The Nouveau Riche in the White House.
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It's Only Money.
This term is used to describe a person who recently acquired new money, or new found wealth, as apposed to those who are born into a family who has been wealthy for generations. or acquired wealth by means of hard work. While we would all like to win the lottery or receive an inheritance, how many of us have the knowledge or the restraint to maintain our new found wealth?
Imagine the possibilities of having millions of dollars at your disposal, to spend in the manner you wish. Nothing would be too expensive or unattainable. A new car, a new home, maybe several vacation homes, trips to Europe, new clothes, jewelry, and the list goes on until you become bored. Some would generously give to family and friends, while some would be compelled to donate to their church or some charity organization to fulfill their obligation to help the now less fortunate.
That single dollar spent on a weekly lottery has the possibility of suddenly elevating you to the top 5%, a new social class. Suddenly you could be among the elite, no more hot dogs and macaroni, now it’s Beluga and Champaign every day. However the lack of financial restraint often leads to a naive and irresponsible use of all this new money. There was a great MSN article describing how long it took some lottery winner to fall back into poverty, sometimes greater than where they were before those millions.
The ‘nouveau riche’ residents of the White House. Those who have never run a business or managed a budget, other than that of their own family, would be hard pressed to understand a budget of a whole country. Those who live in the elitist world on a K-mart budget would have a hard time understanding why they cannot have what they want. Such are the Obama’s.
Prior to moving into the white house the Obama’s were a little above average family, who borrowed against their $159,000 home to the tune of $220,000, nothing wrong with that, there are many who have to sustain by taking out a second mortgage on their home.
The problem began way before the election, and has escalated to a point where there is no accountability, or reason for the spending. On a personal level, how can one justify the spending when we are all asked to sacrifice for the betterment of this country?
Elitist spending would include:
Dinner and a movie on Broadway - $250,000
A Rainbow play system for the children. A Castle Package IV with a Double Bubble on the Penthouse, which retails for $14,799, plus $1,500 install, not including the surface it sits on.
Michelle’s commencement appearance where the First Lady told the grads at UC Merced to “give back”, ballooned to $700,000
Martha’s Vineyard vacation home which rents for $35,000 to $50,000 a week.
She went to a food bank wearing $540 sneakers. From the French designer Lavin
The weekly Lavish White House Socials where high grade Wagyu beef is served.
Michelle Malkin characterizes Michelle very well when she calls her the “First Crony”
http://michellemalkin.com/2009/06/23/calling-her-what-she-is/
The Frugal Cafe, does an in depth report on the history and spending of this couple with excerpts from many blogs and newspaper articles.
In conclusion, the Obama’s are no different that any person who suddenly comes across new money, the difference, which should be of concern, is that our economy is in the hands of someone who clearly has no understanding of history, or economic. Is there any wonder why we have the ‘stimulus plan’ the ‘health plan’, ‘cap& trade’, with no way to fund it? This should scare you, no matter what political side of the fence you’re on.
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Comments
Austerity is is the name of the game, and whichever aisle we belong, our leaders should be made accountable for their behavior. Where are the watchdogs for good government and transparency when we need them? We are living in precarious times. Thanks for this informational hub!
The list just goes on, and while being a presidents does give you certain benefits, there should be a little humility. Thank you Dan.
Island, where are the watchdogs indeed? Thank you for your comment.
Be careful, you will be accused of being the R word. Isnt it ironic this is the same guy who is against business perks.
You nailed it again. These Nuevo Reich imposters have made a mockery of the Presidency of what was; until they changed it to reflect their image and likeness, the greatest country in the world. The question is how could this illegal alien work the system so well on his way up so as to benefit from the best education someone’s money could buy. Now as he occupies the White House Throne, following his coronation, he smugly looks upon his subjects and demands sacrifice from the citizenry so he and his Czarina can continue to live lavishly!
Keith, thanks for stopping in. No need to worry I've already reported myself for being fishy. :)
There are times the president need to rich it up, because he is the president and other diplomats visit. But Barry and Michelle appear to be over doing it, especially when they tried to go into this with a "we are just one of you" disguise to help him get elected.
Thanks for the comparison, and teaching an old hick redneck a new word.
Keep on hubbing!
There are times the president need to rich it up, because he is the president and other diplomats visit. But Barry and Michelle appear to be over doing it, especially when they tried to go into this with a "we are just one of you" disguise to help him get elected.
Thanks for the comparison, and teaching an old hick redneck a new word.
Keep on hubbing!
Partison, words of wisdom. Please don't get me started on the Czars, the pawns who only answer to Obama. It really makes my blood boil. Thanks for visiting.
