Rubio's cash needs: run for president, replace fridge ...

AP News
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Posted: May 17, 2015 2:05 PM

WASHINGTON (AP) — Republican presidential hopeful Marco Rubio says he's not poor, but he's not rich either.

And that, he says, explains why he cashed out some of his retirement accounts last year.

The Florida senator tells "Fox News Sunday" he wanted the cash because he's running for president — but also because his refrigerator broke and "that was $3,000," his air conditioner had to be replaced and his kids' schools are getting more expensive.

Rubio sold retirement funds worth more than $68,000 last September, according to his personal financial disclosure statement. He made the sale even though he apparently had ample cash in the bank. He reported between $100,000 and $250,000 in a checking account and between $50,000 and $100,000 in a money market account at the end of 2014.