John McCain is a debt addict

John McCain and his wife, Cindy, have just released their Senate Financial Disclosures

http://www.nytimes.com/2008/06/14/us/politics/14disclosure.html?_r=1&adxnnl=1&oref=slogin&adxnnlx=1213719453-ooHy+UQsLIo2G7EQs6+DXQ

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.
Another charge card, held by what was described as a “dependent child,” had also accumulated debts of $15,000 to $50,000. In addition, a credit card held jointly by the couple was carrying $10,000 to $15,000 in debt, the filing indicated, at a stiff 25.99 percent interest rate.

Here's the confusing part

In other filings, the McCains have reported total household assets of $24.6
million to $39.5 million. In recently releasing a summary version of her 2006 tax return, Mrs. McCain reported income that year of more than $6 million, some $300,000 of which was derived from her salary as the chairwoman of Hensley, which was founded by her father.

Why in the world would you carry so much credit card debt at high interest rates when you easily have the assets and income available to pay them off. By my calculations, they could save anywhere from $52,000 - $130,000/year in interest charges by paying those cards off! American Express must LOVE the McCains!

That's almost John McCain's gross salary from the Senate (his salary is $167,000/year)! Shoot, after taxes they probably spend all of John's net salary and net pension (from the Navy) on interest payments on these two credit cards! And somehow, $6 million in income isn't enough to keep from accumulating large amounts of debt on credit cards!

This is just one more big question mark in regards to someone who is running for the most powerful office in the land. How can he run as a fiscal conservative when he handles his personal finances so recklessly? This just reeks of irresponsible spending but fortunately they have enough in assets to bail themselves out if they get into trouble.

I can't say the same of most Americans who find themselves deep in credit card debt.