Obama's personal finances are sound, report shows

WASHINGTON (AP) — President Obama's personal finances appear to be on sound footing even as the nation's economy struggles, a financial report he released Friday shows.

Obama and his wife Michelle have $1.4 million to $5.9 million in assets, not counting their Chicago home. Their holdings include up to $265,000 in checking accounts.

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The president's new financial disclosure report mirrors one he filed a few months ago.

Much of the Obamas' wealth comes from the president's best-sellers. The books, "Dreams from My Father" and "The Audacity of Hope," brought in about $2.5 million in royalties last year, according to tax returns Obama released last month.
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The overall value of Obama's book deals isn't known; like past reports, his new financial report says the value isn't readily ascertainable.

The White House also released Vice President Joe Biden's new personal financial report. It shows Biden and his wife Jill have at least $119,000 to $615,000 in assets and $185,000 to $430,000 in debt.

Under ethics rules, the values of assets and debts can be described in broad ranges rather than in exact amounts.
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