Bernie $65,000 in Personal Credit Card Debt (Congress, Clinton, American, dollars)
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On that, if Trump actually had any intention of balancing the federal budget, he would have proposed a tax-plan that is different than the one that he did propose -- one that adds about a trillion dollars a year to the deficit.
Until the budget is rolled back to 1990 levels of spending, it can NEVER be balanced.
The credit card debt may be at 0% or a rate lower than the HELOC. If that's the case then using his home as a cash machine would be a very bad financial decision.
Dont see many at 0%, and HELOC's offer tax advantages..
if its short term debt, which it probably is due to the campaign, then I agree, HELOC would be a bad choice.
I'd assume though that the campaign would have their own credit cards, and he wouldnt need to use his own..
he gets some benefit of the doubt on this issue from me..
According to the Politico article that the OP linked:
His wife is disclosing it all.
I find it ironic that the conservatives on this forum are second-guessing what the Sanders' do with their money. Whatever happened to, "it's their money and they are free to do what they want."? Maybe they give a lot of money to charity and that's why they don't have so much personal wealth.
In the end, I don't think what the Sanders' do with their money is our business unless they are doing something illegal.
If he was a CEO of a private corp you'd be singing a different tune.
Until the budget is rolled back to 1990 levels of spending, it can NEVER be balanced.
That's just factually incorrect. The budget could be balanced (although that's really not a good idea for many reasons) without going back to 1990 spending levels. The federal deficit is about $500-550 billion. A combination of tax-increases and spending cuts equaling that amount will balance the budget.
However, Trump, for all his perceived business acumen, wants to balance the budget; increase military spending; not touch Medicare of Social Security and slash taxes.
If he was a CEO of a private corp you'd be singing a different tune.
Are you a mind reader? If not, don't presume what I believe. You will never find anything that I have ever wrote that says that CEOs don't have a right to spend their own money the way they want.
both- and? I don't have a silver spoon in my mouth, parent who left me anything- and I live alone.
The average class of 2015 graduate with student-loan debt will have to pay back a little more than $35,000, according to an analysis of government data by Mark Kantrowitz, publisher at Edvisors, a group of websites about planning and paying for college. Even adjusted for inflation, that’s still more than twice the amount borrowers had to pay back two decades earlier.
add a car and credit cards and other credit -- they don't just OWE student loans
From what I can tell from the OP's article is that Mr. Sanders has credit cards and his total annual usage was $65,000, including a wedding that was charged on the card. There is no mention in the article about whether balances are carried over from one month to another or paid in full at the end of each month.
$65,000 over a year is an average of just over $5,000 per month in total charges. That's less than what I spend on my credit cards and I never carry a balance to the next month.
I know that some are inclined to find something -- anything, to put Mr. Sanders in the worst possible light but I don't see anything here. The guy earns $174,000 and spends $65,000 a year on his credit cards. So?
Exactly.
People use credit cards to accummulate air miles or other rewards but it doesn't necessarily mean they don't clear the balance monthly. It doesn't matter if he charged $1,000 a year or $100,000 a year - all that matters in terms of his approach to fiscal responsibility is that the balance is cleared each month and that no interest is charged.
People use credit cards to accummulate air miles or other rewards but it doesn't necessarily mean they don't clear the balance monthly. It doesn't matter if he charged $1,000 a year or $100,000 a year - all that matters in terms of his approach to fiscal responsibility is that the balance is cleared each month and that no interest is charged.
I think the thread title is misleading.
But he's not paying off his balances every month. That's the point that we're discussing.
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