Sens. Specter, Santorum report 2003 earnings

WASHINGTON (AP) -- Memo to Pennsylvania's two U.S. senators: Don't quit your day jobs for the real-estate or literary worlds.
Both Sens. Arlen Specter and Rick Santorum made a few extra bucks in 2003 on rental properties they respectively own and proceeds from books they authored, according to Senate financial disclosure records released Monday. But that income amounted to only a fraction of the net worth of each lawmaker and his family.
Both Republican senators earn annual salaries of $154,700.
Specific dollar amounts were not provided; the forms present data in broad ranges of dollars.
Specter's details
Specter reported collecting between $5,000 and $15,000 in rent last year from his beach house in Harvey Cedars, N.J. The house is valued at up to $500,000.
He was also to receive between 10 percent and 15 percent of receipts from the sale of his book, "Passion for Truth," which was published in October 2000. The book was ranked 727,025 on Amazon.com's sale list Monday.
But Specter reported assets ranging between $2 million and $7.5 million -- mostly in two Vanguard retirement plans, worth between $1 million and $5 million, and $500,000 and $1 million, respectively. Specter and his wife, Joan, also invested in a bevy of stocks, including AT & amp;T, Microsoft, Oracle, American Express, Lucent Technologies, Walt Disney, Comcast and Cisco Systems. Those investments yielded few or no dividends, the records show.
Specter also listed his 1976 Jaguar and a $10,223 pension from the city of Philadelphia among his assets. He did not report any liabilities.
Santorum's numbers
Santorum, meanwhile, earned a $10,000 advance for a book on the role of the family that is slated to come out early next year, an aide said. His book will be published by ISI Books Inc., which also published "Everyday Graces: A Child's Book of Good Manners" by Santorum's wife, Karen Garver Santorum.
Mrs. Santorum earned the second half of her unspecified advance in 2003 for that book, which was published in October.
The senator also earned between $15,000 and $45,000 in rent from three properties he owns in State College, the records show. The three apartments collectively are valued at up to $300,000.
Santorum's holdings, all of which are listed in his name only, show he invested in four individual retirement accounts and one mutual fund, collectively worth between $33,000 and $145,000, the records show. Those accounts yielded a total $800-$4,200, all of which was reinvested. He holds two life insurance policies, each valued between $1,000 and $15,000.
Copyright 2004 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.