McCain's 225K in credit card debt, Obama's 200K into college fund (thought, Simpson)

[TuborgP]

Which candidate do you think has the most experience to manage our national debt.

A perspective into their finances:

NYT: McCains owed $225,000 in credit card debt - The New York Times - MSNBC.com

Senators John McCain and Barack Obama released their Senate financial disclosure statements on Friday, revealing that Mr. McCain and his wife had at least $225,000 in credit card debt and that Mr. Obama and his wife had put more than $200,000 into college funds for their daughters.

The bulk of the McCains’ obligations stemmed from a pair of American Express credit cards that are held in Cindy McCain’s name. According to the disclosure reports, which present information on debts in a range rather than providing a precise figure, Mrs. McCain owed $100,000 to $250,000 on each card.

Another charge card, held by what was described as a “dependent child,” had also accumulated debts of $15,000 to $50,000. In addition, a credit card held jointly by the couple was carrying $10,000 to $15,000 in debt, the filing indicated, at a stiff 25.99 percent interest rate.

[jmarquise]

I am pretty sure that the mccain's can pay of this debt. the new york times is a tabloid.

[NSHL10]

200K in college accounts 1.5 Million dollar brownstone. I guess Obama isn't as "working class" as he claims he is.

[TuborgP]

http://www.nytimes.com/2008/06/14/us...l?ref=politics

The full article from the tabloid. However it is the numbers and not the messenger. One could spin it as spending for now vs investing in the future.

[jmarquise]

the mccain's probably throw away that kind of money monthly. she's loaded.

[ViewFromThePeak]

Originally Posted by jmarquise

the mccain's probably throw away that kind of money monthly. she's loaded.

It's funny that "loaded" people mismanage their debt obligations .

It was smart that they sold their land just before the real estate ponzi scheme unfolded.

[ViewFromThePeak]

"In addition, a credit card held jointly by the couple was carrying $10,000 to $15,000 in debt, the filing indicated, at a stiff 25.99 percent interest rate."



Ain't NO WAY IN H-E-L-L I'd trust a debtor like that with the budget. I guess they don't call him HyperMcFlation for nothin'.

[TuborgP]

I thought you only got a 25.99 interest rate if you were a bad credit risk or clueless about finances.

[TuborgP]

Originally Posted by jmarquise

the mccain's probably throw away that kind of money monthly. she's loaded.

Did I miss where it says she pays it off monthly and doesn't carry anything over? If she did then it is called debt.

[jmarquise]

why aren't they paying it off? laziness?