Joe Biden has serious financial woes. The man is essentially broke.
If things are going so well in America, you certainly wouldn’t know it from the finances of Joe Biden.
Thank goodness he has a few friends.
Biden took four vacations at the homes of wealthy supporters in 2023, none of which were listed as gifts on the forms signed by Biden. The annual paperwork must be submitted by federal officeholders — including judges and presidents — under the Ethics in Government Act of 1978.
Oh the irony. Biden’s attempt to break Trump financially have backfired. With the family front man out of pocket, Joe Biden finds himself in massive debt, as he owes over $815,000.
The Bidens’ debt consists of a term loan of about $15,000 borrowed against his home. In 2022! Two years into Biden’s presidency and the newly minted multi-millionaire borrowed that paltry amount of money? And more debt came from a loan against a mutual fund for about $50,000.
How is it that a guy who had money to “loan” to his brother, now doesn’t have a pot to piss in? Worse, the leader of the free world is beholden to two banks.
But if you think things are bad for the Biden, wait until November.
After Biden is evicted from the White House, his $400,000 salary drops to $225,000 pension. While there are perks, the Bidens will have to dramatically adjust their standard of living.
First, Hunter Biden could go to jail for his gun charges. And with the family’s chief funder under fire and unable to work his magical non-deals that brought millions to the family, Joey Demento has no outside income. Income certainly won’t come from book sales.
The man who supposedly sold millions of dollars in books only a few years ago revealed in his disclosure form that he has had no royalties from his two books: ‘Promises to Keep’ and ‘Promise Me, Dad’ this year.
Nobody bought Biden’s book when he declared book income, and they aren’t buying it now. Thus, the Bidens are draining their many bank accounts.
According to an Office of Government Ethics form, the Bidens reported assets between roughly $1 million and $2.6 million. And their liabilities range between approximately $350,000 and $850,000.
Most of their assets are tied up in the homes he’s purchased.
Can Dr. Jill save the family fortune?
Perhaps.
As for book sales, Dr Jill fared no better than her husband. She reported no royalties for her memoir ‘Where the Light Enters’. Perhaps the Biden should have had their books translated to Mandarin?
But Dr Jill did receive paltry royalties approaching $1,000 for her two children’s books: ‘Don’t Forget: God Bless Our Troops’ and ‘JOEY: The Story of Joe Biden.’
Ever the optimist, Dr. Jill has another children’s book coming out this July: ‘Willow the White House Cat’ about life at the executive mansion as seen through the eyes of the family pet.
This latest book could really bring the Biden’s financial fortunes back, huh?
Still, don’t feel bad for Dr. Jill however; because she’s covered. Dr. Jill receives a salary from Northern Virginia Community College, where she has been a professor since 2009. And in what has become standard for the Bidens, Dr. Jill did not disclose her salary from the college.
Biden is suffering under Biden.
Biden’s liabilities include a mortgage on his personal home carrying a balance between $250,001 and $500,000. The interest rate for the mortgage, which Biden incurred from TD Bank in 2013, is 3.375%. The president took out a home-equity loan in 2022 with a variable interest rate and a 10-year term, which rose to $100,000 to $250,000 from $15,001 to $50,000.
The president also reported having less cash in the bank than he did in the past year. 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.
Anybody think the media would admit that Biden is almost broke? They certainly took pride in ridiculing Trump for having to come up with hundreds of millions of dollars for frivolous lawsuits.
Let’s see if desperation causes the Bidens to unleash Hunter back into the grift game.
