According to financial records, Joe Biden owes up to $815,000--First Lady Jill also lost book royalties

 May 17, 2024

Their financial records show that President Joe Biden and First Lady Jill Biden are in debt $815,000. Also, no one is buying the president's books.

The mortgage on their Delaware home and an equity loan on that home make up most of their debt, as The Daily Mail reported. They also owe money on a term loan for about $15,000 and a loan against a mutual fund for about $50,000.

The Bidens said they had assets worth between $1 million and $2.6 million and debts worth between $350,000 and $850,000, according to a form from the Office of Government Ethics that gives ranges instead of exact numbers.

The Ethics in Government Act, which was made to avoid conflicts of interest, says that the Bidens' financial records, along with those of Vice President Kamala Harris and her husband Doug Emhoff, must be made public every year.

He says on his form that he hasn't gotten any earnings this year from his two books, "Promises to Keep" and "Promise Me, Dad."

Jill's Lack of Sales

Jill Biden did not report any royalties for her autobiography "Where the Light Enters." However, she did say that she did earn royalties of up to $1,000 for her two children's books, "Don't Forget: God Bless Our Troops" and "JOEY: The Story of Joe Biden."

In July, the first lady's second children's book, "Willow the White House Cat," will be released. It's about life at the White House from the point of view of the family cat.

Jill Biden also said that she was getting paid by Northern Virginia Community College, where she has been a teacher since 2009. She declined to disclose how much she had paid.

On Wednesday, the White House released the documents. The finances of Biden's Republican opponent, Donald Trump, have been in the news because of a number of court cases, including a hush-money case going on in New York right now.

Money Owed

Biden owes money, including a debt on his own home that is due between $250,001 and $500,000. Biden got a mortgage from TD Bank in 2013 and the interest rate on it is 3.375%.

The president got a home equity loan in 2022. The interest rate was changeable, and the term was 10 years. The loan amount went from $15,001 to $50,000 to $100,000 to $250,000 over that time.

The president also said that he had less cash on hand than he did a year ago.

One of his bank accounts showed a cash total of $50,000 to $100,000 from $250,000 to $500,000 last year. Another account showed $50,000 to $100,000 in cash, a drop from $100,000 to $250,000 a year earlier.

The Vice President's Financials

Harris said that Beyoncé gave her tickets to her show in Washington, D.C., in 2023. The tickets were worth $1,655.92 to her.

Along with Emhoff, she told him that ESPN had given her $1,890 worth of football tickets to Howard University's game against Florida A&M. Harris is a Howard dropout.

Emhoff said that Georgetown University, where he offers
a class, pays him earnings. He did not say how much money he earns.

He also talked about a number of businesses, most likely related to his time as a partner at DLA Piper. When Harris became vice president, he quit that job.

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