Is Obama a Harvard educated financial illiterate?

The following is from the Blair House Health Care summit. I am flabbergasted. Is our Harvard educated President a dumbass idiot? Does he really not know the difference between liability insurance and collision insurance?


Here is what he says:

When I was young, just got out of college, I had to buy auto insurance. I had a beat-up old car. And I won't name the name of the insurance company, but there was a company -- let's call it Acme Insurance in Illinois. And I was paying my premiums every month. After about six months I got rear-ended and I called up Acme and said, I'd like to see if I can get my car repaired, and they laughed at me over the phone because really this was set up not to actually provide insurance; what it was set up was to meet the legal requirements. But it really wasn't serious insurance.

Now, it's one thing if you've got an old beat-up car that you can't get fixed. It's another thing if your kid is sick, or you've got breast cancer.

What?? This is unreal. This is unbelievable! I did not know "Barack" was this stupid. Is he an idiot? I have high school drop-out clients on welfare who know the difference between liability insurance and collision insurance. Barack needs to take a high school class in financial literacy. Would you take health care insurance advice from this guy? Does this inspire confidence?

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