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Money Talks News: Romney vs. Obama—How They Spend Their Money


The Obamas

President Obama has made appearances in suits that cost an estimated $1,500.

But that’s nothing compared to first lady Michelle’s occasional splurges. She was seen wearing a $6,800 jacket from designer J. Mendel to a reception at Buckingham Palace for the opening of the Olympics, for example.

During less lavish soirees, Michelle is often dressed in more subtle fashion, such as this dress by Tracy Reese, paired with pumps from J. Crew. The dress has not yet been produced, but similar versions cost $395 to $450.

It’s worth adding that Michelle’s fashion often comes without a price: She frequently receives wardrobe items from top designers like Jason Wu for free, months before the fashion lines hit stores. Oh, the luxuries of being first lady.

(AP Photo/Sang Tan)

More from Money Talks News:
How Will Your Taxes Change?
The Truth About Jobs: Why Both Sides Are Wrong
How to Contact Your Congress and President

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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