What’s your credit score, President Obama?

The presidential race is over, and now we have a new president.  But I would like to go back a few months and ask the front-runners, Senators Obama and McCain, about their financial history.  Sure, I’d like to see tax returns from the last five years, but more than that I’d like to see credit reports and scores while we’re at it.  I suppose how well each politician manages his personal debt will be a good indicator of how well he will manage this country’s massive debt.  

Let’s see. There were McCain’s eight properties and corresponding mortgages.  In this economy, that would be a major red flag.  He’s got a lot of debt, and amount of debt counts for 30% of one’s credit score.  It seems like we should deduct 50 points or so.  But look on the bright side. Senator McCain is really old; his credit history must be around 50 years long.  Such a long history is a good thing if he’s been responsible.  He seems pretty responsible.  Let’s give him back 25 points since history is only 15% of one’s credit score.    

Next is President Obama.  I imagine times were really hard when the girls were born.  At the same time, those massive student loans from Harvard were sucking up money faster than a bad dot com.  Oh, don’t forget Michelle’s huge loans from Princeton and Harvard too.  Perhaps President Obama was late a few times on some bills like the car payment on his old Dodge Neon. Payment history accounts for 35% of one’s credit score, so let’s deduct 65 points.  But now he’s got more money than he could ever imagine, so I guess he’s paid off all those loans by now. After selling millions of books and winning America’s top job, he doesn’t have to worry about money anymore.  I suppose he could also call the credit bureaus and request a favor, a presidential pardon of another sort.  He recoups 100 points.  

Perhaps my idea is a bit crazy, but if I have the opportunity again in the future to ask a presidential candidate about his credit score, I will perk up and say with confidence this simple and revealing question: “What’s your credit score?”  Can you imagine the shock on everyone’s faces at a formal press conference?   

Let’s not stop there. Perhaps all members of congress should reveal their credit score if we ask for it. What do you think?  

Picture Caption: President Obama and me at a fund-raising event I co-hosted at the start of his presidential campaign in March 2007.  The event raised over $250,000 for his campaign. 

Comments

[arizona Bill]

I would like to see all the folks in washington have a nice IRS full audit to see what they forgot to report or pay. We might see some real reform then.

Kevin I just love this page.

[Sharon Barlow]

Asking those in power to reveal their credit scores would be very revealing, indeed. It would be a useful indicator in deciding where our votes should go. Way to go, Kevin!

[Kevin D. Johnson]

Yes, Holly. It was an exciting time and wonderful opportunity. Over the past two years, I have had the opportunity to talk with him a few times. The fund-raiser was for his presidential campaign which had just started. It was a major success.

[holly]

Kevin,

Great Photo...impressive that you were able to obtain Obama for a fundraiser. May I ask what the proceeds of the fundraiser went to?

[Kumar]

If politicians were to reveal their credit scores then we would have a major turn around on how credit scores are assessed and it will probably be more consumer friendly. The average Joe would also pay more attention to their individual credit score. BTW, congrats on your pic with Obama!