Posted on 10/27/2011 10:30:32 AM PDT by Sub-Driver
Obama: Michele and I ‘got poorer together’ By Joshua Altman - 10/26/11 02:30 PM ET
Speaking to a group of university students Wednesday about student loan debt, President Obama said that when he and Michele got married.
“We combined and got poorer together," Obama said. "We combined our liabilities not our assets.”
Obama said that when they got married, he and Michele had a combined $120,000 in student loan debt and monthly payments on the debt were more than their mortgage.
The University of Colorado hosted the president on his way back from a west coast trip to promote his jobs plan.
The Obamas' latest tax returns show that he has come a long way since combining liabilities with the president and first lady reporting an income of $1.7 million in 2010.
Thank goodness they figured out how to “game” the system...or imagine where they’d be now.
How in the hell did this moron become part of the eevvvill filthy stinking rich without ever having done a productive thing in his life???
This amounts to only the room and board. Who paid the rest of the tab?
he and Michele had a combined $120,000 in student loan debt....................................... LOL, I bet Dan Rather can provide us the proof of that too. Add more to the Myth of another Dem President.
Thankfully this humble law school graduate turned lecturer was able to take a 6 month sabbatical to Bali and write his best -selling autobiography and support Moochelle in the style to which she has become accustomed
Paid off all the student loans, bought a mansion, sent the kids to private school, too
One year for Michelle on that Hospital Board in Chicago where she made over 300K per year took care of that combined $120,000 student loan debt.
Cry me an effing river.
This idiot and his ignorant sl*t wife are so full of bull-Obama that they need a processing plant all their own.
Shove yourselves, and all of your idiot compatriots up your smelly Obamas, Moocheloe and Cretin-in-Chief.
May you rot foreveer in a pool of septic stench.
And then we’ll start talkin’ about the really bad stuff we wish upon you.
ask Harrison J Bounell
I’ve been told Michelle has a big asset.
That’s what you get when you marry for looks...hahaha
I find it hard to believe that these two affirmative action recipients incurred any student loan debt. Ivy leagues love throwing money at minority applicants.
This is an attempt to diffuse the fact that Obama’s tuition was purportedly paid by the Saudis or some other foreign entity.
I've met very few just-marrieds who started college already owning a house.
This is BS.
“We combined and got poorer together,”....
What the hell is this?...Another “Teachable Moment” from the child dictator?
wow....and you thought Clinton was good with this “I Feel Your Pain” crap...
Obama: Michele and I ‘got poorer together’, and then we decided to go steal from the White cracker a$$es, the ones that work for a living.
Once we learned that all we had to do take, we were no longer poor.
It seems like yesterday that we were poor, now we own an entire country.
IT IS FREE, FREE AT LAST, THANK GOD ALMIGHTY, MO MONEY IS FREE AT LAST......
The student loan program that King Obama announced this week is typical vote-buying welfare that invites abuse and fraud.
True story. I struck up a conversation with a woman in an airport while waiting for a flight. The economy and the plight of recent college graduates came up. She openly (without a hint of shame) told to me how her daughter plans to take advantage of Sugar-Daddy Obama’s generosity.
Her daughter is majoring in a graphic design program at an expensive CA university and already has $56,000 in student loans.
Realizing that the labor market is depressed, instead of graduating, she is staying in school and living off student loans as long as she can. Which is what millions of others will do too.
She has no incentive whatsoever to limit how much debt she racks-up. She knows that she will not be held accountable to pay it back. Why stop at $56,000? $100,000! $150,000! $200,000! Sky’s the limit when you are spending free money!
After 20 years of repaying not much if any of her student loans, her debt will be forgiven.
How neat! Like free money or something!!
She added insult to injury by telling me that in her daughter’s line of work, many times she will be paid cash or on a 1099/self-employed basis.
So, since her daughter doesn’t plan to show much income on her tax returns anyway, the 10% of discretionary income will be practically 0. She plans to pay back almost ZERO!!
I shudder to think that we already have $1 trillion in student loan debt. With a government give-away like this one, we could easily double that to $2 trillion. What happens when the gov’t has to start forgiving 100s of billions in dollars in student loan debt?
Who pays for it? The money was spent. Somebody expected to get paid back. Who loses and/or who pays it if not the student?
That is exactly how the system will be gamed.
Those brainwashed kids standing behind Obama and cheering in front of him have idea how quickly he is destroying their country. So sad.
Easy, cheap, government-guaranteed money caused the housing bubble. Now it has caused a higher education bubble.
This is the vote-buying politicians’ way to keep the bubble inflated and keep the money flowing to one of their best mouth-pieces... liberal professors.
And the politicians won’t stop bribing the people with their own money until we are Greece on steroids.
I am profoundly sad to say that this woman was NOT an Obama-supporting liberal.
That is what happens when a country goes Socialist.
EVERYONE takes as much as they can, until there is nothing left to take.
As Prof. Alexander Frazer Tytler supposedely said back in the 1800’s (paraphrasing): A democracy cannot exist as a permanent form of government. It can only exist until the voters discover they can vote themselves largesse out of the public treasury. From that moment on the majority always vote for the candidate promising the most benefits from the treasury with the result that democracy always collpases over a loose fiscal policy, always to be followed by a dictatorship.
That describes Greece today. It could very well be America soon.
all we had to do take=all we had to do was take
Harvard has an endowment of $32 billion. It can and does meet 100% of students' financial needs. Obama's $120,000 in loans must have been for vacations, drugs and parties.
I turned down an ivy MBA and instead went to our state U. because it was a lot cheaper and I had a wife, a young child, and a mortgage to worry about.
(Think out of the box Mr. Zero! If people can't pay for a Mercedes, maybe they should look at a Toyota instead of expecting the gov't to buy them one!)
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