Personal Finance of the Candidates

There are many important issues facing our next President - terrorism, war, health care, energy independence, climate change - but few more important than the economy of our nation. From balancing the budget to setting an example for Americans, where do the candidates stand?

I can't tell you a lot about macro-economics (though I'm sure there are plenty of other blogs that can), but AP has some tasty tidbits on the personal finances of our two major remaining candidates - Barack Obama and John McCain. Here are the most interesting parts:

Sen. John McCain, R-Ariz

  • Earned income: $341,708.
  • Major assets: Checking account, $15,000-$50,000. Two bank accounts held with his wife, $2,000-$30,000.
  • Major sources of unearned income: Navy pension, $58,358.
  • Major liabilities: Credit card debt held jointly with his wife, $10,000-$15,000.

Sen. Barack Obama, D-Ill
  • Earned income: $4.3 million.
  • Major assets: Northern Municipal Money Market Fund, $1 million-$5 million; U.S. Treasury notes, $500,000-$1 million.
  • Major sources of unearned income: Interest from money market fund, $15,000-$50,000.
  • Major liabilities: None.

We haven't made up our minds as to who we are voting for yet, nor are we ready to endorse one over the other. But this definitely looks like advantage: Obama. Why on earth would someone like McCain have $10-15k in credit card debt? They have the money to pay it off. It makes no sense. For his years in Washington, he doesn't seem to have much to show for it, at least according to this report. Barack, on the other hand, has made some sound investments and has done quite well for himself. I'm particularly fond of this part:
Major liabilities: None.
i don't want to make more out of this than it is, but this sneak peak into the finances of the two leading candidates could give some insights as to their future economic policies. How would they handle our tax money? Look at how they handle their own money.

How important do you think this issue is in selecting our nation's leader - independent of the candidates?


Blog Widget by LinkWithin