Can you keep the nation’s finances in order? Well, how about your own finances?
Sen. John McCain (R-Ariz.) and his wife reported more than $100,000 of credit card liabilities, according to financial disclosure documents released Friday.
The presidential candidate and his wife Cindy reported piling up debt on a charge card between $10,000 and $15,000. His wife’s solo charge card has between $100,000 and $250,000 in debt to American Express.
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Democratic candidate, Sen. Barack Obama (D-Ill.), reported no liabilities in his annual financial disclosures.
I don’t think I’ve ever had $1000 in credit card debt for more than 72 hours.
Gotta love the perks of being a politician. Obama worked in the Illinois legislature for 7 years and gets a pension between $50-$100K.
That’s not a knock on him, but the system in general.
Um…McCain has been a Washington politician for 25 years. I’m sure he’s made more than Obama has in seven. Why does he have this kind of credit card debt?
Feh. Big deal. The McCains are worth millions. I’d bet the average balance on their cards is high, but that it turns over constantly. In other words, they spend like, um, millionaires.
I think you’re missing the point. Cindy McCain is supposed to have over $150 million, right? So $100,000 credit card debt is a drop in the bucket.
The real question for me is if this is a credit card debt that American Express will demand payment for, or a bribe….
McCain is a senator from Arizona. American Express has several enormous facilities in Arizona. I don’t know if this is still the case, but the largest non-military IBM site west of the Mississippi used to be an enormous American Express facility located in North Phoenix.
$100,000 on an American Express charge card is really not a big deal to American Express or their top customers. Some celebrities and rich have purchased aircraft and charged it on their card.
Still, $100,000 on a card that doesn’t need to be repaid could be an under the table bribe….
The Obama campaign should play up the fact that he and Michelle only finished paying off their student loans a year ago.
It would be a very effective reminder of who the real elitist is in this race: the community organizer from Chicago or John “8 or 9 houses” McCain!
Um…McCain has been a Washington politician for 25 years. I’m sure he’s made more than Obama has in seven.
I’m sure he has. That wasn’t my point. I was merely expressing some laughter at the pensions our elected officials are in line for.
As for McCain’s credit card debt, it’s not all that much based upon their income. The American Express could be a Delta Sky Miles card or something.
The Obama campaign should play up the fact that he and Michelle only finished paying off their student loans a year ago.
The “community organizer” just raked in over $4 million in book royalties. Trying to go mano y mano in the common man battle isn’t going to bring about many political dividends.
Raking in $4 million dollars in book royalties–that is, making money off of a creative endeavor that one accomplished themselves–is a negative?
“”The “community organizer” just raked in over $4 million in book royalties. Trying to go mano y mano in the common man battle isn’t going to bring about many political dividends.”"
Is anybody in the Senate not independently wealthy? The idea of a common man battle between anybody at this level of politics is an exercise in empty rhetoric.
I don’t have that sort of credit card debt, but that is because I have student loans out the whasoo. I guess I better sympathise with Obama, yet he makes way more than i do.
“Trying to go mano y mano in the common man battle isn’t going to bring about many political dividends.”
McCain has a private, man-made lake.
Obama wins the common man argument with ease.
Parthenon:
I don’t know if it has changed since 2006. Before the Democratic wave of that year, you’ll never guess who was the poorest Senator and what his net worth was.
(Hint: He’s a Netroots hero)
Spider, I’m not saying it is a negative. I’m saying it doesn’t matter. It’s not a campaign tactic that will work.
Is anybody in the Senate not independently wealthy?
There are some and those are the ones who’ve spent most of their life in public office. The last time I saw anything official was like 3-4 years ago where it said 40 of the 100 Senators were millionaires. The same report said about 10 had a net worth of less than $100,000.
The problem is, it takes quite a bit of cash to launch a Senate bid. There’s too many people that can’t quit their jobs to run full time for a Senate seat. If you’ve got a few million lying around, it becomes a lot easier.
I agree that the credit card debt is not a big deal. I think Amex knows that the McCains are good for it.
American Express has to be paid off every month in full. Unless there are other versions of the card out there where you can roll a balance from month to month. When my credit card(s) get to about $500.00 I get real miserly.
The Huffington Post is reporting that the hundred grand on the American Express card comes with a 0% interest rate.
Sweet deal. I wonder if it also includes 3% back on his gasoline?
Just read that debt is being held at 0% interest. Personally I think someone should file a complaint with the FEC. It’s clear to me that AMEX is floating McCain’s loan as a campaign contribution.
Not surprised that the McCains are scamming the system, but I note that Obama’s financial disclosure stated that he and his wife have put aside $200,000 for their kids’ college tuition. Does that mean he doesn’t expect to do anything about skyrocketing college tuition? Sure seems that way. But I guess that’s what elitists do.