News Column

Obama, Biden Disclose Finances

May 15, 2013

U.S. President Barack Obama released a financial disclosure form Wednesday showing considerable income from book royalties.

The president reported several million dollars in assets, mostly in mutual funds. His press secretary, Jay Carney, said Obama and Vice President Joe Biden, who also released a disclosure form, have no financial conflicts of interest.

Obama said his 1995 memoir, "Dreams From My Father: A Story of Race and Inheritance," brought in between $100,000 and $1 million in royalties in 2012 as did his 2009 children's book, "Of Thee I Sing," written before he became president. "The Audacity of Hope," published in 2006 is less lucrative, earning between $50,000 and $100,000 in 2012.

Biden's forms showed his assets are smaller than the president's, mostly amounts of a few thousand dollars in a range of mutual funds and bank accounts. His book royalties are also close to zero.




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Source: Copyright UPI 2013


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