Obama not much of an economic strategist

My suspicions regarding President Obama’s lack of economic knowledge have been validated.

According to the president’s recent financial disclosures, he holds between $500,000 and $1 million in a JPMorgan Chase checking account. Checking accounts nowadays earn virtually nothing. The Obamas also have a 30-year mortgage on their Chicago home worth between $500,000 and $1 million with an interest rate of 5.625 percent.

You don’t need to be an economics genius to realize that paying off the mortgage with the funds from the checking account is a no-brainer. How can anyone think President Obama is equipped to lead our country out of its economic problems when he can’t even competently manage his own household’s finances?

Stephen W. DeFilippis

Wayne