Web site adds up finances of lawmakers, candidates
PAM ZUBECK – Colorado Springs Gazette
How much is a politician worth? No, this is not a joke or a trick question.
According to OpenSecrets.org, the richest House member, Jane Harman, D-Calif., is worth $409.4 million; the wealthiest senator is John Kerry, D-Mass., $267.8 million.
The average net worth of all House members is $5 million and more than twice that for senators.
So the answer is: A lot.
In the 5th Congressional District, though, it’s a different story.
Rep. Doug Lamborn has assets up to $115,000 – a growth fund up to $15,000 and a $100,000 campaign loan to himself.
That sum ranks him 406th among House members in personal wealth.
Before being elected, he made $30,000 a year as a state senator and $1,000 from his law practice. Now taxpayers pay him $169,300.
Lamborn’s only debts are between $10,001 and $15,000 each on two credit cards. His wife, Jean, owns a home on Mulligan Drive in Colorado Springs valued by the county assessor at $533,426.
Why should anyone care about such things?
“Being able to review how politicians invest their money is one more way for voters to size up the candidates and trust that their elected representatives aren’t in public service for personal gain,” said Massie Ritsch, communications director for the Center for Responsive Politics.
The center produces the OpenSecrets.org site, which spotlights Congress members’ wealth and who’s taking money from whom, among other things.
Data are based on financial disclosure statements required of lawmakers and candidates, which report values in ranges rather than exact figures.
So how do Lamborn’s GOP opponents compare?
Jeff Crank is worth up to $966,675, the top value of 19 assets that include investments, stocks, a home and a $57,000 campaign loan.
Crank’s chief asset is his Shaugnessy Road home he reported in 2007 was worth $100,000 to $250,000 as it was being built. After completion this year, the assessor valued it at $556,675.
Crank’s $79,752 annual income came from XAware Inc. and Rocky Mountain Consultants.
Crank’s only liability is a home construction loan of up to $250,000.
Bentley Rayburn’s only asset, a condo in Tacoma, Wash., is worth $442,000, according to the assessor. He valued it at $250,000 to $500,000.
The retired major general got $98,908 in 2007 from his Air Force pension and between $15,001 and $50,000 in rent.
Rayburn owes between $25,001 and $65,000 on two credit cards and up to $250,000 on the rental.
He didn’t list $160,000 in campaign loans to himself as assets, he said, because he doesn’t expect repayment. That money came from insurance policies, active-duty pay and rent.
By the way, Dick Cheney is about $46.5 million richer than his boss.
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what a “fiscal conservative” he is with his paycheck and campaign mail coming out of the taxpayer pockets… can you say hypocrite?
If he made big money in Oil or Baseball, then he would be a “RICH’ Republican.
If he lives humbly and serves his constituents as a Representative for 12 years in the Colorado House and Senate, then he is a hypocrite.
YOU CAN’T HAVE IT BOTH WAYS.
I can’t agree more. If a Republican has his/her own financial security, they’re the “Evil Rich.” If they don’t, they’re they’re, according to Go Blue, “hypocrites”.
I don’t remember Congressman Lamborn ever asking for or demanding his salary which is attendant to his position. He’s obviously comfortable living off of much less. If that’s what a Congressman’s salary is, then so be it. It’s evident that the man is not demanding, or reliant, on that money, it’s simply something that comes with the territory.
He’s no more of a hypocrite than any other elected officlal. Get over yourself Blue.
Lamborn just carries water for the rich, probably in the hope of being admitted to the Old Boys Club.
I didn’t bother reading the diary, as I couldn’t care less about Lamborn’s net worth and suspect that the kool-ade swillers of CD5 don’t either, but I’m reminded of DemoGirl’s revelations that Lamborn made zilch as a lawyer, calling into question both his legal prowess and whether he was just sponging off his wife.
His wife works part time as an art teacher. And that her father was an electrician and her mother was a homemaker.
