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Stacey Abrams: My $200,000 Debt Should Not Disqualify Me For Governor of Georgia
 Interesting spin: "Vote for me to run this State, even though I can't run my own finances"[Fortune] "One of the traditional rites of passage for political candidates is the revelation of financial status–a catechism-like recital of money mistakes made and debts owed. As a candidate for governor of Georgia, I have spent the past few weeks dealing with the fallout from my personal financial disclosure report. As everyone following the race now knows, I owe the IRS over $50,000 in deferred tax payments (I am currently on a repayment plan) and hold more than $170,000 in credit card and student loan debt. I am in debt, but I am not alone. Debt is a millstone that weighs down more than three-quarters of Americans. It can determine whether we are able to run for office, to launch a business, to quit a job we hate. But it should not‐and cannot‐be a disqualification for ambition. However, ambition without qualifications = political hack I grew up one of six children with working class parents in the Deep South. My mother was a college librarian and my father worked in a shipyard. I never saw them balance a checkbook, but they kept a roof over our heads and got all six of us into college. I went on to Yale Law School, and eventually landed my first law firm job, where I made $95,000‐three times what my parents made, combined. But despite earning nearly six figures, my financial situation was fraught. I had racked up student loans, and throughout college and beyond, I'd swiftly turned every credit card application into those magical slivers of plastic that allowed me to pay for daily necessities. I finished my higher education deeply in debt and with seven years of bad credit in my future. Using my law firm salary, I started to pay down my credit cards and make student loan payments." Of course, she plays the race and gender cards Posted by: Frank G 2018-05-27 |
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