This obsession with knowing every minute detail about public figures has gone beyond the public’s so-called ‘right to know’. During the Republican primary, I found it utterly ridiculous that we spent a week talking about Mitt Romney’s tax return.
Who cares? As long as he paid his taxes and filed them on time, what does it matter?
That being said, the Wall Street Journal took a closer look at President Obama’s recent tax return filing and found something that perfectly epitomizes the president’s sincere and genuine failure to understand simple financial responsibility.
A forensic accountant named Steven Bankler noticed something startling about the Obama family: they’re paying a higher rate on their 30-year mortgage than they’re earning on their investments, despite having plenty of money to pay down their house and save thousands on interest.
“They are doing banking in reverse: borrowing at a high rate and lending at a low rate.” Paying down the mortgage is the equivalent of making 5.625% on this money, he adds.
So let’s see, his borrowing and his lending don’t add up. Is this sounding familiar?
Anyone with half a brain can see that if you’re going to lend on one hand and borrow on another, and if you’re paying more in interest than you’re making, there’s a problem.
Knowing what we know about how the president handles his household finances, can it be at all surprising he takes the same approach to federal finances?
He has no problem with debt, even if he could significantly reduce the cost while increasing his net gains by simply paying down the debt.
Apparently at home, just like at work, the president has no interest (no pun intended) in doing so. How can we expect a man incapable of properly running his own financial household, to run the financial household of our nation?
The article goes on to explain that Obama’s right-hand man Joe Biden, in addition to taking the $226,000 vice president salary, is also taking social security.
At a time when President Obama is urging the rich to pay their so-called “fair share” his VICE PRESIDENT, who happens to fall into that category of the rich, is taking social security because his expenses are apparently so high.
These are the people running our country. The people you elected. People who can’t manage their own finances. How does the leader of the free world not get better financial advice?
It’s pretty clear he surrounds himself with people who have no clue because anyone who ever took a business class – you don’t even need a finance degree to get this – knows that what he’s doing is simply irresponsible.
More than than, the most important adviser to him is a man who apparently can’t live on a quarter million dollars a year, further proving Obama’s hypocrisy when it comes to spending and deficits.
I used to think he knew what he was doing and just didn’t care that it had such dire consequences on the country, or even worse, that he wanted those consequences. Now, I’m convinced he truly doesn’t know any better.
I’m not sure which is worse