Eovery, thank you. I have read about those who liken themselves to the masses in public, while snobbing their noses behind closed doors. There is no mystery we a just 'useless eaters' in thier eyes.
You've just given us another reason as to why Obama is dangerous. Remember, before he was president, he was a lawyer, and politician--that's it. He's never taken a single economics course in his life, never ran a business, never managed anything. He's gotten to where he is because, just like all lawyers and politicians, his mouth. And it's showing. he's all talk, and no substance.
I would like to thank you as well for teaching me a new word.
Dean
Well jiberish, I liked what I read. I'm not going to comment as U.S.A is not my country ( sorry,but thanks God !)and I don't want to sound rude. But you can imagine what I think LOL! Thank you !
Dean, He told us exactly what he was before the election, there were those who listened and those who chose not to. Thank you.
Tantrum, I can imagine, and you are free to voice you opinion, sometimes more free than we are. Thank you!
Yes, it was plain before he was elected to see exactly what he was. How people can go on and on about "give him a chance" makes me think the kool-aid has become an addictive drug. Great hub jiberish!
Well what can an outsider say, other than I am sure this reaches further than the President, what are all the other senators up to. The UK has had a huge scandal to deal with as a result of the ridiculous expense claims made by MP's from all parties.
Madame X, I have been told over and over that the reason I dislike him is because of his color..etc..My response is always this: If he was blonde hair, blue eyed, he would have been torn to shreds because of his background. Addictive drug for sure. Thank you for stopping by.
Brian, surely being an outsider you see things a little differenly, I would love to see others perspective on the chaos here. Thanks again.
the Obama's were pulling in four million dollars a year way before president OBAMA was elected.they are not new to being rich.
Kinda uppity fer yer taste, huh?
The Bushes sure weren't like that. Just humble folk, they were.
Bill, but they were not born into money.
Pgrundy, yes, the Bushes had their fair share, but did not flaunt it in our face while begging us to sacrifice.
Thank you both for your comments.
I have only one word for the Obamas..hypocrisy!!!!!!
I also have one, arrogance. Thanks for visiting Breakfaspop.
I' am enjoying your Hubs very much. For some reason I love your subject.
My only self-defense is that "I didn't vote for him!". Lame defense, hah.... Also, at least we can say now "I told ya!"
Harvey, thank you, I enjoy yours too!
ReuVera, thank you for stopping in. No, I believe we won't have to say "I told you so", soon they will find out on their own.
They ARE finding it now already, but some are cowards to admit that they made a mistake.
I am your fan for sure!
Ok I join the ranks as a new import,and my opinion is the wealth hasnt been spread in the USA for many many years ,that is why the USA has the greatest amount of millionaires and homelessness per capita. Astounding but not surprising.
As for 'not flaunting it our faces' well that makes me feel alot better .lol.
By the way what eventually happened with Immigration during the end of Bushs last term?
Thanks for this informative Hub. Obama is definitely a big spender in his approach to government. We already had a deficit, which he is adding to on a huge scale.
Pgrundy drops in and adds her 2 cents, she's broke!
Eaglekiwi, why does the wealth need to be spread? If your homeless you choose it! There are way too many jobs where I live nobody is losing anything here unless you just have no work ethic!
My goodness Texan ,you need to travel outside of your street a lil more ,me thinks. Thanks to the last government and his cronies many of the jobs went offshore or belly up. Still Im not as bad off as many others , they must be lazy ..sshesh!
Thank you for a great hub! Nice to see another American with a common sense! I just only hope that more Americans can understand what it is so obvious for you and me. Unfortunately the result of the latest election shows opposite.
I like this sort of hub material,I hope it's all accurate though,from what I've read over the years some of the Items you've listed are sometimes given as gifts to the Prez and the first lady,great hub non the less!
You could invite some of the Aristocratic families of Europe to rule our great country. They really know how to spend money.
But hey, we have our own aristocracy. We have the Wall Mart Family, the Morgans, the Du Ponts etc etc- get them in the White House. I guess they are too shy to rule direct. They like to just pull the strings on the good ole elephant.
Seriously. Why do right wingers attack every 'elite' for having too much power, influence and money except for the only elite who really do have too much money, power and influence for the good of the nation?
Thanks for shedding some light on the matter. :) Nice hub.
However, PBHO has earned an average of 5 mil/yr for the past three years, and their Chicago home is worth closer to
1 mil USD. The circumstances under which they acquired the home several years ago are quite, ah, interesting, as is the mysterious massive pay raise Ms Obama incurred at her Chicago "job." "Chicago way." Notice the mainstream media didn't touch that one, nor will they ever discuss Mr Axelrod's income in connection with deals he was able to make in his current admin. position (M. Malkin correctly calls it corruption). Such is life in politics. :)
And you're exactly right about irresponsible spending.
