Whoa, Rep. Nathan Deal, the GOP nominee for governor in Georgia, is in a bit of a bind:

In the midst of his campaign for governor, Nathan Deal faces such dire financial troubles that he must sell his home to avert foreclosure or bankruptcy. Even if Deal liquidates all his assets, however, he still might be unable to repay a nearly $2.3 million business loan, documents reviewed by The Atlanta Journal-Constitution indicate. The loan comes due in full Feb. 1 — less than one month after Deal hopes to take office.

Bankruptcy? That's verbotten. The banks didn't like it, so Republicans (and many Democrats) in Congress and Bush made it harder for people to declare bankruptcy. In fact, Deal voted for that onerous bill.

Officials with Deal’s campaign confirmed that the candidate is in a precarious financial position. They described the debt as a sensitive matter for Deal and his wife and their three grown daughters.

Yeah, debt is a sensitive matter for lots of Americans. Too bad Deal and his GOP colleagues in Congress have fought to prevent further economic stimulus or the extension of unemployment benefits. The economy is tough! But people who are hurting are lazy! So does that mean that Deal is lazy?

Nevertheless, the looming repayment deadline presents a set of unattractive options for Deal, a Republican from Gainesville: He could declare bankruptcy and ask a judge to void the debt. He could sell as many assets as possible and ask the bank to write off the loan’s balance. Or he could default on the loan, forcing the bank to seize property he used as collateral and possibly sue him for the remainder.

Bankruptcy? Bad! Having a judge modify the terms of the debt? That's too much like cramdown legislation the GOP opposed. Doesn't Deal know that a contract is a contract? It's inviolable as long as it's the little guy getting screwed!

Deal has publicly addressed the loan’s effect on his financial standing just once: in his written response to an ethics investigation that began before he resigned from the U.S. House of Representatives in March. Deal was accused of using his congressional staff to pressure state officials to continue a vehicle inspection program that had paid hundreds of thousands of dollars to an auto-salvage company in which he is a part owner. He told investigators he was forced to tap into his equity in the salvage firm — at a rate of $75,000 a year — because of his daughter and son-in-law’s failed business.

A Republican is corrupt. Try not to act too shocked.

It must have seemed an ideal spot for a sporting-goods store focused on hiking, hunting and other outdoor pursuits: 1-1/2 acres beside Ga. 365, the busy main highway leading from Gainesville through Habersham County into the mountains of northeast Georgia.

Hiking? I don't know. Sounds kind of granola, no matter how many shotguns they put on display to try and butch up the joint. He should've put an oil drilling well there instead.

Deal earned a relatively modest income over the past three decades — an average of $150,000 a year since 1981, according to tax documents he released in early September.

$150K/year? That's a weird definition of "modest". Per 2006 Census figures, that would put Deal in the top 5 percent (or so) of all Americans.

Deal bought [his house] property seven years ago for $430,000, according to public records. On 5 acres, it features a main house of about 4,000 square feet, a 1,900-square-foot guest house and a pool. Deal listed the property for sale about a year ago for $985,000, its assessed market value, but has not found a buyer [...] The only significant asset Deal plans to keep is a cabin in Habersham County, aides said. That property, too, is assessed at about $700,000; on the financial disclosure he filed in May, Deal said he owed $610,000 on the mortgage.

That's two properties for which he paid over $1 million dollars for, on his "relatively modest" income of $150,000. Hmmm, that doesn't exactly scream "responsible fiscal conservative". And that's before cosigning on the $2 million business loan.

Deal clearly tried to live well beyond his means -- a cardinal sin according to conservatives everywhere. He's also considering bankruptcy to deal with the situation -- a distinct lack of "personal responsibility" according to conservatives everywhere. And he used his position to try and funnel more cash into his pockets. Like elected conservatives everywhere.