McCains report more than $100,000 in credit card debt

The Hill ^

[Sub-Driver]

McCains report more than $100,000 in credit card debt By Kevin Bogardus and Manu Raju Posted: 06/13/08 10:20 AM [ET] 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.

Another charge card with American Express, this one for a “dependent child,” is carrying debt in the range of $15,000 and $50,000.

Cindy McCain reported a wealth of assets, including properties in Arizona and one she sold in La Jolla, Calif. for more than $1 million in profit.

In addition to his Senate salary, McCain received an annual pension from the U.S. Navy that is worth more than $58,000.

[Sub-Driver]

enough said.......

[Jeff Chandler]

Peanuts to a family with their assets.

No story here.

[ClearCase_guy]

Is the media expecting the McCain’s to declare bankruptcy? Have they no clue at all?

[Izzy Dunne]

It's not his fault.

O'bama said so.

[mnehring]

These numbers really aren't relevant if they aren't put in perspective of their income. If this represents, for example, 1%-10% of their annual income, then it isn't that high. If it is, like some people, 100%+ of their income, different story.

[TheThirdRuffian]

Is it temporary?

I’ve been in $100,000 credit card debt when I bought a trailer/rig to carry part of a rig one time. It was zero percent interest for six months, and I paid it in five.

That’s what they are for.

[Big Guy and Rusty 99]

John, I run a debt management company. Give me call. My office is open from 9am to 9pm Monday through Friday. Don’t let your debt take control of you.

[goldstategop]

More debts than assets? I've never piled the much on my credit card! No way he'd be able to repay it from his Senate salary and his pension that kind of money. Of course, a bankrupt President doesn't look and sound good politically.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[rabscuttle385]

Democratic candidate, Sen. Barack Obama (D-Ill.), reported no liabilities in his annual financial disclosures.

What...no off-balance sheet liabilities, Senator?

[Cicero]

Pocket change. Otherwise known as rounding-off money. Beer heiresses and senators don’t live like the rest of us.

[parcel_of_rogues]

How much of this is 0% interest for X months offers?
I carried 20-30K credit debt over the last few years without paying a penny in interest.

[ClearCase_guy]

You do realize that they have a net worth of about $100M, right?

[gov_bean_ counter]

Democratic candidate, Sen. Barack Obama (D-Ill.), reported no liabilities in his annual financial disclosures.

Must have been filed after he unloaded one preacher and one adviser.

[Rennes Templar]

I believe Cindy reported $6 million in income last year on her tax return.

[HappyinAZ]

stupid post....not even a drop in the bucket based on their current operating expenses.........

[EEDUDE]

“What...no off-balance sheet liabilities, Senator?”

Just the money he owes his bookie and crack dealer.

[Perdogg]

Amex is revolvoing credit which requires that is paid off at the end of the term.

[Swordfished]

This shows horrendous financial planning. You should NEVER carry a balance on your credit card if you can help it, especially if you have the means to pay it off every month.

[Red Badger]

Almost as bad as my daughter’s............

[goldstategop]

His wife does. I guess John married well.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus