Um, not exactly

Glenn Reynolds notes that the McCains have $100,000+ in credit card debt: "That should enhance his credibility on the deficit."

Fair enough, I see the irony as well.

Meanwhile, over at Huffington Post, Seth Colter Walls is having a moonbattathon based on... his own ignorance of charge cards:

With news of the McCain family's six-figure credit card debt cropping up today, its not too hard to imagine a little light-hearted chuckling among middle class folks getting a look at the spendthrift habits of elites. As The Hill reported this morning, based on disclosure reports released today, Sen. John McCain and his wife Cindy owe at least $100,000 to American Express, with a "dependent child" also holding a card with a balance between $15,000 and $50,000.

So what? I travel frequently on business. I can tell you from personal experience that it's very easy to rack up $20-30 grand in a month from hotels, car rental, airfare, etc., and I don't have an enterage following me 24/7. The McCains are campaigning for the Presidency, while I'm sure the campaign takes care of some expenses directly, the fluid nature of campaigning would make using a charge card (and getting reimbursed later) necessary.

Seth continues:

But not all credit card debts are created equal. In fact, according to a prior disclosure form filed in May that was provided to The Huffington Post, a significant amount of the McCains' credit card debt is being held by American Express at an interest rate of zero percent -- making their debt a lot less like the costly credit card pitfalls facing many Americans and a lot more like the big sweetheart loans that can get national political figures in hot water.

Wow - some scoop you've got there, Seth - you've uncovered what most folks already know. The most common American Express card (indeed, the only up until a few years ago) is interest free. Not just to the rich, but to everyone.

Besides, if the McCains were getting sweetheart deals, what use would they have for a joint card at 25.99%?

This one made me laugh out loud:

Zero-percent credit card interest rates are not exclusively for the rich or well-connected, of course. But the most common offers of that kind are often capped at a few-thousand dollars and shed their zero percent rate after six to nine months

Um, no, Seth. Even a standard Gold card has no limit and no interest unless you pay late - a category which the McCains apparently fall into. Don't take my word for it, see for yourself.

There's so much low hanging fruit to pick when it comes to criticising McCain - is this really the best they can do?