If President Obama needs to find a real life example to use when decrying the reckless spending, overborrowing and inflated housing values of the last 8 years, all he needs to do is contact his accountant. A New York Daily News analysis of Barack and Michelle Obama's finances from 1999 through 2005 shows that the Obamas were living off credit and borrowed money.

Read the full New York Daily news article here.

They owed about $240,000 on a home they purchased for $159,250. If Barack Obama didn't begin to receive royalties for his books in 2005, they would have clearly suffered from the financial downturn. Perhaps, they would have needed a bailout.


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1 Response to 'Barack and Michelle Obama - Poster Children for the excesses of the last 8 years'
  1. GJ MR. CHICAGO
    http://landofdafree.blogspot.com/2009/05/barack-and-michelle-obama-poster.html?showComment=1248390941011#c3021051091792112984'> July 23, 2009 at 6:15 PM

    ALL of Washington are shameless idots who will stop at nothing to get what they want-money