Maybe it’s just us, but we’d have a lot more confidence in someone who wants to fundamentally change America if he were willing to put his money where his mouth is.
We learned earlier this week that President Obama’s personal wealth has exploded in the last five years and that he now be worth as much as $15 million dollars. Those same financial disclosure forms show that he’s willing to make short-term investments in the American economy, but not long-term? Not so much.
CNS News has the speculative specifics:
President Barack Obama and First Lady Michelle Obama own between $2.1 million and $10.25 million in U.S. Treasury securities, according to the president’s financial disclosure form released yesterday.
But all of that money is invested in short-term U.S. Treasury bills and intermediate-term U.S. Treasury notes. None is in long-term U.S. Treasury bonds.
By definition, according to the U.S. Treasury Department, Treasury “bills” mature in one year or less, Treasury “notes” mature in terms of 2 to 10 years, and Treasury “bonds” mature in 30 years.
U.S. Treasury bonds pay a higher interest rate than the shorter-term Treasury notes and bills, but they also carry a higher risk of their value being eroded by inflation.
…As listed on page 3 of the disclosure, the president and first lady own three blocs of U.S. Treasury securities. They own a bloc of short-term Treasury bills worth between $100,001 and $250,000 in a SEP/IRA. They own a much larger bloc of short-term Treasury bills worth between $1,000,001 and $5,000,000 that is not in an IRA. And they own a bloc of intermediate-term Treasury notes worth between $1,000,001 and $5,000,000.
Warren Buffett always says, “Invest in what you know.” It seems clear that Barack Obama knows his policies are long-term losers.
Source: CNS News
