I don't think Obama understands basic economics. Not economics that work. He may understand some theory that someone in Princeton sat and dreamed up, but it's not working. ↗
I was an undergraduate at Princeton, and I was pressed by the math department to go on to graduate school. Actually they gave me fellowships that paid my way, otherwise I would not have been able to continue. ↗
I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour. ↗