An examination of the Obama’s finances show that they were living off lines of credit along with their salaries until 2005, when the book royalties came through and Michelle received her astonishing 260% pay raise at the University of Chicago.This reexamination of the Obama’s finances was triggered by a Chicago Tribune story on whether the Obama’s should refinance their home in Chicago. In addition, it is tax time with tea parties and that is another good reason to take another look.As we first reported here last year, the Obamas received a better mortgage rate from Northern Trust than the market rate when they bought their mansion in the upscale Kenwood area of Chicago with the aid of now-convicted felon, Tony Rezko. The Tribune story asked mortgage experts if the Obama’s should refinance and the answer is “no”.But the public record of their spending shows that they had to regularly take out lines of credit to pay their bills. As reported during...(Read Full Post)