'It's the Economy, Stupid' Quote of the Day

Asked About Medicaid, Rubio Jokes About His $135,000 Sweetheart Deal

For Immediate Release: March 31, 2008

TALLAHASSEE - This is the latest in a session-long series that will highlight ridiculous, hypocritical, or outright false statements about the Republican Recession.

"My home equity loan. I used it."

- House Speaker Marco Rubio (R-West Miami) when asked about how certain Medicaid funds were restored in the final Health and Human Services budget. [Miami Herald Naked Politics blog, 3/31/08]

Rubio, who claims to "over-disclose," failed to disclose two home equity loans, amending his reports only after a Miami Herald investigation exposed the circumstances surrounding one of the loans. In 2005, Rubio obtained a $135,000 home equity loan when a bank run by his supporters appraised his new house at almost $200,000 more than he bought it for only a month earlier.