From New York Magazine:

At a time when people are having trouble holding on to their houses, Barack and Michelle Obama have sensibly decided not to use taxpayers’ money to renovate theirs. New presidents are allotted $100,000 to overhaul the White House residence and the Oval Office, and the Obamas hired Hollywood decorator Michael S. Smith (known, per his site, for mixing “Old World classicism with very contemporary settings”). But the First Couple isn’t spending that money.

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