I bet that side of the family is just ROLLING in cash.
Lamborn needs to keep his job in Congress, as he’s unable to make any money as a lawyer and his wife barely pulls in five figures, otherwise they’ll lose their half-million dollar house? That’s his argument for re-election, Save the Lamborn Home on Mulligan Drive?
that he stopped making money as a lawyer last year because he was campaigning full time. I have a hard time thinking money is the reason he’s been in politics for the last 14 years. There are easier ways to make a buck.
That’s fine, I don’t begrudge the guy a good living. But isn’t that at odds with this diary’s portrait of him as a pauper? Lots of people have bad years (or forgo income to run for higher office). Lots of people also include their wife’s house and income when figuring family assets, in order to paint a more complete and accurate picture.
When Lamborn loses, they lose their jobs, too!
I’m sure I could find a statement or vote by Lamborn to show him actually having it both ways, railing against “entitlement” programs like health care for kids, while he happily takes in his congressional pay check and uses congressional funds to send out what $100,000 in direct mail to his constituents?
It seems to me that Lamborn living humbly and comfortably for 12 years shows that he knows what it means to live and operate on a budget. A man of the people indeed. This proves he’ll be a good steward with our resources in congress.
…and still be a crappy legislator
Anyone ever hear why the Lamborn home is only in Jean’s name?
would be
So much for the ”Rich Republicans” label… Lamborn, Crank and Rayborn, Men of the People.
They’re all pretty close in income and assets, why single out Lamborn?
OK, so Lamborn’s a Man of the People. What does that make Crank and Rayburn? Men of the Delegates to the 5th District Convention?
It makes them candidates for office that I did not address one way or the other.
You questioned why I titled the post they way I did, why i singled out Congressman Lamborn, and I answered you.
Doug Lamborn is our congressman, and he will be that in August, and November and January next year.
The other guys you mentioned have never been elected to ANYTHING, EVER. I don’t see that changing in 2008.
Now if your point is that General Rayburn, and political insider Jeff Crank are not “Rich Republicans” either, I say you are probably correct. That whole idea was a fabrication of our liberal friends here and elsewhere that would like to paint Republicans as money obsessed sell outs.
Doug Lamborn is a man of the people who has served 12 years in the Colorado Legislature, and soon to be 2 years in the US House. He has not gotten rich off his public service.
If you prefer one of the other candidates for CD-5, so be it. But you must agree the correct title for MY post, is the one I choose, and is truthful and accurate. If you want to post a similar item about the guy you like that is truthful and accurate, you will get no flack from me.
I hadn’t realized everything was up for discussion except the titles of these posts. It won’t come up again.
Disinterested observer here, no horse in the 5th District at all. I’m not so versed in Crank’s background, but I’d say Rayburn fits your bill as a Man of the People too, since he appears to be comfortable, but hasn’t gotten rich either, after his years of military service (for the people).
I’d be more comfortable too if Lamborn didn’t keep his wife off his books, but I’ll take jericho’s word for it, she came from humble beginnings (like Jared Polis, the Clintons, Dick Cheney and most of the rest of this great nation of ours).
But if Lamborn, who can’t even claim majority support within his own party after decades serving the public, is a Man of the People, then so be it. Good luck with that.
Honestly a few of my fellow Republican polsters here who are “in the Tank for Crank”, cause me to be ‘”on guard”, and a little sharp sometimes. Except Haners who is in the same tank, but remains a reasonable and thoughtful person while supporting his guy.
Your right, General Rayburn is an honest man by all appearances, but as much as you can call a General a man of the people, I personally think that’s a stretch I wouldn’t make. But I would vote for him if Lamborn was not running.
A lot of professional people, of both parties keep separate accounts and ownership for some reason. Come to think of it, a lot of non political professional people I know do the same.
Oh well, nice talking to you.
Although our house is owned jointly. The rest is seperate because it’s easier to handle everything that way.