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Obama Says Malia and Sasha May Be Looking for Babysitting Jobs

5 years ago
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President Obama says daughters Malia and Sasha may be looking for babysitting jobs to supplement their allowances.

He made the remark during an interview with ABC News about the consumer benefits in the financial overhaul bill he signed on Thursday. In the interview, broadcast on Friday, the president was asked what he and wife Michelle are teaching their daughters, who are 12 and 9, about money.

"You know, it's a great question. What I'm doing now . . . is they're getting an allowance. They're starting to get old enough where they may be able earn some money babysitting. They've got their own savings accounts," Obama said, adding, "What I'm trying to explain to them are basic concepts about savings, about interest. If they keep a hundred dollars in their bank account at 2 or 3 percent interest for six months, this is how much money they're going to have at the end of it."

(It's rare to find regular savings accounts these days that pay 2 or 3 percent.)

Obama became a multimillionaire by writing two best-selling books. Before that, he has often said, he and Michelle found it hard to pay off their college loans, credit cards and save for their future.

The president was asked if his own retirement fund has taken a hit -- if he could feel "the pain directly that other Americans are feeling."

"Well, part of it has," he answered. "That part that is devoted to Malia and Sasha's college fund, that goes up and down with the stock market, and so it's lost value, like everybody else. You know, Michelle's mom has savings that have been affected.

"So, you know, one of the reasons I think that issues like consumer financial protection are so important to Michelle and myself is we're just not that far removed from what most Americans are going through. I mean, it was only a few years ago when . . . we had high credit card balances, we had two little kids that we were trying to figure out how to save enough for college, we were still thinking about our own retirement and looking at our retirement accounts and wondering, are we going to be able to get enough assets in there to make sure we're protected?"

Still, Obama, unlike many Americans, has a generous guaranteed lifetime pension, which he qualifies for after serving just a four-year term. Under the Former Presidents Act passed in 1958, the pension was $191,300 in 2008.

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Lazaro V. Arango

I agree 100% that the President's daughters should be left alone by the press and any other type of news and/or publications. It is also my opinion that the President should not make reference to them in his public appearances.

July 29 2010 at 4:38 PM Report abuse -1 rate up rate down Reply

Is this while they are in Spain or Martha Vineyard?
Being so extravagant when American families are having such difficult times just doesn't seem right. I am not just talking O'Bama here but beginning at the top. Is this "do what I say and not as I do!"

July 27 2010 at 7:14 PM Report abuse +6 rate up rate down Reply

Oh, great, when the girls are out doing their jobs more guys for personal protection for them.

July 26 2010 at 9:59 PM Report abuse +4 rate up rate down Reply
1 reply to lun9jm's comment

The girls are each granted a secret service regardless of whether they babysit or not. The problem is really going to be WHO are they going to babysit? More than likely, due to the security involved, the child(ren) will probably have to come to them. The Obamas may discover that babysitting may not be the practical way for the girls to supplement their allowances. Perhaps "babysitting" may just be a metaphorical way of stating that they just aren't going to be given whatever they want, and that they need to learn. Because they live at the White House, there are somethings that will be off limits to them - such as lemonade stand. I'm sure that their family will brainstorm to come up with a way to help.

July 29 2010 at 3:35 PM Report abuse rate up rate down Reply

I hope that if they had boys, they would also offer them babysitting jobs.

July 26 2010 at 7:56 PM Report abuse rate up rate down Reply
we love mario!!!

Is the money they make baby sitting going to be off the books, or is it going to be taxed? What will it cost the taxpayers for extra security ?

July 25 2010 at 2:45 AM Report abuse +8 rate up rate down Reply

President Obama's daughters need normalcy. Babysitting and being taught the value of the dollar by their parents is good for them to learn as children. I doubt very much it costs us taxpayers any additional money for the Obama's babysitting service. Secret Service Agents are on duty 24/7 using surveillance cameras to keep watch everywhere in the White House; they have always done this in the past for our previous Presidents serving in Office.

July 25 2010 at 1:54 AM Report abuse -4 rate up rate down Reply

It's a great idea that Pres.& Mrs. Obama want their daughters to get babysitting jobs - it's a great idea to teach them responsibility & they should be earning some money to pay some of their expenses. However who is going to want to have a babysitter for their children who have several Secret Service Agents either inside or outside their homes while the girls babysit. I think it might be a difficult & uncomfortable situation for both the girls & the children they are babysitting.
Evie Glodic

July 24 2010 at 1:30 PM Report abuse +6 rate up rate down Reply

Although these girls will be accompanied by the secret service, I believe they are way too young to be babysitting. I would not trust my kids to a 9 or I2 yr. old, secret service or not. I also don't believe for one minute that President Obama would allow his girls to babysit at such a young age. Everything he does is calculated and cunning. There is a point behind this article hidden somewhere, and it isn't babysitting. Perhaps he is beginning to realize that we are so far in debt that we are going to have to start employing our children at a much younger age, so he can find some other means to pay back the huge debt that he has incured. The majority of the people in this nation are so broke, many have lost their homes, their jobs, yet it appears that he is squeezing the middle class so tightly that there is massive depression going on in our country. God help us.

July 24 2010 at 9:14 AM Report abuse +9 rate up rate down Reply
1 reply to Jeannie's comment

I really don't think President Obama is advertising that his kids are going to be babysitters. I think that "babysitting" is a metaphor for whatever they come up with for their own money. 9 is too young, but 12 is not - although it does depend on the child. When I was 12, I babysat 3 kids for the whole summer every day while their mother worked. Would have been a better summer but the middle kid was a difficult child. Even so, I dealt with him, and we all survived. His main point is that he wants his kids to understand that they need to not have everything given to them - even if they have the money.

July 29 2010 at 3:41 PM Report abuse rate up rate down Reply

Im so glad Obama can find time and money for Vacations when the normal American family is suffering so much. I think Obama has had all of this fame go to his head and I think he is un in touch.

July 23 2010 at 9:53 PM Report abuse +33 rate up rate down Reply
3 replies to sunsetrealtors's comment

Lets see if I have this correct. Each of his Daughter's will be accompanied by at least 2 Secret Service Agents at a cost of how much per job just so they can earn 40-50 bucks, maybe? How much sense does this make for the taxpayer who will be footing the bill? Well it makes no sense at all. Why should we, the taxpayer, foot the Thousands of Dollars this will cost just so his Daughters can earn a few dozens of Dollars. This man has no concept of how economics works. All he is capable of is wasting the Taxpayer's money.

July 23 2010 at 9:50 PM Report abuse +34 rate up rate down Reply
1 reply to usrt66's comment

The president's kids should be able to live a normal life. They shouldn't be imprisoned in the White House because it costs the taxpayers money to let them out. The secret service has to follow no matter where they go, why does it matter to you whether it is to do some babysitting or to go hang out with their friends at the movies?

July 25 2010 at 12:20 AM Report abuse rate up rate down Reply

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