John McCain’s new Senate Financial Disclosure Form, look like he was either running his campaign off the American Express Platinum Card his wife gave him, or they have one hell of a high living lifestyle.
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.
I know what American Express charges for interest on a Platinum Card. A fiscally responsible household should probably sell some of the million of Anheuser-Busch stock they own and stop paying that 17% ARP on $500,000 worth of Amex charges. There are some other stark contrasts between the McCains and the Obamas. The McCains have a net worth around $40 million, almost all of it from Cindy’s holdings. The Obama’s net worth is closer to $4 million, most of it earned from Barack’s two recent books. Instead of going into debt they have managed to put $250,000 in a college savings account for their two daughters.
McCain’s books don’t seem to do very well. Whereas Obama earned $ 4 million in the last year in book royalties, McCain only earned $176,488.