Georgia: Dem running for Governor has massive debt problems but she wants to be in charge of your money – IOTW Report

Georgia: Dem running for Governor has massive debt problems but she wants to be in charge of your money

DC: Stacey Abrams is vowing to improve Georgia’s economic standing, but she believes her struggles with massive personal debt do not reflect poorly on her fiscal responsibility.

Georgia’s Democratic gubernatorial nominee, Stacey Abrams, ended her three-day “Jobs for Georgia” tour Saturday with a stop in the small town of Macon. During a town hall, she offered a few examples of her ambitious economic agenda.

Among many ideas, she told local voters she hopes to create a $10 million investment fund to boost small businesses and another $40 million fund to spur job growth. Abrams also proposed converting abandoned warehouses in the area into advanced hubs for solar panel installations.

Abrams claims such investment is necessary to improve job growth in Georgia. However, her critics argue she supports expensive, big government solutions. More notably, Abrams has taken flak for her massive accumulation of personal debt.

The former state representative has acknowledged that she owes more than $200,000 in student loans, credit card debt and IRS back taxes.

“I did not understand that those magical slivers of plastic that I was getting in in college, a $100 purchase was going to cost me like $3,000 over the next seven years,” Abrams stated in an interview with Yahoo Finance. “And that if I didn’t pay the bill every month it was going on some report that was going to follow me even after I had a great job.”

Abrams owes back taxes amounting to $40,201 for 2015 and $13,851 for 2016. She owes $96,512 in student loan debt and another $77,522 in credit card debt spread over nine different accounts. In total, she is about $228,000 in the red. This number is actually higher if you count her $178,500 in real estate debt and her $4,434 car loan.  MORE

18 Comments on Georgia: Dem running for Governor has massive debt problems but she wants to be in charge of your money

  1. Not a very impressive resume if your running for governor. Over 400K in personal debt is a indication that the lady has a spending problem, an inability to manage a budget and a history of purchases that she had no business making. Typical democrat candidate with absolutely no sense of priorities.

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  2. Keep in mind, 400k in debt if you are a trillionaire with businesses is nothing. 400k in debt if you are living in a shack in Georgia (by comparison) is a problem of manatee proportions.

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  3. Stacey Abrams is doing the only thing she could do…..

    seeing that she’s drowning in $400 thousand of debt….

    GET ELECTED TO PUBLIC OFFICE…..

    and GRIFT YOUR WAY TO THE MILLIONAIRE CLUB….!!!!

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  4. $10 million for small business investment, and $40 million to spur job growth. Neither of which expenditure will be needed in a Trump economy. Just slush funds to dole out to cronies.

    I’m sure she’s a nice lady, but she shouldn’t be anywhere near OPM. Unless she’s taking my check at the DMV. That’s more her speed.

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  5. She is halfway there already! She has spending down to a science now she just needs to come up with 15-20 new tax ideas and the Dems will run her for President for life!

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  6. Like most people that cause their own impoverishment, they look for a bigger cash cow to milk and leave a trail of tears behind in the process.

    I get why only land owners could vote way back when.

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  7. This reminds me – Where has Billy Fuster been since the 2016 election?

    He would advise her to not pay the taxes since it’s voluntary anyway.

    I suspect Billy was not on the up & up here. He was pissed no one here was talking about commuting violence against Muslims at a Muslim event in Garland TX.

    Encouraging us to not pay our taxes + encouraging us to commit violence?

    Provocateur

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