Feeling Sorry for Michelle Obama
Gosh, look at how tough things have been for her
As she has many times in the past, Mrs. Obama complains about the lasting burden of student loans dating from her days at Princeton and Harvard Law School. She talks about people who end up taking years and years, until middle age, to pay off their debts. “The salaries don’t keep up with the cost of paying off the debt, so you’re in your 40s, still paying off your debt at a time when you have to save for your kids,” she says.
Save for your kids? For what? Oh, so that they don't have to pay the lasting burden of student loans? And most studies indicate that the salaries do keep up with the cost of paying off the debt. Unless you do as she suggests, which is not to go into the corporate arena:
A former attorney with the white-shoe Chicago firm of Sidley & Austin, Obama explains that she and her husband made the choice to give up lucrative jobs in favor of community service. “We left corporate America, which is a lot of what we’re asking young people to do,” she tells the women. “Don’t go into corporate America. You know, become teachers. Work for the community. Be social workers. Be a nurse. Those are the careers that we need, and we’re encouraging our young people to do that. But if you make that choice, as we did, to move out of the money-making industry into the helping industry, then your salaries respond.” Faced with that reality, she adds, “many of our bright stars are going into corporate law or hedge-fund management.”
Boo, hedge funds! Of course, as York points out, going into community service hasn't been quite the sacrifice for Mrs O that she would like to claim:
In 2006, the Chicago Tribune reported that Mrs. Obama’s compensation at the University of Chicago Hospital, where she is a vice president for community affairs, jumped from $121,910 in 2004, just before her husband was elected to the Senate, to $316,962 in 2005, just after he took office.
Labels: Barack Obama, Michelle Obama