Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Obama Getting Rich Off U.S. Debt

May 18, 2011 by  

Obama Getting Rich Off U.S. Debt

Recently, the White House released the financial disclosure forms for President Barack Obama and Vice President Joe Biden. The form shows that large portion of the President’s wealth is seated in Federal debt.

CNN’s White House blog reported, “The President and first lady Michelle Obama had assets valued between $2.8 million and $11.8 million in 2010. And between $2 million and $10 million of their assets are invested in super-safe U.S. Treasury securities, according to the disclosure form. That’s up from $1.5 million to $6 million reported invested in Treasury notes and bills in 2009.”

Because the form uses broad ranges to report the President’s income (a result of each asset being reported individually), it is impossible to tell exactly how much the President is profiting from the United States’ debt.

The President and first lady, however, are not in debt.

The forms are a requirement of the Ethics in Government Act of 1978, which requires Federal officials in the upper echelons to publicly disclose their personal financial interests, to prevent conflicts of interest.

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Facebook Conversations

Join the Discussion:
View Comments to “Obama Getting Rich Off U.S. Debt”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

  • s c

    Hmmmm. This is a good time to apply progressive “logic.” All rich people are bad (right?). All ‘Republicans’ who are wealthy are bad (right?). All corporation types are bad (right?). ANYONE who’s rich but not a progressive is beyond BAD (right?).
    Ergo, now you KNOW what kind of a prez we have. Obviously, money is an obsession with this guy, so he was a liability since the day he found his way into the White House. Some of you will think I’m joking.
    I’m NOT. This is progressive logic. If Herr Obummer had any common sense or standards for his behavior, he’d RESIGN. But, you know how that goes. Just another ultraprogresive, freedom-hating (but somehow wealth-LOVING) yahoo. And yet people like Herr Obummer has the gall and the arrogance to wonder why conservatives have NO use for him. Go figure.

  • Jeep

    “I mean, I do think at a certain point you’ve made enough money”. – Obama, April 2010

    “I think when you spread the wealth around, it’s good for everybody.” – Obama, Oct 2008

    Yeah, I think since he has decided who else is “too rich”, then it’s only natural that we should decide when he is “too rich”. I will be the first to call for raising taxes on the Obamas.

  • jopa

    He made his millions from book deals not the US debt.However it is nice to see that he invested in America like a true patriot.I myself just cashed in a stack of $500 EE bonds and what a waste of time and money they were.They did not reach the ridiculous thirty year maturity date but by holding them inflation was eating them alive.I knew better than to buy them years ago but it was a bond drive at work and seemed a little patriotic.After I was handed the receipt for tax purposes the numbers for the loss column started clicking in my head.

  • s c

    Either you have a warped sense of humor, J, or you have the common sense of a 2 year old child. If Herr Obummer is a patriot, I am a dyed-in-the-wool, effing communist. Please tell me that your parents at least tried to get you on speaking terms with basic common sense.
    Your thinking reminds of someone who a) needs to take more presciption drugs or b) get off them completely.
    Do yourself a favor, and stay away from anyone who offers you a hot deal on a train load of Chinese, tin-plated widgets. Geeesh!

  • jopa

    sc: Apparentlty you are a commie and how did you ever get stuck with a train load of Chinese widgets whatever they are?Good luck in trying to sell them.

  • JOhn

    Everyone has an ‘opinion’ – however – these are the facts:

    US Treasury securities are not paying the same rate as ‘real’ inflation. Therefore, Obama is making a poor financial decision.

    If Obama was trying to ‘profit’ from his position (because no one desires to profit from thier vocations, right moron?)… If Obama was trying to profit from his position… he would have bought gold, ran up the deficit, devalued the dollar, and than sold his gold at a tremendous profit.

    The person who wrote this article has no financial sense. You are dumb. The sheeple jumping on the rhetoric in this article.. you are dumb.

    That said – I don’t like Obama. But bashing him with something as ignorant as this article… and all the comments I have read… you all sound like a bunch of dumb red necks… no wonder the liberal academics don’t listen to you.

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.