We think not. The story is all over the Internet, but not any big, particularly trustworthy news source. And Gawker explains why it's unlikely. Our own reason: No one who ran the campaign Barack Obama did would turn around and spend five figures on a ring for his wife as a thank-you in the same universe in which the US has just officially be defined as being in a recession. No way.

Let's hope when he does get a little bling for his wife, Obama has better taste than to choose a — yawn — Tiffany eternity band. Something a little different would be nice. Like this Cathy Waterman ring (left) or the LFrank ring (below), both at Twist.

Both are classic enough to appeal to Michelle's taste but unusual and versatile enough to suit her proclivity for the quirky and individual piece. Neither is exactly a low-cost item, but I think most people would understand a very special gift for Michelle. Just not $30,000.