TPM: Report: McCains Have Over $100,000 In Credit Card Debt

[Coexist]

http://tpmelectioncentral.talkingpointsmemo.com/2008/06/report_mccains_have_over_10000.php

In an interesting peek into John McCain's personal finances, it turns out that John and Cindy McCain -- in spite of their personal wealth -- are carrying well over $100,000 in credit card debt.

The Hill took a look at the latest Senate financial disclosure forms and found that a joint card held by the two has between $10,000 and $15,000 in charges, while a card that is solely in Cindy's name has between $100,000 and $250,000 in debt. Another card for a dependent child has between $15,000 and $50,000 in charges.

This is despite Cindy McCain having sold a property in California for a profit of more than $1 million.

Barack Obama, who has become wealthy in recent years thanks to book royalties, did not report any financial liabilities.

[saltpoint]

1. Michelle and Barack know how to balance a budget. John and Cindy, eh,

not so much.

[Coexist]

2. and paying taxes on vacation homes... thats for the little people.

[saltpoint]

3. That's right. The peasant class has to do that kind of stuff. Not John

and Cindy.

The're rich folks.

[Coexist]

5. I can't imagine how much love I could buy if I let one of my kids

run up $10,000 in credit card debt on my dime.

[saltpoint]

7. LOL! You could probably even leverage a clean-up-your-room clause as

well.

[Coexist]

9. hell, they'd probably put Merry Maids on their Visa for me, huh!

[saltpoint]

10. LOLOL!

[Cassandra]

4. Also, at least one of those cards has no interest.

I guess with all that debt and all those homes, it's so easy to lose track. And why would we want this deadbeat running our government?

Deadbeat McBush. How does that sound?

[Newsjock]

6. Some of that debt is at 25.99% interest

http://blogs.creditcards.com/2008/06/obama-may-reform-mccains-credit-card-rate.php

... McCain reported he was paying 25.99 percent on their joint credit card, on which they owed somewhere between $10,001 and $15,000. That's at least 10 percentage points above the average credit card rates at the end of 2007.

That's not the kind of interest rate that someone with good credit gets; it's usually the rate of someone who has defaulted on credit card payments -- either to Chase or someone else.

[Coexist]

8. how in the world can that happen?

did he self-finance and we didn't know it???

[TwilightGardener]

11. You'd think Miss Arizona Beer Queen could write a check today

and pay it off so they could stop paying interest on it...what's going on there?

[Uben]

12. $100K?

That is probably Cindy's monthly purchase of make-up!

[Coexist]

13. shhh... I understand make-up application is a senstive subject in their household.