Monday, February 11, 2008

Personal finance management: Obama edition

In this glowing WSJ profile of Michelle Obama, one line towards the end of the article drew my attention:
Sen. Obama's keynote speech at the 2004 Democratic convention propelled him to national celebrity. His first book became a best seller and he got a signing bonus for a second, allowing the couple to pay off their education and credit-card debts and buy their first house, a three-story, $1.65 million brick home in Chicago's Hyde Park.
To me, this is just a bit insane. From paying off student loans to buying a $1.65 million home in just one year?

At this point, it does not matter of course. A few speeches in the right places can pay for the house. Yet, shouldn't the country expect better financial acumen from a President-to-be?

You mean if he hadn't had a best seller, he would still be paying his student loan? That would have been funny. An American President with student loans. Of course the general public is OK to be neck deep in debt.

Debt's the way to go.
Oh yeah, that's the other issue... how the hell did he carry his college debt into his 40s?
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