John McCain, credit-card debt victim

Responding to the news that John McCain and his wife owe AmEx $500,000 (presumably spent on the campaign trail), Jon Taplin writes,

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 Obamas' 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.

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