McCain, Obama on pocketbook issues — their own

June 13, 2008

WASHINGTON – If the way someone runs their household accounts is any indication of how they would run the federal government’s, voters might want to look at rtx6ung.jpgthe financial disclosure statements released Friday by White House contenders John McCain and Barack Obama.

Presumptive Republican presidential nominee McCain has earned a reputation in the U.S. Congress as a conservative fiscal watchdog.

Yet he and his wife, Cindy, racked up at least $210,000 in credit card debt last year, according to his Senate financial disclosure form.

While the McCains are multimillionaires, the form showed that in 2007 they had a joint credit card with between $10,001 and $15,000 in debt.

Cindy McCain also had two cards solely in her name, each with a debt of $100,001 to $250,000.

rtx6ugy.jpgMcCain’s Democratic opponent, Obama, and his wife, Michelle, reported no liabilities. Obama also reported earnings from book royalties totaling more than $4 million.

The couple’s assets, including retirement funds, college savings accounts for their two daughters and other assets, were valued in the range of about $1.9 million to $7.2 million.

The financial activity for both candidates was in addition to their annual Senate salaries of $169,300.

Click here for more Reuters 2008 campaign coverage. 

Photo credits: Top: Reuters/Shannon Stapleton (McCain speaks in New York June 12)Bottom: Reuters/Allen Fredrickson (Obama answers questions in Wisconsin June 12)

6 comments

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Interesting.
It’s time for a change someone who knows how to manage thier own funds. Obama will be a great asset. Obama “08″

Posted by M. Hazard | Report as abusive

I think McCain’s congessional record should be what’s most important here. So what about CC debt….how do you know they don’t pay the balances in full every month? As long as they can afford to pay their bills, what does it matter??

Posted by amy | Report as abusive

What matters is who is going to up the national debt, McCain won’t have any problem adding to the “credit card” of the US, whereas Obama will be more conservative.

Posted by M. Hazard | Report as abusive

It’s all psycological:

This week on Fox News, Neil Cavuto asked Sen. John McCain (R-AZ) about the worth of rescinding an 18-cent gas tax as prices at the pump escalate this summer. McCain responded that “a lot of our problems today” are “psychological.”
Transcript:
Cavuto: I think you know, Senator, we’ve been in and out another all time high for oil and gas prices today. Many are sort of jumping on your proposal to nix the federal gas tax — a little north of 18 cents — throughout the summer. Are you afraid though, by the time we get to the summer, we’ll be up that much and more in gas prices?
McCain: I’m very concerned about it, Neil. And obviously the way it’s been going up is just terrible. But I think psychologically — and a lot of our problems today, as you know, are psychological — the confidence, trust, the uncertainty about our economic future, ability to keep our own home. This might give them a little psychological boost.
Let’s have some straight talk, it’s not a huge amount of money. But it might be nice to be able to save a few bucks and maybe buy something else the next time that they have to fill up their gas tank and say, “You know I’m going to be able to afford that little expense now.” A little psychological boost. That’s what I think it would help. But we also, I think, we need to stop competing for a limited supply, as far as the Strategic Petroleum Reserve is concerned. Let’s just stop buying that as well. But it might be a nice thing to happen.

Posted by Jen | Report as abusive

Cindy McCain behaves like a senior Paris Hilton. Spoiled and a brat. She inherited her current job and is an heiress to a brewery…. She was born with a golden spoon and does not know how to be reasonable with her household finances…. She is smiling all the way to the bank because the coverage of Tim Russert’s death has overshadowed this revealing and visible side of John McCain. He cannot control his credit debt so as his wife’s, so how can he control our tax money? How will he finance broken leeves instead of stashing trillions to Iraq? Will he be reasonable in government expenditure? CHARITY BEGINS AT HOME.

Posted by Angie | Report as abusive

WHY YES TO MCCAIN & NO TO OBAMA …
It’s not that McCain was just a POW … it’s the fact that he was offered an early release by the enemy, after being tortured for 3 years. But, because John McCain had the honor, integrity, character, and love of America, he chose to refuse a release that would be earlier than his fellow prisoners, resulting in his being imprisoned and tortured for an additional 2 1/2 years. In addition to that, he also served this country as a senator for 20 years. What has Obama done? … He was a community organizer, who increased voter registration … then, he took away the people’s votes by disqualifying his opponents on technicalities. Next, he won the senate, due to a scandal by his opponent, Senator Jack Ryan. Furthermore, Obama is a junior senator, with no experience, who has spent half of his time in office running for President.

Posted by Howard | Report as abusive