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We couldn’t let the ultimate metaphor of our time pass without notice….
Although having his personal credit card rejected in an attempted transaction is just a single embarrassing event for the President, it is not unexpected. Barack Obama has never been a smart man when it comes to money, which is something that has been known since before he was elected to be the President of the United States of America, thanks to the information we have about how he came to buy his home in Chicago:
There is no question that Barack Obama knew the property was overvalued. We recognize this in that his first bid for the house was for just $1.3 million, which as we saw yesterday, would put it right in line with the other properties that have recently sold that are very comparable to the house on paper!
His second bid, $1.5 million, as compared to the true value of $1.43 million, was high, but not outrageously so. His third, “successful” bid of $1.65 million more than vaults over that line.
More disturbing, if we accept that the only thing keeping him from spending the $1.95 million the previous owners were originally asking was his inability to get that much money, what could the United States be in for should Senator Obama become President Obama? Remember, the amount of money he could get was the only constraint he had in the transaction! Ethical constraints, as recognized by his reliance upon favors done for him by shady political associates, were absent from the beginning.
Discounting that apparent reliance upon receiving favors from political associates for his personal benefit, we find that the price that Barack Obama paid for his house reveals a serious lack of fiscal discipline, all the more remarkable for it being on display in the largest single financial transaction of his life to that date. Rather than carefully steward his own money, he instead sought to fulfill his vision of “a fitting home for a new senator.”
He might be President. What price will America be compelled to pay to fulfill his grandiose ambitions? And how much will it cost to fix the certain damage?
With a little more than two years left to go in his presidency, we know one thing for sure: the costs of repairing the damage will be massive. The nation is still totaling up the price.