BRIAN ROSS REPORTS
TOP BLOTTER CATEGORIES
- Abramoff Lobbying Scandal
- American Al Qaeda
- Avian Flu
- Beirut Hospital Out of Gas
- CIA
- CIA Secret Prisons
- D.C. Madam Affair
- FBI
- Federal Air Marshal Service
- Homeland Security
- Hurricane Katrina
- Mark Foley Internet Scandal
- Millionaire Sex Scandal
- Nigerian E-mail Scams
- Norman Hsu, Clinton Fundraiser
- NSA: Wiretapping
- Osama bin Laden
- Payola
- Pharmacy Investigation
- Speaker of the House Dennis Hastert
- Terror
- Troopergate
- U.K. Airline Terror Plot
- U.K. Bombing Attempts
- Wen Ho Lee
- William Jefferson
- Zarqawi
« Previous | Main | Next »
Despite Downturn, Senate Leaders Made Money in '07
Email
Print
ShareJune 17, 2008 4:01 PM
While last year's sagging economy hit the financial fortunes of millions of Americans -- and most lawmakers -- two Senate leaders did pretty well for themselves, according to a new analysis.
Senate Majority Leader Harry Reid, D-Nev., saw his wealth grow by as much as $1.2 million last year, according to a review of lawmakers' new financial disclosure reports by the Hill newspaper. And Minority Leader Mitch McConnell, R-Ky., saw his assets increase by at least $600,000, according to the paper.
Aside from their $183,500 salary, the two men reported little other income outside of the increase of their investments. Reid received a four-acre property in Searchlight, Nev. from a friend's widow valued at $14,000; McConnell received a crystal sculpture award worth $500 from the American Ireland Fund.
Reid's investments include interests in several mining claims and properties, the paper reported, and has invested in energy and healthcare index funds. Much of McConnell's wealth is spread across more than two dozen investment funds held by himself and his wife, Secretary of Labor Elaine Chao.
By contrast, the paper found, House Speaker Nancy Pelosi, D-Calif., and her husband lost between $880,000 and $7.4 million last year; House Majority Leader Steny Hoyer, D-Md., whose reported his worth to be between $334,000-$760,000, lost as much as $35,000. House Republican Leader John Boehner, R-Ohio, broke even, reporting assets worth between $2.2 million and $7.9 million.
June 17, 2008 | Permalink | User Comments (7)
If Senators, Congressmen, and other government officials had to retire with only Social Security and 401-K's administered by themselves, I bet Social Security, Medicare, Medicaid, health insurance, etc. would get some really special treatment.
Posted by: WHG | Jul 10, 2008 2:48:23 PM
This is a major part of the problems we have. How can politicians really relate to Main St. They have the best retirement and health programs in the world. It's no wonder they want to stay in for life. If they had the same problems as "middle class" folks they would be fixing the system tommorrow. Let's take away those health and retirement benifits and make them pay for their own like we have to. I wonder how many of us could have been able to afford the cost of Ted Kennedy's medical bills including a helicopter trip.
Posted by: Ralph | Jul 11, 2008 9:45:11 AM
Posted by: Ralph | Jul 11, 2008 9:45:11 AM
"This is a major part of the problems we have. How can politicians really relate to Main St. They have the best retirement and health programs in the world. It's no wonder they want to stay in for life. If they had the same problems as "middle class" folks they would be fixing the system tomorrow. Let's take away those health and retirement benefits and make them pay for their own like we have to. I wonder how many of us could have been able to afford the cost of Ted Kennedy's medical bills including a helicopter trip."
I agree with Ralph and have been suggesting that happen for years. I am all for it. If they don't feel the pain they don't do anything. I also don't feel we should be paying pensions to millionaires either. Let them save for it like the rest of us with no pensions.
Posted by: bckrd1 | Jul 15, 2008 11:56:21 AM
It is a real problem to get that done, because they make the laws. Of course they are going to do what ever will benefit them. They are not worried about the people. I believe that Lawyers should not be allowed to hold these offices. That people like you and me should have the seats. REAL PEOPLE WHO LIVE IN THE REAL WORLD.
Posted by: Barbara | Jul 16, 2008 3:19:21 AM
"Reid received a four-acre property in Searchlight, Nev. from a friend's widow valued at $14,000; McConnell received a crystal sculpture award worth $500 from the American Ireland Fund"
Isn't there a law that 'gifts' are treated as public property?
Posted by: J Ashbury | Jul 17, 2008 7:21:49 PM
The laws congress passes are not meant for themselves, but the general public. That’s why you have to pay tax on gifts.
Funny, we have to pay taxes, but the congressman who writes the tax code use the fact that someone speaks Spanish for why he doesn’t have to pay taxes.
Posted by: TFR08 | Sep 30, 2008 6:39:03 PM
I think it is a bit weird that Nancy Pelosi carries that much cash on her when she goes to the senate and it serves as a lesson to her to be more carefull if she looses it.
But my real comment is, if we are electing such non-thinking people that lose that much of their own money then what is our assurance they will not lose OUR tax money when they are going to other departments to pay for govenment programs?
Posted by: monrotus | Oct 16, 2008 8:02:28 PM
Post a comment
