At a White House briefing for online personal finance writers last week, President Barack Obama was asked what money advice he himself had found most valuable. The President riffed on his Kansas born grandmother, who worked her way up from bank secretary to vice-president and taught him about the importance of saving and the magic of compounding interest". Then he segued to the value of investment ---both by the federal government and individuals.
When Michelle and I graduated from law school our combined debt was $120,000 and it took us 10 years to pay off. We were lucky because wed gone to a law school where we knew we could earn it, said the Harvard Law alum. It remains smart to spend on things that are going to increase your productivity and your income over the long term. In the same way that law school paid off for Michelle and I, he added.
Obamas main point was political--namely thatleaves more room than does House Republicans for domestic spending on stuff he deems investments, such as education, infrastructure and research. But for f
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