Texas Republican Congressman, Steve Stockman, is fond of blasting the federal government for reckless spending and for not being transparent, but the Tea Party firebrand has his own financial difficulties, which call his ethics into question.
The certified accountant does not seem to be able to fill out simple financial disclosures that every other member of the Texas’ Congressional delegation has had no difficulty completing accurately and legally. Even the intellectually challenged Louis Gohmert successfully complied with federal disclosure requirements, but Steve Stockman did not.
Stockman has delayed filing his financial disclosures, and what information he has released has been incomplete. Where Stockman’s money comes from remains a mystery. He has listed at least seventeen different business names or corporate identities based mostly out of mailboxes in Friendswood and Webster, Texas with a reach into several states and the British Virgin Islands. Yet, his source of income in 2013 was listed as Presidential Trust Marketing, where he earned 350,000 dollars in salary and fees. Stockman has not, however, disclosed an ownership interest in Presidential Trust Marketing, nor disclosed the business’ value, as required under federal law. The Houston Chronicle reports that the business is not found in any searchable database.
Stockman’s failure to disclose the source of his revenue raises serious ethical questions. Though the Congressman touts himself as a fiscal conservative, his history of poor money management and personal business failures is legendary.
In 2002, Stockman declared bankruptcy claiming debts of over 500,000 dollars, including 147,000 dollars in unpaid credit card debt. He also owed over 140,000 dollars for renting a “Ditch Witch” machine. In addition, he was sued for writing a bad check to pay for the monthly lease on the “Ditch Witch.”
Stockman also co-founded a biogas company in New Mexico that was supposed to bring hundreds of jobs and millions of dollars into the economy of Clovis, New Mexico. However, Stockman and his business partner never applied for the required permits and never began any projects for the shadow company.
Steve Stockman’s source of income is a mystery, but one thing that is not a secret is that the Tea Party Congressman has no ability to handle money responsibly. His lack of transparency and his financial incompetence make him unfit to solve the nation’s fiscal woes as a member of Congress.
Steve Stockman loves to lecture others on financial responsibility, but he is incapable of taking responsibility for his own fiscal choices. His district deserves better, the state of Texas deserves better, and America deserves better than Steve Stockman.
Edited by SS
