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That does seem like a lot of debt for CC and personal loans. However, if he's not in arrears, does it really matter? Does he have that debt plus a mortgage? I'd be surprised given the debt-to-income ratio.
Who in their right mind would disclose all their assets and debts to the American public. Or to stupid Congress. Hide everything you can, and disclose only the bare minimum. People judge a book by its cover anyway. If you drive an old car and live in a little house people will think you are as poor as a churchmouse. If you live in a big house with expensive cars people will think you have lots of money. American people only judge by appearance. Its a very shallow society.
His wife apparently works as a Town manager and makes $66k. His current salary is apparently ~$220k. So they make combined $300k and have savings of $50k?
Goes to show you that beyond a certain threshold, it is not about how much you make, it is about how much you spend.
He is 53, so I assume his wife is about that age, too.
But I guess if you have a for life position and a pension, you can live paycheck to paycheck
I would vote against him just on this information. This signifies very poor money management skills and poor decision making. Find another conservative who knows how to manage their own money.
While this looks bad, I am sure many people will not focus on it, and focus on his position.
To me it portrays bad decision making skills, but I think more importantly a weakness that can be exploited. Having a public figure in deep debt makes them obligated to someone else, and put pressure to pay off. If they fail at eliminating that debt, they could be open to bribes, payoffs, corruption.
Not that being wealthy or out of debt makes those impossible, everyone loves money. Greed vs desperation.
White House spokesman Raj Shah told The Washington Post that Kavanaugh built up the debt by buying Washington Nationals season tickets and tickets for playoff games for himself and a “handful” of friends. Shah said some of the debts were also for home improvements.
In 2016, Kavanaugh reported having between $60,000 and $200,000 in debt accrued over three credit cards and a loan. Each credit card held between $15,000 and $50,000 in debt, and a Thrift Savings Plan loan was between $15,000 and $50,000.
The credit card debts and loan were either paid off or fell below the reporting requirements in 2017, according to the filings, which do not require details on the nature or source of such payments. Shah told The Post that Kavanaugh’s friends reimbursed him for their share of the baseball tickets and that the judge has since stopped purchasing the season tickets.
Maybe he's a cc points and miles guy. Ideally, his friends paid him back immediately so he didn't carry that balance, and he put the tickets on a Citi Prestige card. (2x points for entertainment, including sporting events)
On his assets:
Quote:
The value of residences is not subject to disclosure, and Shah added that Kavanaugh has a government retirement account worth nearly half a million dollars that also was not required to be disclosed.
“At this time the Kavanaughs have no debt beyond their home mortgage,” Shah said.
He said that Kavanaugh has assets of nearly $1 million between the equity in his home and his retirement account.
Isn't it a bit convenient that all these friends that had run up their tab suddenly paid him off?
With his background, his friends are probably wealthier than he is. He was high school classmates with the owner of the Arizona Cardinals and the GM of the Yankees, then went to Yale and has been around the DC elite for years.
I think it's a realistic scenario that he bought several season tickets (at $6.8k each) for his buddies (who are probably pretty rich), expecting them to pay him back. Especially so if he was planning on earning points and/or hit some spending targets.
With his background, his friends are probably wealthier than he is. He was high school classmates with the owner of the Arizona Cardinals and the GM of the Yankees, then went to Yale and has been around the DC elite for years.
I think it's a realistic scenario that he bought several season tickets (at $6.8k each) for his buddies (who are probably pretty rich), expecting them to pay him back. Especially so if he was planning on earning points and/or hit some spending targets.
Sounds logical. Let's make the poorest friend make the expensive purchases, put it on his credit cards, so that he is legally required to disclose them and look like a spendthrift publicly, and then pay him back a year later.
Sounds logical. Let's make the poorest friend make the expensive purchases, put it on his credit cards, so that he is legally required to disclose them and look like a spendthrift publicly, and then pay him back a year later.
The reasoning is more along the lines of "let the poorest guy earn some points/status". I don't know when they intended to pay him back or when they actually paid him back.
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