President Obama Says His Daughters Will Soon Be Available for Babysitting

President Barak Obama Eyes Babysitting Duties For Daughters

President Barack Obama's daughters might be growing up in White House, but that does not mean they have to miss out on a rite of passage for American girls -- a babysitting job.

President Barack Obama is hoping to teach business America some lessons in financial responsibility with the recently passed financial reform bill, but far from Wall Street, he's starting in his own home – with potential babysitting jobs for Malia and Sasha.

Obama, who has the headache of stewarding the slowly mending US economy, said in a television interview that he was also teaching his daughters Malia, 12, and Sasha, nine, about savings, interest and money management.

"What I'm doing now with Malia and Sasha is they're getting an allowance," Obama told ABC's "Good Morning America."

"They're starting to get old enough where they may be able earn some money babysitting. They've got their own savings accounts."

Any First Daughter baby-sitting service would be highly sought after, as presumably as well as the prestige, parents could expect a full retinue of Secret Service protection for their little ones.

Obama, publicizing consumer p rotection provisions in the sweeping financial reforms he signed into law this week, said that he and his wife Michelle were not far removed from financial pressures facing Americans.

"I mean, it was only a few years ago when, you know, we had high credit card balances, we had two little kids that we were trying to figure out how to save enough for college.

"We were still thinking about our own retirement and looking at our retirement accounts and wondering are we going to be able to get enough assets in there to make sure we're protected."

In recent years, Obama has achieved financial security, largely through the sales of his best-selling books. The Obamas reported an adjusted gross income of 5.5 million dollars in 2009, largely made up of book royalties, and paid 1.8 million dollars in federal income tax.