

posted at 11:34 am on September 25, 2013 by

A small irony, courtesy of America’s “we don’t have a spending problem!” party chairwoman:

Debbie Wasserman Schultz: -$1.04 million

The chairwoman of the Democratic National Committee, Wasserman Schultz has spent most of her career in political office, starting as a state legislator in her home state of Florida. She has two mortgages with a combined worth of at least $750,000, plus $350,000 in home equity and personal loans. She also carried more than $50,000 in credit card debt in 2012. Her assets include a spouse-held $100,000 stock in the community bank where her husband works and several small bank accounts including college savings plans for her children.

Whatever.  She can just deny her way out of it, right?  According to CNN Money, the average American household carried nearly $16,000 in credit card debt last year — so DWS has the Average Joe beat by a sizable margin.  This data nugget was mined by Roll Call, as part of its feature on, er, the “poorest members of Congress.”  Here’s one other entry on the list:

Alcee L. Hastings: -$2.23 million

A lawyer and former federal judge, Hastings is still paying off legal fees of more than $2 million that he incurred in a trial on charges of bribery while he was serving on a U.S. district court. The Florida Democrat was acquitted of the charges in 1983, but a federal panel later concluded he had lied and fabricated evidence. By 1989, he was removed from the court after votes by the House and Senate.

Being an impeached, disgraced judge can be pretty costly.  Incredibly, the people of Hastings’ district have seen fit to reward his corruption with a ticket to Congress every two years since 1993.

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BAILOUT!

Chuck Schick on September 25, 2013 at 11:48 AM

Hmmm. Well, I suppose I’d rather see them in a bit of debt, rather than the likes of most members of Congress, who manage to retire far wealthier than they were when they were sworn in.

Hill60 on September 25, 2013 at 12:01 PM

anyone shocked????

Bueller??

t on September 25, 2013 at 12:01 PM

$50k in credit card debt?

Her husband is a banker? Do we see any irony here? Doesn’t he dare to “council” her on borrowing?

FOWG1 on September 25, 2013 at 12:20 PM

Poor Debbie Was-a-man Schwantz.

2lbsTest on September 25, 2013 at 12:30 PM

Florida has some strange notions of representatives.

DanMan on September 25, 2013 at 12:30 PM

My god, who are these people? I’ve never carried more than 6k of combined CC debt which I swiftly paid off at the expense of having nice things. I thought that was irresponsible.

jawkneemusic on September 25, 2013 at 12:32 PM

The cost of gerrymandering…

d1carter on September 25, 2013 at 12:34 PM

I blame the sequester.

mankai on September 25, 2013 at 12:39 PM

Hell … what about the mega-rich in both Congress & Senate and examine how they became so ‘upper crust’.
Barbara Boxer – what is her (and her husband’s) net increase in wealth during her stay in the House? 10,000X?
Diane Feinstein – She is approaching BILLIONAIRE status after her short stint as the post-assassination Mayor of San Francisco.
Charlie Rangle? Another mega-millionaire … how is this happening?
Al Sharpton? Je$$ie “Hymetown” Jack$on?
Killery? Between she and Billy Bly, why they must be approaching the $300 million mark. And the TAXPAYERS built them a NEW Guest House which they turn-around and RENT to the Secret Service detail that protects them. Outrageous?
ALGORE? Without question the stupidest mega-millionaire to have ever walked the planet.
I’m curious – How is this done?
How is it that the Gimmedats escape ANY SCRUTINITY from the media?

Missilengr on September 25, 2013 at 12:40 PM

Let me get this straight. She’s a millionaire and somehow still manages to owe people money??

CurtZHP on September 25, 2013 at 12:44 PM

Poor Debbie Was-a-man Schwantz.

2lbsTest on September 25, 2013 at 12:30 PM

Poor ‘spouse‘. I guess we shouldn’t go there but that poor soul probably has little choice in the matter.

