Obama Puts His Money Where His Mouth Is, In U.S. Government

May 16, 2011

The White House released financial disclosure forms Monday for both President Obama and Vice President Biden.

Worth noting, especially on this day when the U.S. government reached its debt limit, is that the president, who was made wealthy by the success of his best-selling books, appears to be doing his part to help fund the highly indebted U.S. government.

He has between $1 million and $5 million invested in U.S. Treasury bills, short-term securities that mature in, at most, a year and don't pay interest until maturity.

He also has a similar amount invested in Treasury notes which have longer-term maturities and pay interest until they mature.

The first family also received between $1 million and $5 million in income from "Dreams of My Father" and less than $1 million for "The Audacity of Hope."

The Obamas also have two 529 college savings plan accounts, one for each daughter, with between $100,101 and $250,000 invested in them.

Oh, and then there's that weird perennial that shows up on presidential disclosure forms which will come as news to some people. First ladies receive a $10,000 annuity during their husband's term from the will of one Henry G. Freeman Jr. who died in 1917.

The The vice president has yet to hit the best-selling book lottery, or any other financial lottery for that matter. His disclosure reports that his 2007 "Promises to Keep" autobiography provided no more than $201 in income in 2010 if any at all.

So he has much less wealth than the president though he has something the president doesn't report on his disclosure, a number of life insurance policies with Mass Mutual that pay relatively modest dividends. Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.