Now I must admit I’ve always seen Scott Walker as a slimy Koch brothers sock puppet. He tries to pass himself off as a fiscal conservative. But in his personal life not so much, Scott Walker Is Paying 27.24 Percent Interest on $10,000-Plus in Credit-Card Debt.
The Republican presidential candidate has cast himself as both a fiscal conservative leader and a penny-pinching everyman on the campaign trail, often touting his love of Kohl’s, the discount department store. His newly published financial disclosure shows that, like many Americans, Walker has few assets, some major debts (including more than $100,000 for student loans for his children), and a punishing interest rate on his credit-card obligations.
Walker incurred one credit-card debt with Barclays in 2014, according to the financial disclosure form, and owed between $10,000 and $15,000 at a 27.24 percent interest rate as of July 2015. Most financial advisers recommend shedding credit-card debt as quickly as possible, especially when paying interest rates that high.
I suppose this in a sense makes Walker an “everyman” but the reality is he has been in government his entire life and never held a real job. But he’s not alone
His carrying of high-interest credit-card debt makes Walker the second major candidate with some eyebrow-raising personal finances. Earlier this year, rival Sen. Marco Rubio, also among the less-well-off politicians in the field, reported cashing out one of his retirement accounts, another move not recommended by many financial professionals.
Now if the Republican “lawmakers” succeed in shutting down the Federal Government in September and I don’t get my Social Security I too may be forced to run up my credit card debt to pay the mortgage and eat. But then I have never claimed to be a fiscal conservative.
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Copyright 2015 The Moderate Voice