Inside The Obama And Biden Financial Disclosures
You just had a good look at your financial situation last month, when you did your tax return. Now you can check out the government's official financial reports on President Barack Obama and Vice President Joe Biden.
Federal elected officials, candidates and high-level bureaucrats have to file annual financial disclosure statements. The Obamas and Bidens submitted their 2014 reports this week.
The numbers aren't terribly exciting, compared with financial disclosures by some members of the House and Senate. Most lawmakers are millionaires, although some others are in debt. The wealthiest, Rep. Darrell Issa, R-Calif., had assets of roughly $450 million in 2013.
Meanwhile, down Pennsylvania Avenue, the president continues to earn royalties of $15,001 to $50,000 on each of his books: Dreams From My Father, The Audacity of Hope and Of Thee I Sing: A Letter to My Daughters. After-tax income from Of Thee I Sing goes to a scholarship fund for children of armed services members who were killed or disabled.
The Associated Press calculates that Barack and Michelle Obama's assets in 2014 ranged between $1.9 million and $6.9 million. Their biggest investment was in Treasury notes. Other investments are about as conservative. There's nothing more exciting — or potentially conflict-of-interest material — than an index fund. The Obamas have pre-paid 529 college accounts for daughters Sasha and Malia. Their Chicago home has a 30-year, 5.625-percent mortage, valued between $500,001 and $1 million.
Joe and Jill Biden reported assets of $277,000 to $1.1 million, the AP reported. Their biggest source of investment income: a rental property in Wilmington, Del., bringing in between $15,001 and $50,000 in 2014.
The Bidens got a better mortgage than the Obamas did: 30 years at 3.375 percent.