Financially Illiterate

Posted on October 26, 2012 3:00 pm

So an angry former Biden staffer wrote a tell-all that mentions that both Biden and Obama are “financially illiterate” — if the whole “let’s raise taxes to create jobs” didn’t clue you in. It would be interesting to see more of those internal sessions in the White House where they plan out their financial ideas, though I assume that just resembles a toddler trying for an hour to shove a square peg in round hole.

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3 Responses to “Financially Illiterate”

  1. CTCompromise says:

    But they ARE “Congessionally literate”-”Hey that’s a swell program, it will make people really like us! How do we get enough money to throw at it?” “Let’s raise taxes!” “Brillant!!! Well, fetch my golf clubs Joe, our work here is done.”

  2. Jimmy says:

    They’re not only “financially illiterate,” they can’t do math past the 7th grade level.

    Advisor: “Mr. President, when we take the net present value of that entitlement stream, we use the equation:
              ⁿ
    NPV = Σ Et / [(1 + i)^t]
            t=1

    where ‘Et’ are the entitlements payed at time t, ‘i’ is the expected rate of return on investments at time t, and, t is time, normally in years. Sir, we obviously can’t afford that.”

    Obama: “Huh?”

  3. Writer says:

    They are constitutionally unable to algebra and higher mathematics. They also are suspicious of those more capable than themselves. They follow by rote the path led by FDR who managed to muddle in the dark perpetuating the Great Depression for ten years, rather that acknowledge he was failing.

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