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The Obamas were in debt -- and now so are we
American Thinker ^ | April 10, 2009 | Richard Henry Lee

Posted on 04/10/2009 2:22:16 PM PDT by happygrl

An examination of the Obama’s finances show that they were living off lines of credit along with their salaries until 2005, when the book royalties came through and Michelle received her astonishing 260% pay raise at the University of Chicago.

This reexamination of the Obama’s finances was triggered by a Chicago Tribune story on whether the Obama’s should refinance their home in Chicago. In addition, it is tax time with tea parties and that is another good reason to take another look.

As we first reported here last year, the Obamas received a better mortgage rate from Northern Trust than the market rate when they bought their mansion in the upscale Kenwood area of Chicago with the aid of now-convicted felon, Tony Rezko. The Tribune story asked mortgage experts if the Obama’s should refinance and the answer is “no”.

But the public record of their spending shows that they had to regularly take out lines of credit to pay their bills. As reported during the campaign, Michelle Obama complained in hard hit Ohio: I know we’re spending — I added it up for the first time — we spend between the two kids, on extracurriculars outside the classroom, we’re spending about $10,000 a year on piano and dance and sports supplements and so on and so forth,”

The Obamas were living beyond their means for several years according to an examination of their tax records and their mortgage documents.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: corruption; credit; deadbeat; debt; obama
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To: katiekins1
IMO, he will not last his full term.

We can't impeach him until we control the House and Senate.

But I think he and Michelle may discover a "medical problem" that will require him to quit.

I think he will become so stressed by the weight of the presidency, that he will bail. He is already showing signs that he can't handle the pressure.

21 posted on 04/10/2009 3:20:53 PM PDT by happygrl (It's time to Party like it's 1773.)
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To: what's up
Also, they could have had stock investments.

and if they did, what did they do with them before the crash?

22 posted on 04/10/2009 3:23:58 PM PDT by Bellflower (The end of this age is near but the beginning of the next glorious one is coming!)
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To: happygrl

...with the aid of now-convicted felon, Tony Rezko...”
Bears repeating. :)

Yes it does.

Ditto


23 posted on 04/10/2009 3:30:01 PM PDT by Vendome
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To: happygrl

try reading Tom Roeser at tomroeser.com

He knows a lot about the Chicago Daley Machine and Obama.


24 posted on 04/10/2009 3:46:44 PM PDT by victim soul
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To: happygrl
Lol! The pressure is on his brain. Let me have the pleasure to explain my analysis. He has purple lips, a visual diagnosis predicts,a lack of oxygen to his brain. (Cause) public strangulation brought on by revolution and discussed. (RADICAL) intervention ASAP! ; ) Barry is a classic case of on going chain smoking and narcotics. IMO, soetoro is terminal. I predict he has between 1 to 3 months.
25 posted on 04/10/2009 3:46:50 PM PDT by katiekins1 (I Bow to No One)
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To: happygrl

According to reports Joe Biden has a net worth of $150K. Neither of them can manage their own money, let alone a country.


26 posted on 04/10/2009 4:00:42 PM PDT by 1010RD (First Do No Harm)
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To: happygrl

Yeah, they probably were flying pzza chefs into Chicago like they are at the WH. Only difference is they are doing it on our nickel.

Totally irresponsible.


27 posted on 04/10/2009 4:03:21 PM PDT by dforest
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To: happygrl
I think he will become so stressed by the weight of the presidency, that he will bail. He is already showing signs that he can't handle the pressure.

Nah, they'll just keep him tucked away and Michelle will get to play Edith Wilson the sequel.

28 posted on 04/10/2009 4:09:05 PM PDT by Tijeras_Slim
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To: what's up
They seem to be the types who would have been in on speculation. CD's would be too conservative an investment for them.

If they had a lot of stocks, they'd probably have substantial dividend income that the article would have mentioned. Let's face it. These folks were near-deadbeats, living from paycheck to paycheck. Barry was literally the sort of guy who had trouble renting cars because his credit cards were always maxed out. He's admitted that. Now, he's going to run the country's finances the way he ran his own.
29 posted on 04/10/2009 4:20:40 PM PDT by irishjuggler
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To: happygrl

PING!!!


30 posted on 04/10/2009 4:22:11 PM PDT by Doc91678 (Doc91678)
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To: katiekins1

"Why this, Allah? Why now? Haven't I been a loyal servant to you?"

31 posted on 04/10/2009 4:34:40 PM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: proudpapa

In three years the Obama’s will move to Baltimore and Michelle will run for the Senate...{sarc.}

Baltimore can have them.................PLEASE! LOL


32 posted on 04/10/2009 4:37:32 PM PDT by blueyon (It is worth taking a stand even if you are standing alone!)
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To: happygrl

To read this, one would almost think the affirmative action couple felt entitled to the good life . . .


33 posted on 04/10/2009 6:31:53 PM PDT by Think free or die (The problem with socialism is that you eventually run out of other people's money - M.Thatcher)
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To: victim soul
Thanks for the link.

I will take a look at it.

34 posted on 04/10/2009 8:00:05 PM PDT by happygrl (It's time to Party like it's 1773.)
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To: Think free or die

And now they “need to get out of the White House.”


35 posted on 04/10/2009 8:17:34 PM PDT by happygrl (It's time to Party like it's 1773.)
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