Saturday, June 12, 2010

Is Obama Underwater?

War, oil spill, his mentor Rezko in prison, Blagojevich on trial, and now he's probably underwater on that big house in Kenwood. Via Political Calculations.

Using that revised and updated data, we found that the value of President Barack Obama's Chicago house is nearly $500,000 underwater compared to the amount he paid for it back in the second quarter of 2005.

If accurately reported at the time, this housing transaction would have provided the clearest indication that American voters would have had before the 2008 election of then presidential candidate Barack Obama's tendency for extremely wasteful spending where his own finances were concerned, a trait we now confirm also applies to the nation's public finances.

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