At the White House Personal Finance Online summit on April 4, Kiplinger asked President Obama to respond to Mitt Romney's remarks the day before that, after his term in the White House, the President was out of touch with the personal finances of ordinary Americans. Here's how Obama responded:
"I went to law school and much of my college on scholarships. So did my wife. We were still paying off our student debt nine years after I had graduated from law school.
"Our first home was a modest condo, and I remember scraping together the down payment to purchase it and comparing interest rates. When Michelle and I first met, the car I was driving I think I bought for $500, and it had a big rust spot that allowed you to see the road on the passenger’s side, so I knew that my wife wasn’t marrying me for my money.
"We had credit card debt that was tough to pay off. We had to start a college savings fund, even when times were tight. Our personal finances, not having to worry about bills at the end of the month or gas prices or what have you, really weren’t stable until fairly recently.
"So in that sense I would say Michelle and I have had a quintessentially middle-class upbringing, or working-class upbringing, and middle-class experience. And I will just say, I suspect that is a contrast to some of the presidential candidates who are out there. So in terms of who’s in touch and who is not with what ordinary folks are going through day to day, I have no problem with people making that comparison."
Intel Promises Return to Chip Dominance. Does Anyone Care?
INTC stock has been a long-time laggard and analysts say it is still a "show-me" story at best.
By Dan Burrows • Published
The 9 Best Monthly Dividend Stocks to Buy Right Now
Your bills come monthly. Why not your dividend checks? These are some of the best monthly dividend stocks for 2023 income planning.
By Charles Lewis Sizemore, CFA • Published
The Biden Tax Plan: How the Build Back Better Act Could Affect Your Tax Bill
Politics Depending on your income, the Build Back Better Act recently passed by the House could boost or cut your future tax bills.
By Rocky Mengle • Last updated
Kiplinger's 2020 Election Forecast
Politics For nearly a century, The Kiplinger Letter has forecasted the outcome of presidential elections to keep readers informed of what's coming and what it means for them. Here's our call for 2020.
By The Kiplinger Washington Editors • Published
The 2020 Election and Your Money
Politics We’ve assessed how the presidential candidates’ stances on financial issues will affect your wallet.
By the editors of Kiplinger's Personal Finance • Published
5 HEROES Act Provisions with a Good Chance of Becoming Law
Politics The massive federal stimulus bill just passed by the House of Representatives is "dead on arrival" in the Senate. But a few proposals in the bill have enough bipartisan support to eventually become law.
By Rocky Mengle • Published
Vote by Mail: A State-by-State Guide to Absentee Ballot Voting
Politics With health authorities recommending people continue to social distance, the idea of voting by mail is becoming an increasingly hot topic.
By Rivan V. Stinson • Last updated
9 Ways COVID-19 Will Change the 2020 Elections
Politics The 2020 election will be like no other in history, as the COVID-19 pandemic will upend the business of politics as usual.
By Sean Lengell • Published
How to Run for Local Office
Politics If you’ve ever thought that you could do a better job than the elected officials currently in office, here’s how to launch a campaign—and win.
By Kaitlin Pitsker • Published
Ranking the Top Democratic Presidential Candidates for 2020
Politics The 2020 Democratic presidential nominating contest has attracted unprecedented interest.
By Nicole Duran • Last updated