Maybe you could write one about the Cap and CHARADE legislation. You know, about global warming, the biggest political farce of the century. All it amounts to is a big gov. power grab. :)
You are forgetting that the president of this country does not have the power to decide and get what he wants on whim. there is the House and the Senate to approve them first, if the lower house approves it but the higher house doesn't, it does not happen at all. Running this country and spending it's money does not lie in one man's hands alone. As regards the dinner parties, if the american diplomats abroad serve the same expensive wagyu beef at their dinner representations, why can't the White House? And where did Michelle Obama get the money to buy her sneakers, was it from taxpayers? If it indeed was from taxpayers, we have the right to open our mouths and criticise it.
I'd rather see the money spent on wagyu beef than on wallpaper at the white house.
Thank you all for your comments.
eaglekiwi, traveling to another street where jobs don't exist doesn't make a lot of sense, maybe people should move to the jobs?
I don't know where you are getting your information but the Obama family was very wealthy before taking office.
This from the Washington Times:
Mr. Obama and first lady Michelle Obama reported a taxable income in 2008 of $2,656,902, paying $855,323 in federal taxes and $77,883 in their home state of Illinois.
For 2007, the Obamas reported a significantly larger taxable income of $4,139,965.
The Obamas also paid $47,488 in tuition for their two daughters, Malia, 10, and Sasha, 7, to attend the University of Chicago Laboratory Schools.
Don't even get me started on Obama's trying to pay our way out of this recession. All he has done is delayed the inevitable and put our childern and their children and the next 10 generations in never ending debt.
Who programmed this mess? I've feel like a rookie cop trying to find his cuffs in the middle of a bust.Instructions are contadictory, repetitive and downright misleading. I have never seen a site this disorganized. Are you guys located in the south Bronx? If you are, expect a visit from one our friendly narcotics specialists.
Being born into money doesn't automatically make you better able to handle it. Mr Bush was a wealthy man, but his administration were responsible for some very serious financial mismanagement. I hope the Obamas have a chance to benefit a little from the prestige that must inevitably follow being one of the world's most powerful men, after all, they have much to cope with living in the public eye.
Although you didn't include this in your hub, I'm curious to know the comparison of the Obama's spending and that of other presidents, especially the Bush's during 2008 when our economy was going down the tubes.
hmm interesting take on things. I'm pretty sure the Obamas had several million before being elected. I'm also sure based on their jobs, they have a pretty good idea of managing budgets much larger than their family's budget. I can agree however, that those of us who have experience only with our own personal budget, don't fully grasp national economics.
This is an intersting hub. There are unanswered questions as to how Obama got his $1,000,000 house in Chicago. Being a community organizer must pay well. Most of his brief time in the senate was spend on the campaign trail so his experience is extremely limited in many areas and it shows, as we now watch his approval ratings drop. I will say he has a glib tongue! Watch his actions not his words.
Sour grapes crowd- yawn... ya'll boring. Get a life and move on, jeeez!
Good to see you Tex.
Mike, again, let me clarify, They were not born into money. Thank you for visiting.
Myboy. ?????
Amanda, if it doesn't bother you that he's spending you money, you are a better person than I. Thank you for visiting.
Patrice, yes our economy was going down the tubes in 08, thanks to the democrates in congress.
Mulberry......he could spend money, and probably has plenty of people guiding his decisions, but unfortunatly I disagree with flaunting it in our face, when he askes us to sacrifice. Thank you both to your comments.
Pamela, I just spent a week with my parents. We came here from a communist country, and my family sees and feels the wave of that again. It's dirty Chicago politics, and unfortunalty the masses, do not understand history. Thank you for reading my hub.
Ixwa..I guess it was alright for the other side to bitch for 8 years. Now it's our turn. Thanks.
Kudos to you!!! Awesome hub!! And there was no money to spend when he got there, it was minted fresh....at his order....And how much did he net in campaign contributions??? Are we having fun yet????
To me it's not even about the money anymore. I saw his at Kennedy's funeral and as usual he had no class, he did not even shake Bush's hand.
Aaargh! Yikes! and the cow jumped over the moon...
The economy was going down the tubes in 08 because of the Democrats in Contress? Hmmm....well that certainly is one take on it. Here I thought, aside from housing, that the gas prices that President Bush found "interesting" might have had something to do with it. By the way, I do assume that if President Obama did not shake Bush's hand, that Bush also made no attempt to shake Obama's hand. However, I do confess that I wasn't watching and did not see how this played out.