Tsar of Earth on September 25, 2013 at 12:46 PM

I could have gone the rest of my life without experiencing the dread and disgust at the stomach churning knowledge that Debbie Dumb Ass has spawned.

OrbeaRider66 on September 25, 2013 at 12:47 PM

her home state of Florida.

Nope.

Lanceman on September 25, 2013 at 12:47 PM

According to CNN Money, the average American household carried nearly $16,000 in credit card debt last year

I’m getting close to that – but it’s nearly all investment spending – steel, lead and brass.

dentarthurdent on September 25, 2013 at 1:02 PM

credit card debt is the easiest to get rid of in a bancruptcy filing.

if your going to have debt and plan to get bankrupted at some point credit card is the way to go.

gerrym51 on September 25, 2013 at 1:04 PM

if your going to have debt and plan to get bankrupted at some point credit card is the way to go.

gerrym51 on September 25, 2013 at 1:04 PM

I figure if the SHTF and the country goes bankrupt and falls into anarchy, debt becomes completely irrelevant and I can live off my “investments” (see above post).

And when I say the SHTF, it refers to the “zombie apocalypse” that lots of people are talking about, which I see as very possible in the real world – but where “zombie” is an overarching term might refer to some combination of Muslims, welfare scum, crack-heads, gang-bangers, etc….

dentarthurdent on September 25, 2013 at 1:12 PM

Raising your credit line does not increase your debt!

BobMbx on September 25, 2013 at 1:18 PM

Debbie Downer is underwater on her asset to debt ratio? Hilarious for a person with the name Wasserman to live up to, which she cannot.

ExpressoBold on September 25, 2013 at 1:24 PM

Debbie Wasserman Schultz: -$1.04 million

Alcee L. Hastings: -$2.23 million

Questions: Who’s lending them the money? At what interest rate? And in return for what?

CiLH1 on September 25, 2013 at 1:29 PM

If she has to cut back I’d stop the hairdresser appointments first.

DaveDief on September 25, 2013 at 1:30 PM

Your math adds a new dimension to your usual pedantry.
 
urban elitist on August 7, 2013 at 9:31 PM

rogerb on September 25, 2013 at 1:52 PM

It’s not that she’s honest. She’s just too dumb to figure out how to loot.

Ted Torgerson on September 25, 2013 at 1:53 PM

Let me get this straight. She’s a millionaire and somehow still manages to owe people money??

CurtZHP on September 25, 2013 at 12:44 PM

No, she’s not a millionaire. Her net worth is negative 1.04 million dollars. She’d have to get a million dollars just to be broke.

Ted Torgerson on September 25, 2013 at 1:55 PM

If she has to cut back I’d stop the hairdresser appointments first.

DaveDief on September 25, 2013 at 1:30 PM

LOL!!
Ya – she’s obviously wasting money there….

dentarthurdent on September 25, 2013 at 2:06 PM

She’s Lil Debtie.

Flange on September 25, 2013 at 2:18 PM

Pelosi, Feinstein, and Boxer could teach Debbie a thing or two about how the government works!

All three have ammassed major family fortunes by directing government cash directly into their family coffers.

Freddy on September 25, 2013 at 2:22 PM

Let me get this straight. She’s a millionaire and somehow still manages to owe people money??

CurtZHP on September 25, 2013 at 12:44 PM

Well Obama has rung up $7 trillion more in debt. He is the example that the socialists follow.

redguy on September 25, 2013 at 2:54 PM

No worries, Costco has 5-gallon jars of her favorite Hellman’s and Best Foods hair products, which will save her a bundle.

Christien on September 25, 2013 at 3:11 PM

No, she’s not a millionaire. Her net worth is negative 1.04 million dollars. She’d have to get a million dollars just to be broke.

Ted Torgerson on September 25, 2013 at 1:55 PM

Ah, I must have read that wrong.

