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

Posted on 06/13/2008 10:54:15 AM PDT by 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.

(Excerpt) Read more at ...

TOPICS: News/Current Events; Politics/Elections
KEYWORDS: 2008; credit; debt; mccain
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To: goldstategop

But he fits in well with the last 8 years...

41 posted on 06/13/2008 11:14:12 AM PDT by Philly Nomad
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To: UCFRoadWarrior

People also go to great lengths to bash him. This is a non-story. A one-time view of a credit card balance tells you absolutely nothing.

42 posted on 06/13/2008 11:14:46 AM PDT by John W (Hawkins)
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To: K-oneTexas
But does she have the money Mrs. McCain does?

No, but she spends plastic like it's "free money"...........

43 posted on 06/13/2008 11:15:12 AM PDT by Red Badger (NOBODY MOVE!!!!.......I dropped me brain............................)
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To: Sub-Driver

Not a story. This is puffed up nothing.

44 posted on 06/13/2008 11:15:19 AM PDT by Clara Lou (~sigh~ '08)
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To: Perdogg

Not always. I had a normal everyday Amex that would allow normal “pay over time” expenses if the purchase was large enough. I had to put $3,200 of vehicle repairs on it when my wife got stranded in Atlanta a couple years ago. The interest rate was not good (about 19%), and, well, let’s just say that here I am two years later dealing with the collections agency because Amex was the one card I had that wouldn’t play nice with the credit counseling people. Fortunately their balance will be gone in five more painful months, and I can start to throw that money at the rest of my cards and make some good progress.


45 posted on 06/13/2008 11:15:40 AM PDT by Moose4 ( -- Because 20 million self-important blogs just aren't enough.)
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To: Sub-Driver
This is so dumb. The McCains are on the campaign trail and they undoubtedly put whole slews of things on the credit cards while they're on the road travelling here and there across the country.

The McCain campaign treasurer and staff sorts out the expenses every month as to what is personal and what are official campaign expenses and then things are allocated to their proper slots accordingly.

The media is so slavering that it writes about everything and anything, trying to put a bad spin about any and all Republicans. Breathing rhythms of GOP candidates will undoubtedly be the next subject of a 5000-word article by some media jerk.


46 posted on 06/13/2008 11:16:23 AM PDT by MinuteGal (Stay Home in Nov. For More Taxation, Regulation, Litigation, Ginsburgization and Obamination)
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To: Izzy Dunne

Good one

47 posted on 06/13/2008 11:16:56 AM PDT by ncpatriot
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To: Sub-Driver

Get used to it. By the time this election comes to vote, McCain won’t be able to take a dump without the media reporting now bad it will be

48 posted on 06/13/2008 11:16:58 AM PDT by Old Flat Toad (Pima county- Home of the single vehicle accident with 40 victims.)
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To: Red Badger
Now, Dad!

Sounds familiar. I have four daughters ... I've lived through that, still am.
49 posted on 06/13/2008 11:17:03 AM PDT by K-oneTexas (I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))
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To: Jeff Chandler

That’s the story though. Your average guy can’t afford to run up $100K in credit card debt.

50 posted on 06/13/2008 11:18:13 AM PDT by Brilliant
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To: Sub-Driver
Contrasted with their wealth, that's chickenfeed.

Cindy McCain Had $6 Million Income in 2006

51 posted on 06/13/2008 11:18:17 AM PDT by ravingnutter
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To: Sub-Driver

Hey Johnny Mac?

What’s in YOUR wallet?

52 posted on 06/13/2008 11:18:30 AM PDT by mkjessup (Obama-flakes! = Little suntanned Jimmy Carters with twice the empty rhetoric , from DNC cereals!)
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To: Izzy Dunne

Exactly... McCain is a victim of these evil credit card companies. They should be required to cancel his debt.

53 posted on 06/13/2008 11:19:38 AM PDT by Brilliant
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To: Sub-Driver

What a bunch of morons...

I've run my Amex up to $35k on any given month.

It's called "business travel."

54 posted on 06/13/2008 11:20:34 AM PDT by Cobra64 (
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To: mkjessup


55 posted on 06/13/2008 11:21:56 AM PDT by AuntB (Vote Obama! ..........Because ya can't blame 'the man' when you are the 'man'.... Wanda Sikes)
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To: Sub-Driver
Everyone on this thread seems to be overlooking the obvious explanation: McCain ran up this debt when his campaign was out of money last fall, and campaign finance laws forbid Cindy from paying it off for him [just like they forbade TuRAYzuh from paying off Kerry's debt].

If that's the case, and if his campaign still hasn't raised enough money to pay off his debts from last fall, then he really is doomed.

56 posted on 06/13/2008 11:23:23 AM PDT by KayEyeDoubleDee (const Tag &referenceToConstTag)
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To: Moose4
You sound like you may be a fan of Dave Ramsey, if not, I'll bet you could become one! The man has been there and back, having gone bankrupt with a young family, now he has a highly successful radio show, several books, and a show on Fox Business Network. I listen to him every day after work, especially Fridays... that's when he has people who have succeeding in paying off all debt (excluding or including house) to call in and scream about being debt free. Inspiring!


57 posted on 06/13/2008 11:24:40 AM PDT by EarthBound (Ex Deo,gratia. Ex astris,scientia (Who the hell do I vote for now?))
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To: Pravious
“Why would people who make as much money as the McCains have any CC debt at all? Do they enjoy paying interest they don’t have to, for some reason? Or does money just mean that little to them, since they’re rolling in it?”

Who says they pay any interest at all? Cindy makes over 6 million a year. If she spends 100k a month on her CC it would show that every month even if it was paid off each month. John has about 10-15k on his and he likely spends that each month on his CC. Its no big deal. Some people don't carry cash or write checks.

58 posted on 06/13/2008 11:26:17 AM PDT by Beagle8U (FreeRepublic -- One stop shopping ....... Its the Conservative Super WalMart for news .)
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To: Non-Sequitur

Hmmm, let me think!

59 posted on 06/13/2008 11:27:02 AM PDT by Holicheese (Hillary deserves the CMoH for her time in Tuzla!)
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To: rabscuttle385
If you have balances at low, fixed rates below 8 percent, obviously, be prepared to pay them off at any time, but otherwise, it's stupid from a financial standpoint to pay them off just because you can. You are better off allocating the funds towards more productive uses.

that's why i laugh at people that say things like "if i ever win the lotto, fist thing i'll do is pay off my house"
why? maybe pay it down partway, get a low interest rate mortgage and invest the money. i'd gladly continue to pay 6% on money if i'm using the money to make 10%.
60 posted on 06/13/2008 11:29:33 AM PDT by absolootezer0 ( Detroit: we're so bad, even our mayor is a criminal)
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