It played out bad.
Eish? boring.. hurry up slowly... Why not become Bush's Secretary of etiquette? none issue, YAWN..
There is something highly distasteful and in opposition to traditional American values in the very phrase "new money". The assumption that someone is better somehow due to coming from a family with money, rather then creating their own fortune is not in holding with the traditions this nation is formed on.
Whiteiris42, I never said either was better, this Hub was about someone acting like they just won the lottery, and asking everyone else to sacrifice, while flaunting it in their face. I feel that the lack of class in the Whitehouse is appauling. Thank you for visiting.
Gutsy hub....thanks.
Not as gutsy as some, thank you.
Not only is this a great hub, but even your answer to comments left by others are excellent! I'm definitely a fan!
CJV123, thanks for visiting. It's pretty wierd out there, and this is already old news. :)
Oh and the former administration used such fiscal restraint! The national debt grew approximately 70 percent under Bush and the economy tanked, mortgage defaults sky-rocketed, and they left a record near-$850 billion trade deficit. And, I'm sure they were very frugal regarding personal expenses.
I don't remember them flaunting it in our face, then asking us to sacrifice. Thank you for stopping in Kartika.
I don't understand, you're saying that because they had to work for their own wealth, instead of being born with a silver spoon in their mouths, that somehow makes them incompetent? W was a classic example of just the opposite being true. Rich enough to not have to work hard. Rich enough to not have to earn an education. Rich enough to be accepted by your standards while totally demolishing the economy, the country's reputation around the world, and the overall well-being of the average American citizen...only to pawn the blame off on the self-made millionaire that's now trying to clean up the horrendous mess W left behind. Talk about "elitists". LOL This is comical. Extremely entertaining hub...I'm an instant fan of your work! This should be on television!! Hilarious!
T. I'm sorry you misunderstood, yes the Obamas had money when they arrived at the white house, but were in debt. Now that they have access to unlimited funds, they seem to take advantage of it while asking the general public to sacrifice. He has been on vacation 123 days, they're diner and a movie cost the tax payer over $300K, they should humble themselves a little in the mist of a recession. Even Michelle decided to take an afternoon trip to the market which cost us over $100K in body guards, not to mention they closed 4 streets down during rush hour. Are they movie stars or servants of the people who elected them?
You've got the most appropriate name on this site jiberish. Have you ever been to DC? I was there when Clinton was in office, as well as "W", and if either of them stepped out on the front porch of the White House traffic was stopped. No, they're not movie stars, they are the first family. The first family, in case you didn't know, is always the most heavily secured family in the country. That's not a special "Obama" deal, it's the norm.
Prove to me they were in debt? I didn't misunderstand, you're just back peddling...as you should. Where are you digging up this crap? Do you actually believe what you're saying, or do you just expect your readers to agree with whatever you say? I guess if you put a number on it, that makes it look like research. Oh wait, I forgot...this is a comedic thread...meant to be funny. My bad, I've been punked. I actually thought you were serious for a minute there. LOL Good one...you got me!
I have my sources, you have yours, we both believe what we want. I was not hubbing when W was in office, if I had been I'm sure I would have voiced my opinion on him too. Some of my Hubs are comedic, some are serious. I have learned to back up every serious issue I write about, will be glad to send you the links.
Jiberish, you sound pretty elitist in this thread. People only know how to spend money if they are born into money? Come on.
An honest, side by side comparison of the Bush family's spending with the Obama's family spending would give you a bit more credibility.
As for Obama's experience with money and ability to run the country: he was a community organizer first, then he went to Law School, where he graduated magna cum laude (Bush barely got a C average in college). He was the first black President of the Harvard Law Review.
After law school, he directed (aka managed - that is, dealt with the budget and everything else) Project Vote. In 6 months he led that organization to register 150,000 previously unregistered African Americans.
He worked as a civil rights attorney and also as a professor of Constitutional Law at the University of Chicago Law School, one of the most prestigious law schools in the nation.
He has served on the board of directors of several large nonprofit organizations. That means he dealt with budgetary issues.
He was an Illinois State Senator from 1996 to 2004. This means he dealt with state budgetary issues for 8 years.
He then served as a United States Senator from 2005 to 2009. Again - this involves making decisions about budgets.
Obama is supremely qualified to run this country.
Please check your facts, don't swallow whatever the right wing media tells you.
William R Wilson, thank you for posting Obama's resume it looks very impressive. There were many articles such as this when Bush was in office, now we have a new president, and life moves on. Thank you for visitin.
DanDnAZ says:
4 months ago
What a comparison!!!! Good observation.