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.