tag:blogger.com,1999:blog-7905515.post7906302008183352882..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: Obama The Debt MeisterEric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-7905515.post-69952220468704458372009-05-15T14:32:00.000-05:002009-05-15T14:32:00.000-05:00"Sameer said...
Obama knew he would be presid..."Sameer said...<br /><br /> Obama knew he would be president. Or at least senator. The fix was already in."<br /><br />How can you "know" this 8, or even 5, years ahead of time.<br /><br />LOL!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-11364289409223268842009-05-15T10:18:00.000-05:002009-05-15T10:18:00.000-05:00Sorry, 250k worth of house debt when you are makin...Sorry, 250k worth of house debt when you are making 250k a year just doesn't seem that egregious. <br /><br />Staying fit is a business expense when you are in politics or the executive suite and Michelle was both. <br /><br />Typical subprime? Subprime was 60k a year income and 600k house debt with an exploding payment when the negatively amortizing debt hit 125%of loan to value. <br /><br />I was expecting honest criticism and I see a smear. One heloc does not equal sub-prime.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-81776962192457394072009-05-15T08:46:00.000-05:002009-05-15T08:46:00.000-05:00Obama knew he would be president. Or at least sena...Obama knew he would be president. Or at least senator. The fix was already in.Sameerhttps://www.blogger.com/profile/01632200421272528636noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-52027930815104166012009-05-14T18:34:00.000-05:002009-05-14T18:34:00.000-05:00Consumption smoothing is for when you are young, i...Consumption smoothing is for when you are young, in med school or are an intern, and figure you'll be making doctor money later, so you go into debt. Or for when you are in law school or just out and clerking for a judge, same thing.<br /><br />But the Obamas were running up this debt and refinancing their home in years when their income was >$250k, and they were in their 40s, how much higher were they assuming it would go to smooth? <br /><br />And the US gov't, facing the huge Medicare/ Social Security hit coming in about 20 years, sure as heck shouldn't be consumption smoothing today. <br /><br />But well, as Michelle says, "magic beans" worked for them, maybe they'll come through for the nation too.Jim Glasshttp://www.scrivener.netnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-29127406495087477772009-05-13T16:38:00.000-05:002009-05-13T16:38:00.000-05:00Yeah it is hard not to see this as consumption smo...Yeah it is hard not to see this as consumption smoothing. It seems perfectly reasonable for them to expect higher income in the future.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-61132014499640383092009-05-13T11:46:00.000-05:002009-05-13T11:46:00.000-05:00Sounds like consumption smoothing to me. Perfectl...Sounds like consumption smoothing to me. Perfectly reasonable at the time for Obama to assume he was going to become much wealthier later. (I can't stand the guy either, btw.)Anonymoushttps://www.blogger.com/profile/00861356062239395510noreply@blogger.com