Like the federal government he once was a member of, former U.S. Congressman Tim Mahoney is running in the deep red.

Mahoney, 52, can’t cover his daily bills these days, according to a fresh batch of paperwork filed in a Palm Beach County court in connection with his divorce case.

The former Democratic representative, whose district stretched from Palm Beach to St. Lucie counties and across Florida, claims he makes $4,341 a month as a business adviser while his expenses are $10,851. He runs a $6,510 deficit each month.

Almost half of his expenses, his financial statement shows, are for the couple’s Palm Beach Gardens home, a barn and 5 acres on 114^th Court in the western confines of Palm Beach Gardens, a condo in Canada and 30 acres in Oklahoma.

Don’t shed a tear for the man with the numerous mistresses, though. Even if he’s worth less than what the popular wisdom would have you believe — he once was a venture capitalist — Mahoney isn’t poor.

 Loading ...

He has $1.68 million to his name — even if his wife of 23 years, Terry Mahoney, stands to be handed half of it once the divorce is final.

According to her financial statement in the divorce, the 57-year-old declares no income, with household expenses of $3,379 a month. Other expenses she listed include about $2,200 a month for her horse.

Among his assets, Tim Mahoney lists about $1.1 million in stocks and bonds.

And he says he now owns a business advisory company, Caribou LLC. State records list his home address as the company’s headquarters and list no other partners.

The Mahoneys have made a habit not to comment publicly about the divorce. Neither of their attorneys returned calls.

Then a rookie U.S. Representative, Mahoney ran for re-election last year but lost to attorney Tom Rooney, a Republican, when news leaked that Mahoney paid off a former aide to keep her quiet about their affair. He later admitted to numerous indiscretions.