Is President Barack Obama really 'The Most Expensive President Since 1945??

Let me say this first, I'm down for President Obama 110%, that being said in his first 100 days there are problems with how he is handling things. We have to be truthful to ourselves and look at whats on his plate. At any rate he has a tough job ahead of him and he needs our support. But as I look around not everybody is in favor of President Obama and this fact is crystal-clear from an opinion post on Spiegel. Award-winning journalist, Gabor Steingart, has more than one reason to state that current US President Barack Obama is ‘The Most Expensive President Since 1945’. He isn’t shy from proclaiming that Obama’s first 100 days in office were expensive, glamorous and often contradictory. Evaluating Obama’s performance on why the 44th President got himself tagged as the most expensive President since the year of 1945. The prime reason for Obama's first 100 days touted as the most costly in American postwar history- Obama has ignited a dangerous time bomb in the US government's budget. The economic stimulus program and the billions in bailout funds for Wall Street banks are being paid for primarily with borrowed funds.

Also from a financial standpoint, the United States cannot afford many of these bailout programs as they are not being paid for with taxpayer money. However Obama claims so. Instead, the money is coming from the savings of the Japanese, Chinese and Europeans. The United States now needs $1 billion (€760 million) in foreign funds every working day just to maintain its standard of living. It is also reported that the country consumes more than half of all worldwide savings. Not only is this is costly, but it is also extremely risky. More important, it is not sustainable. By taking this approach, Obama is only leading his country more deeply into dependence on creditors from around the world.

Moreover bank bonuses are likely to be twice as high as they were before the crisis this year. Also the first African-American President’s family’s lifestyle isn’t short of glitz and glamour. It is very obvious that Michelle Obama’s wardrobe is full of designer outfits that make a statement without fail.

Gabor summed it very well - So far, the Obama presidency is as contradictory as reality. No one today can say whether he will end up being the president he wants to be. Presidents develop in office.

To tell you all the truth Gabor makes some very good points when you go back and do your own research. Also 74% of americans are having trouble with their finances and most of these people have manageable debt. So imagine what our President and his team are going to go threw getting this country's debt back in order after we spend our way out of a recession/depression! Its just a thought, keep your third eye open!!!

"G"