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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFormer Minn. Repub Party Chairman, Known for "Live within your means mantra"....declares bankruptcy
Tony and Bridget Sutton say they owe $2.1 million in filing for Chapter 7.
Article by: Baird Helgeson , Star Tribune
Updated: September 9, 2013 - 6:01 AM
A hard-charging former state Republican Party chairman whose constant refrain to DFLers and even GOP lawmakers was live within your means has declared personal bankruptcy, the latest twist in one of the most dramatic political downfalls in recent state history.
At the height of his power, Tony Sutton demanded that Republican legislators oppose all tax increases and keep state spending strictly in line with revenue. Few realized it at the time, but the GOPs finances under Suttons management were a shambles, and the same scenario was playing out in his personal life.
Sutton and his wife, Bridget Sutton, an Inver Grove Heights school board member and former Republican operative, say they owe $2.1 million, including $70,000 of credit card debt, $20,000 in federal student loans, unpaid state and federal taxes, and hundreds of thousands of dollars in unsecured personal loans to cover business expenses. At the time they filed, the Suttons had no life or health insurance.
Sutton did not respond to repeated requests for comment.
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http://m.startribune.com/news/?id=222902471&c=y
Tripper11
(4,338 posts)egold2604
(369 posts)BlueToTheBone
(3,747 posts)hatrack
(59,606 posts)Pathetic.
Mojorabbit
(16,020 posts)I feel for them though. All can be going well and it only takes one thing to start everything unraveling. I don't wish anyone ill and I hope it makes them more compassionate people.
Sheepshank
(12,504 posts)....is that Mike Lee was in a similar situation.
Why do these idiots get any fiscal credibility....ever?
Katashi_itto
(10,175 posts)Egalitarian Thug
(12,448 posts)always declare residence in Floriduh when they get caught. Even if your primary residence is a 600 acre estate with a 50,000 sq ft mansion in Floriduh, it is protected under state law from the bankruptcy court.
Heywood J
(2,515 posts)4Q2u2
(1,406 posts)Just fold your tent up every so often and re-neg on your bills on move on to the next set of suckers. This has nothing to do with living with your means. They will walk away from most of their bills keep their stuff and this article was written to help the idea that were are more stupid than vultures. Funny irony is BushCo made personal bankruptcy harder.