CurtZHP on September 25, 2013 at 3:22 PM

I would have thought that any love child of Howdy Doody’s would have done better for herself.

trigon on September 25, 2013 at 3:52 PM

“Surprise: Debbie Wasserman Schultz saddled with major credit card debt..”

..so then, anyone wanna ride this nag?

The War Planner on September 25, 2013 at 4:22 PM

Being an impeached, disgraced judge can be pretty costly. Incredibly, the people of Hastings’ district have seen fit to reward his corruption with a ticket to Congress every two years since 1993.

HEY! He may be a CROOK, but he’s OUR crook!

The same can be said of Adam Clayton Powell in the 60′s and the crook guy who unseated him, Charlie Rangel.

GarandFan on September 25, 2013 at 5:09 PM

No wonder she is such a b-itch. That kind of debt is impossible to comprehend. It’s almost as much as the national debt that Democraps have foisted on us in terms of percentage. Democraps are terrible money managers as Obama had this kind of debt until after he was elected president. Then, magically, it all disappeared. Maybe Lil Debbie should talk to Obama to see how he did it.

BetseyRoss on September 25, 2013 at 5:40 PM

This is gold…

dpduq on September 25, 2013 at 5:40 PM

Poor Debbie should go for financial advice to the Queen of Government Money Making Schemes: Senator Dianne Feinstein.

After years of steering billions of dollars of defense related contracts to firms where her husband was a principal shareholder and/or senior manager, Dianne hit the jackpot recently when CBRE – a firm where her husband is Chairman and a major shareholder – was handed the exclusive contract to receive commissions for selling off all “surplus” post offices and buildings nationwide. It is reported to be $85B of assets.

Lucky him…

http://www.truth-out.org/news/item/19042-senator-diane-feinsteins-husband-selling-post-offices-to-cronies-on-the-cheap

in_awe on September 25, 2013 at 5:45 PM

I wonder if the debt to income ration is different between conservatives and liberals?

esnap on September 25, 2013 at 7:25 PM

For anyone else, those numbers would mean bankruptcy. There’s no way she can support that level of debt on a Congressional salary.

Must be nice to be in the elite class.

EdmundBurke247 on September 25, 2013 at 7:33 PM

She doesn’t care. She’s just racking up the debt. She knows whenever she decides to quit, se can go to work as a lobbyist and pay it off in the first year.
Debbie “What, me worry?” Wasserman.

Allahs vulva on September 25, 2013 at 8:27 PM

She learned accounting from her father, Larry Wasserman, a Long Island CPA–called Retrograde Financing. Retrograde Financing is a theory practiced (and some say invented) by the Oracle on the Hill, Joe Biden)whose major tenet is the “best way to get out of debt is to spend more money.”

Unfortunately Retrograde Financing is not only philosophically faulty but highly addictive. How about a tax increase to help the nice lady out?

MaiDee on September 25, 2013 at 8:42 PM

..what does debt matter?

KOOLAID2 on September 25, 2013 at 9:43 PM

Other people’s money. Deb’s got it down tight.

HiJack on September 25, 2013 at 10:26 PM

I am sure she can tax herself to pay it off. That’s how liberal finance works, right?

virgo on September 26, 2013 at 1:39 AM

Come on…she’s a democrat and in the DC cocktail jet set. This is meaningless

jaywemm on September 26, 2013 at 4:39 AM

The Roll Call calculations are somewhat misleading. Members of Congress are required to report their home mortgages as liabilities, but they’re not required to report their personal residence (and second homes, if any) as assets. So the value of the house doesn’t get factored into these calculations.

Debbie Downer has mortgages on a Florida home as well as another home in New Hampshire — therefore, she probably still owns those homes. If the two houses together are worth even $400,000 combined, that would be enough to raise her out of the top 10 “poorest” members of Congress. And if they are worth over $1.04 million combined, that would be enough to bring her net worth above zero.

J.S.K. on September 26, 2013 at 7:44 PM