It was recently reported that John McCain and his wife Cindy may have as much as $250,000 in credit card debt. They also reported that they have an American Express card for a "dependent child" that is carrying a balance of between $15,000 and $50,000. On the flip side, Barack Obama reported no credit card debt in his annual financial disclosures. On the surface, one may argue that John McCain is fiscally irresponsible with his personal finances by carrying such a high debt load. A stretch would be to propose that McCain would carry his debt-loving ways into office increasing this Country's overwhelming deficit. Obama, on the other hand, who has no debt would be careful not to overspend the tax payers money.
Upon closer examination, John and Cindy McCain has a net worth of over $40 Million dollars. To put things in perspective, his current consumer debt situation is the equivalent of someone with a net worth of $250,000 having less than $1,600 in credit card debt. Hardly seems worth mentioning his debt when you look at it that way.
Does McCain's use of Credit Cards impact your opinion of his political value?
Other Resources:
