Donald Trump has come out swinging against Marco Rubio on his finances, but Rubio’s finances reveal the appearance of an average American more than deep financial mismanagement.
Rubio has faced scrutiny over his financial history since a Tampa Bay Times story analyzing his use of a GOP charge card revealed some of the records remain secret.
The Rubio campaign has said they will release remain records “soon” within a month, but previous reluctance has fueled speculation.
Rubio’s reluctance to release some financial records is a cause for concern on his commitment to transparency. Yet, in terms of his finances, they aren’t exactly outlandish. Rubio’s financial history is closer to the average American’s experience than Trump’s.
Coupled with Rubio’s liquidation of a retirement fund and a home foreclosure, Donald Trump has gone on the offensive.
“All you have to do is look at his credit cards. He is a disaster with his credit cards … He certainly lives above his means, there’s no question about that,” Trump said at a news conference on Tuesday.
For his part, Rubio has spun his financial history as an everyman experience.
“It will be good for this country to have a President that knows what it feels like to have your house lose its value because of irresponsible and reckless behavior by Fannie and Freddie, by the Federal Reserve … It would be good for this country to have a President that knows what it’s like to owe money in student loans like I once did,” he said in a Fox News appearance.
No smoking gun has been found in Rubio’s finances. Trump’s characteristic hyperbole plays well to his supporters, who distrust any Republican candidate with political experience.
Yet Trump has to walk a fine line when it comes to personal finances. His bombast has been successful against his opponents, but Trump’s personal finances and business performances haven’t been stellar. Given that he benefited early from his family loans and inheritance, whereas Rubio came from humbler means, going on the attack might backfire.
