President Joe Biden Reportedly Has A Personal Debt Of Up To $815,000

President Joe Biden and First Lady Jill Biden reportedly have a personal debt of up to $815,000, mainly from mortgage and equity loans on their Delaware home.

Biden’s financial liabilities include a mortgage with TD Bank and a variable-rate home equity loan. Cash reserves have decreased compared to the previous year.

The president disclosing his finances comes as the administration plans a new $1 billion arms sale to Israel following a paused transfer due to Gaza concerns.

Following recent financial disclosures, as required under the Ethics in Government Act, Biden and his wife, Jill, are reportedly carrying a personal debt of up to $815,000.

According to the DailyMail, the majority of the couple’s debt is comprised of the mortgage on their Delaware home, which had a balance between $250,000 and $500,000, and a 2022 home equity loan secured by the property. Biden and Jill also have a $50,000 loan against a mutual fund and a $15,000 term loan.

The couple’s reported assets range between $1 million and $2.6 million, while liabilities fall between $350,000 and $850,000.

Furthermore, President Biden reported a decrease in cash reserves compared to the previous year. One of his bank accounts showed a balance ranging from $50,000 to $100,000, down from $250,000 to $500,000 the previous year.

Another account displayed $50,000 to $100,000 in cash, a decline from $100,000 to $250,000 reported a year earlier.

In his financial disclosure form, Biden indicated that he did not receive any royalties from his books “Promises to Keep” and “Promise Me, Dad” this year.

Jill also disclosed no royalties from her memoir “Where the Light Enters” but acknowledged royalties of up to $1,000 from her children’s books: “Don’t Forget: God Bless Our Troop” and “JOEY: The Story of Joe Biden.”

Furthermore, Jill Biden reported earning a salary from Northern Virginia Community College, where she has served as a professor since 2009. However, the specific amount was not disclosed.

According to the DailyMail, Vice President Kamala Harris, who along with her husband, Douglas Emhoff, are also required to disclose their finances, revealed that Beyoncé gifted her tickets to her 2023 concert in Washington D.C., valuing them at $1,655.92.

Additionally, Harris and Emhoff revealed that ESPN had provided them with tickets valued at $1,890 for Howard University’s football game against Florida A&M, a meaningful event for Harris as a graduate of Howard.

Emhoff also reportedly received income from Georgetown University, where he teaches a class, although he did not specify the amount.

He disclosed several investments, likely stemming from his tenure as a partner at DLA Piper. Emhoff left this position when Harris was elected vice president.

More recently, the Biden administration has informed key lawmakers of its intention to proceed with a new $1 billion arms and ammunition sale to Israel, as reported by three congressional aides.

This move marks the first advancement in weapons shipment to Israel since the administration halted another arms transfer earlier this month. The paused transfer consisted of 3,500 bombs weighing up to 2,000 pounds each.

The administration earlier cited concerns for civilian casualties in Gaza as the reason for halting the bomb transfer, aiming to prevent Israel from using those specific munitions in its offensive in the densely populated southern Gaza city of Rafah.

According to AP News, the anonymous congressional aides shared that the new package includes approximately $700 million for tank ammunition, $500 million for tactical vehicles, and $60 million for mortar rounds.

The debate between Trump and Biden has been scheduled for next month. Both political figures will face off in a historic showdown.

Biden confirmed his involvement in the debate on X: “I’ve received and accepted an invitation from @CNN for a debate on June 27th. Over to you, Donald. As you said: anywhere, any time, any place.”

Trump  also confirmed to CNN’s Kaitlan Collins that he is ready to debate Biden: “The answer is yes, I will accept.”

In a video, Biden directly challenged his predecessor to a debate, noting that Trump lost to him twice in 2020.

“Donald Trump lost two debates to me in 2020. Since then, he hasn’t shown up for a debate. Now he’s acting like he wants to debate me again,” Biden said.

“Well, make my day, pal; I’ll even do it twice. So let’s pick the dates, Donald – I hear you’re free on Wednesdays,” the president added,  alluding to Trump’s court schedule in his ongoing criminal trial.