Sunday, September 29, 2013

Ted Cruz - Hypocrisy in the Senate

Now that the Ted Cruz "non filibuster" is behind us, it's time to take a quick look at a bit of financial background for this spokesperson for the anti-ObamaCare club.

From everyone's friends at Open Secrets, here is a listing of his assets for 2011:

Notice the heavy leaning towards Goldman Sachs products?  That may or may not have something to do with the fact that his wife, Heidi Cruz, is a Vice President at Goldman Sachs and, according to Huffington Post, he gets his health care through Goldman's gold-plated health care plan which, back in 2009 was estimated to cost, on average, $40,543 in annual premiums according to the New York Times.

Here is a listing of his liabilities for 2011 which add up to between 13 and 29 times the net worth of most American families (which was $68,828 in 2011 in case you were wondering):

Here is a closer look at his liabilities for 2012 showing that he has a margin loan from Goldman for between $250,000 and $500,000 and a loan and line of credit from Citibank for between $250,000 and $500,000 each.  Mr. Cruz's outstanding loans total between $750,000 and $1.5 million, excluding between $200,000 and $500,000 in mortgage loans as noted above.

If you subtract the range of liabilities from the range of assets, Mr. Cruz's net worth is somewhere between -$204,951 to $3,526,994, putting him in 55th place in the Senate.

Here's a look at his total family earned and non-investment income for 2012:

We can only imagine that his wife's salary is well more than $1,000 annually, given that she has risen to the upper ranks of management at Goldman.  Unfortunately, by law, Senators do not have to declare the actual income levels of their spouses.  It is also key to notice that his salary plus bonus from Morgan, Lewis and Bokius was a whopping $1,759,161 or nearly 35 times the average household income of an American family.

While the Affordable Care Act is far from perfect, it's pretty hard to accept that a wealthy man (by most measures), who is covered by a gold-plated health care plan or who, at the very least can afford the best health care that America has to offer, is hypocritical enough to insist that it's a bad deal for those Americans who desperately need some form of health protection.


  1. Those Americans who desperately need Healthcare are already receiving ( Free Healthcare ) and the Productive class is already paying for it so this " The desperately need " BS is just what it is BS. Obamacare is nothing more than more Government infringement on our Privacy and a TAX. But by all means if you feel the need to want to pay more and save the world talk is cheap...send money the US treasury will be glad to cash your personal check.

    1. Anonymous - over 30 million Americans do not have health care. When they get sick they go to Emergency Rooms (those that will treat the uninsured), and who do you think pays for that? It increases hospital costs which is passed on to Insurance Companies and is passed on to those of us who have insurance. How can someone whose child has cancer keep going to an emergency room for treatment, waiting hours? Are they receiving quality care or Emergency Room Production care?

    2. Productive class? You seem to be more of the "douchbag" class kind of guy. I also don't have an issue paying my taxes unlike you teabagging morons.

  2. Can't argue with or cure stupid !

  3. Thank you for exposing the financial situation of the Ted POS Cruz as much as was allowed by law.

  4. Mind doing the same type of article for Obama and Hillary?

  5. Wow, you are all a bunch of morons or at the very least hypocrites. First, It's amazing that you have a problem with his wife rising in a corporation and doing well. Really shows how hypocritical you all are on equal rights for women in the work place. Second, our wonderful president BO is worth over 12 million dollars, Nancy Pelosi (D) 58 Million dollars, Diane Feinstein (D) 108 Million, Jay Rockefeller (D) 136 Million and the list goes on and on.
    Ted Cruz in comparison is at the bottom of the barrel in assets when compared to other law makers. Unfortunately for the Libs out there, Cant fix stupid.
    The fact is we are $70,000,000,000.00 (that's seventy trillion) in debt when you factor unfunded liabilities. Ted Cruz is working to reduce this and yet because of your biased ignorance you believe ridiculous articles written above actually hold credence. Shame on the people of our country

    1. What you say about Obama, Clinton, etc. assets is very true, and nobody here is knocking the admirable accomplishments of Mr. Cruz or his wife. But neither Obama or Clinton are trying to prevent those 30 million uninsured from getting insurance they can afford (and will have to pay for). That's what makes Cruz a hypocrite.

  6. When SS was setup in the 1930s, average life expectancy in the USA was just under 60 years.

    By the time SS started paying out in 1940, it had risen to 62.9 years (and you couldn't start collecting until 62).

    The average life expectancy in the USA now is nearly 80.

    ( )

    So average life expectancy has raised by nearly 20 years since SS was first setup, but eligibility has raised by only 3 years, along with a sliding window so if you wait until age 68, you get almost 50% more per month. Plus medicare was added in the 1960s with no regard to the increased longevity already accrued.

    The way to fix SS and medicare is to raise the eligibility age by one year every-other-year for the next FORTY YEARS. Just doing it for thirty years would fix FICA-SS/HI for the increase in life expectancy that has already taken place, but average lifespan has increased linearly by 8 years over the last forty years... there's no good reason to think that ramp-angle is going to change, so account for it now in the planned eligibility increase. That would get rid of nearly all the unfunded liabilities.

    Stop being chickensheet politicians and kicking the can down the road, talking about fixes that won't take effect until 50 years from now. Otherwise I think we should pass a constitutional amendment stripping politicians of all retirement benefits, immediately. The ones that have already retired have no right to expect any of those benefits either, since they are as much responsible for this economic mess as those that are still in office.

    And you guys with your strident repugnaturds versus demonicrats rants are all chickensheet for posting as anonymous on here, in my opinion.

    1. so in end one would will retire at age 85.