The recent post Pig's kin mentioned a 2009 study which found that 78% of recent NFL players file for bankruptcy or are under severe financial distress within two years of retirement.
It does bring the old expression "black rich" to mind. (To be "black rich" is to have come into a windfall which is shortly to be squandered.)
Thirty years ago (in my pre-political days), when I first heard that explanation, I was appalled. Well, maybe "appalled" is too strong a word; but I can honestly say I was surprised that the liberal who explained the expression to me actually said it.
In any case, the expression, in turn, brings Barack Obama to mind.
There has been no other President in recent memory who throws as many White House parties (not state dinners, but parties for his personal friends) as he does. I can think of no other President or First Lady who have taken as many lavish vacations, either.
What's far worse is that Obama's attitude toward the federal deficit. The US government is racking up debt at an unprecedented rate, and Obama seems unconcerned. As long as he's in office, he just wants to effect as much redistribution of wealth as he can.
Much has been made of the fact that during his administration, the rich have gotten richer and the poor have gotten poorer -- as if that's somehow his doing. It's not: it's just an unintended side effect of the tremendous bond buying program the Fed has been on since 2008. (By driving interest rates down, the Fed has pushed people into the stock market to look for returns, which has caused stocks to go up; since it's mostly rich people who own stocks, their net wealth has increased rapidly during a time when the weak economy hasn't provided jobs for those who need them.)
Obama has in fact wanted just the opposite: to redistribute wealth. And his administration has tried this with a host of policies: The stimulus bill, which included "tax refunds" to people who paid no taxes. Higher taxes on those who weren't doing their "fair share," i.e., the rich. Obamacare, which has expanded Medicaid. Extensions of unemployment compensation. Various suits against JP Morgan Chase and other banks for their mortgage origination policies, many of which the government pressured them into in the first place.More disparate impact lawsuits from the Justice Department, which hurts businesses even more. A push for amnesty for illegal immigrants. Doubling the number of people on food stamps. Etc.
And every time the Republicans balk at raising the debt ceiling, Obama can hammer them for being obstructionist, wanting to shut down the government, and being the party of "no."
Obama sees his Presidency as an opportunity to squander as much taxpayer money as he can, as quickly as he can.