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Members of the firebrand class of Republican freshmen on Capitol Hill — elected on a pledge to attack the U.S. debt problem — have, in some cases, accumulated tens of thousands of dollars in personal debt, according to financial documents released Wednesday.
Among the 87 new GOP members of Congress, the documents show, at least 30 had liabilities totaling $50,000 or more in 2010.
Those debts included large mortgages on investment properties, as well as student loans and credit card balances. At least seven freshmen had credit card debt exceeding $15,000.
The documents present the most complete financial picture to date of a group that promised to remake Washington with the values of the American heartland.
Judging from members’ bank accounts, the freshman class has elements of both places.
It has brought at least 24 new millionaires to a Congress that already had plenty. But many freshmen, like thousands of other Americans, entered 2011 with significant debt.
Among those with credit card debt was Rep. Blake Farenthold (Tex.), who has pressed for major action to control the national debt. Earlier this year, Farenthold issued a statement rejecting any increase in the debt limit without major spending cuts.
“Like the rest of America,” the statement said, ‘the government needs to tighten its belt and work within its means.”
Farenthold’s 2010 disclosure forms show credit card debt of $45,000 to $150,000. A spokeswoman for the congressman said she could not comment, because she had not located his accountant to discuss the filing.
But this article only mentions freshman Republicans. It hasn't bothered to delve into Democrat freshman debt, has it?