Was Obama A SubPrime Borrower?

by Dual Income No Kids on May 12, 2009 · 0 comments

Hi All,

I’m mad busy this afternoon, but wanted to draw your attention to an opinion piece by by Ricard Lee at the NY Daily News. In it he has a moderately clever analysis of President Obama’s finances before he became president. The results of the analysis suggests that Obama’s wealth was largely funded by drawing on home equity before the President was elected to the U.S. Senate.

The open question is what it means that Obama drew on his home equity. Lee argues it means that the president was a debt addicted spend-a-holic. However, if you ask me, it just suggest that Barack and Michelle were basically average upper class Americans. Could he have found better ways to find his income stream? Or could he have spent more time and effort building wealth with what he had? Of course, but couldn’t we all?

NY Daily News.



Get Your FREE Ebook


DINKS (Dual Income No Kids) Finance focuses on personal finance for couples. While by no means financial experts, we strive to provide readers with new, innovative ways of thinking about finance. Sign up now to get our ebook, "Making Money Tips for Couples" FREE.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: