President Barack Obama, on his nightly visit on ABC, CBS, NBC and CNN was in tears last night as he confessed that Michelle's mother, Ms. Marion Robinson, has apparently been on a wild shopping spree even while he was trying to get the nation out of debt and the economy going once again.
"Apparently, this sweet woman has a habit we thought she had gotten rid of years ago", stated the President. "But I guess getting into the White House and all that money flowing around, she went on a three trillion dollar shopping spree that we knew nothing about until a U-Haul truck came by with the first load of furs and diamonds, gold rolex watches, a Van Gogh painting and whatever is still arriving while I speak."
The President then stated that he wondered why the family budget was balanced for the past nine months when it never had before, but he had failed to notice that "Mom" had received over 350 credit cards.
Then there was the fact that as hard as he tried the national debt had sky-rocketed.
"We are returning these things as best we can and as soon as we can. I ask the businesses and the foreign countries to be patient, except for Nigeria who ripped her off."
"I give you my word, this WILL be corrected and everything sorted out. Mom, I forgive you and we're going to get you some help."
He then stated that he had appointed former Fed Chairman Alan Greenspan as "The Mama Czar" on a six-month basis.
Mr. Obama was consoled by Harry Reid and Nancy Pelosi was overheard whispering, "There's one in every family. I hope they don't start those awful'Yo Mamma' jokes on Talk Radio."
Meanwhile, the President was informed that he had just been nominated for a Nobel Prize in Economy.