Author Topic: Georgia gubernatorial candidate has $77.5K credit card debt!  (Read 3206 times)

swampwiz

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https://finance.yahoo.com/news/stacey-abrams-im-running-governor-200000-debt-191600455.html

And it seems that her opponent has welched on a personal debt of $500K!
« Last Edit: July 27, 2018, 09:16:05 AM by swampwiz »

slugline

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #1 on: July 27, 2018, 10:04:13 AM »
If she's being truthful about where the money went, I don't find her story to be shameful or comedic.

Just Joe

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #2 on: July 30, 2018, 08:50:01 AM »
To me - definitely liabilities.

JLee

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #3 on: July 30, 2018, 08:57:44 AM »
Debt due to family cancer treatment? I don't see the problem here, other than how our health care system can bankrupt people.

acroy

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #4 on: July 30, 2018, 09:25:56 AM »
Paying the price of poor choices.

I'm a red panda

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #5 on: July 30, 2018, 10:37:37 AM »
Paying the price of poor choices.

Yeah, her Dad getting cancer was a terrible choice. Why would anyone pick to do that?

Just Joe

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #6 on: July 31, 2018, 08:21:08 AM »
Okay- my speed reading impacted my comprehension. Yeah sickness happens. Still not convinced that they couldn't optimize their budget to financially recover faster.

I'm a red panda

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #7 on: July 31, 2018, 08:55:32 AM »
Okay- my speed reading impacted my comprehension. Yeah sickness happens. Still not convinced that they couldn't optimize their budget to financially recover faster.

I agree. But I think a candidate with a limited amount of debt is probably going to better understand the needs of the constituents than one who has millions of dollars in family money.

Mississippi Mudstache

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #8 on: July 31, 2018, 09:17:14 AM »
Well, at least her opponent seems like a real winner.

Life is full of compromises. I'll be eagerly casting my vote for a woman who has made sub-optimal decisions regarding her personal finances this fall.


CupcakeGuru

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #9 on: July 31, 2018, 11:34:24 AM »
Well, at least her opponent seems like a real winner.

Life is full of compromises. I'll be eagerly casting my vote for a woman who has made sub-optimal decisions regarding her personal finances this fall.


Same here!

Just Joe

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #10 on: July 31, 2018, 11:54:39 AM »
If I lived in that district I'd vote for the lady too. The GOP theme is so over played. The GOP are playing the same tired tropes here too in my state. 
« Last Edit: July 31, 2018, 12:00:02 PM by Just Joe »

talltexan

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #11 on: August 01, 2018, 06:38:01 AM »
As easy as balance transfers are these days, she could be paying effectively the same rate on that debt as we are on mortgages.

gaja

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #12 on: August 01, 2018, 07:05:22 AM »
It sounds like she is admitting that she made a lot of mistakes, and she wants to make sure kids in her area get more knowledge on how to avoid making the same mistakes. US elections are not my monkeys nor circus, but generally I would much rather vote for someone who has made honest mistakes and try to fix them, than someone who either has lived a life so sheltered that they have never done anything stupid, or are lying through their nose and ears.

smoghat

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #13 on: August 17, 2018, 06:53:12 AM »
I had $60,000 of debt once. Now I have $6 million+ assets and am FIREíd. She has a better reason than I did (moving, stupid purchases in our 20s). What bugs me is the failed real estate developer in the White House who has been bankrupt so many times (never been bankrupt... been on food stamps, but I donít see that as shameful, it was prior to our antimustachian debt slavery and we were both unemployed). He canít seem to understand that the countryís budget matters!

talltexan

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #14 on: August 17, 2018, 08:08:54 AM »
There is a concern that being heavily in debt can make the holder of public office subject to blackmail. That is why we ask them to disclose these things.

Being heavily in debt can also provide a clue as to the judgment and desperation of the person should she be placed in certain situations. But it should be placed alongside other evidence, such as the person's record of service and statements about policy positions.

When I was considering my vote in the GOP Presidential primary in 2016, Marco Rubio and Scott Walker were making lots of headlines for bad financial decisions. Walker's included managing his campaign so poorly that he ran out of money before I could even vote for him. Fortunately, Rubio also had a record as a US Senator (and Florida State House), and those weighed much more heavily in my vote than his financial missteps.

smoghat

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #15 on: August 17, 2018, 12:55:52 PM »
Yup, itís one thing to be in debt to Capital One but Russian oligarchs? Iíd rather avoid those kind of debts...

marty998

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #16 on: August 17, 2018, 07:10:11 PM »
I had $60,000 of debt once. Now I have $6 million+ assets and am FIREíd. She has a better reason than I did (moving, stupid purchases in our 20s). What bugs me is the failed real estate developer in the White House who has been bankrupt so many times (never been bankrupt... been on food stamps, but I donít see that as shameful, it was prior to our antimustachian debt slavery and we were both unemployed). He canít seem to understand that the countryís budget matters!

it's strategic bankruptcy. You strip the assets of your company for yourself, then declare bankruptcy and don't pay your suppliers, contractors and staff their entitlements.

Rinse and repeat after every deal.

There's supposed to be laws against it (they are called phoenix laws here), but we have a puppy for a corporate watchdog here in Australia, so they are rarely enforced.

MrUpwardlyMobile

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Re: Georgia gubernatorial candidate has $77.5K credit card debt!
« Reply #17 on: August 17, 2018, 08:29:43 PM »
Okay- my speed reading impacted my comprehension. Yeah sickness happens. Still not convinced that they couldn't optimize their budget to financially recover faster.

You read fine. Her past due tax debt is allegedly from cancer payment, the credit card debt was unexplained.