The McCain's Cash Flow

I could retire on the McCain's monthly credit card balance. Heck, I could retire on less than that. It's not such a big deal that they're rich (although it is slightly annoying that some people can just throw around their money without a care) but it's a big deal if they can't manage their personal finances.

Politico: While Cindy McCain, her dependent children and the trusts and companies they control made as much as $29 million — and likely substantially more — from her family’s business interests from 2004 through last year, data from the Internal Revenue Service, the U.S. Senate, the U.S. Office of Government Ethics and the Center for Responsive Politics also reveals that they spent $11 million purchasing five condominiums for the family, hired additional household help and racked up progressively larger credit card bills almost every year.

Their credit card bills peaked between January 2007 and May 2008, during which time Cindy McCain charged as much as $500,000 in a single month on one American Express card and $250,000 on another, while one of their two dependent children had an AmEx card with a monthly balance as large as $50,000.

A campaign aide who did not want to be identified discussing the McCains’ personal finances stressed that the credit card balances are “not ongoing debt.”

The aide pointed out that the disclosure forms on which the credit card liabilities were listed ask respondents to indicate ranges for the largest balances owed during the reporting period.

“It has been the McCains’ practice and procedure, as previously indicated, to pay off the balance of credit cards on a monthly basis, so they do not carry credit card debt,” the aide said in a statement.