Joe Biden’s Personal Finance Records Revealed, Debts Close to $1 Million

(Daily360.com) The latest financial records of Joe and Jill Biden reveal that they are carrying an accumulated debt of almost $815,000, with most of it related to mortgage and equity loans on their Delaware home.

The Ethics in Government Act requires sitting presidents, vice presidents and their spouses to disclose their finances annually in order to avoid possible conflicts of interest.

Biden also holds a $50,000 loan against a mutual fund and a term loan of nearly $15,000.

In the financial disclosure, Biden also mentioned that he did not make any sale of his books in 2023.

Meanwhile, Jill Biden also struggled to sell her memoir “Where the Light Enters” and did not receive any royalty for this work in 2023.

The first lady also received a salary from the college where she teaches English, although her exact salary remains unknown.

Biden’s biggest financial liability is his home mortgage, taken out during his vice presidency in 2013. The president only disclosed the range of his mortgage, which currently stands somewhere between $250,001 and $500,000 with an interest rate of 3.375%. Biden also took a home equity loan after becoming the president in 2022.

The president’s personal cash reserves are also declining, as reported by the financial disclosures. In 2022, one of his bank accounts had a cash reserve of $250,000 to $500,000, which decreased to $50,000 to $100,000 in 2023. Another account with the cash of $100,000 to $250,000 in 2022 has now been reduced to $50,000 to $100,000.

Kamala Harris’s financial records also made headlines due to the gifts she received during her vice presidency.

Singing megastar, Beyoncé gifted the vice president two tickets worth $1655.92 for her concert in 2023.

Similarly, ESPN also gifted two tickets of $1,890 to the vice president for a football match.

Unlike Harris, Biden did not report any gifts.

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