January 9, 2015

The Financial Planner You Should Avoid

“Don’t buy something you can’t afford.” That was Barack Obama’s advice to home buyers as he announced a plan to cut mortgage insurance rates through Fannie Mae and Freddie Mac. “That $900 can go toward grocery, gas [or] children’s education. … That’s money back in the economy,” he said. Of course, the irony of this president lecturing people on what they can’t afford is rich. He began his presidency with a near-trillion dollar boondoggle called the “stimulus” that not only failed to boost the economy but jacked up federal spending and deficits to record highs. Translation: He bought something all of us put together couldn’t afford, so don’t take financial advice from him. More…

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