According to financial disclosure reports, President Obama has an estimated net worth of $7 million dollars.
As reported by the International Business Times:
President Barack Obama and first lady Michelle Obama listed assets worth between $2 million and $7 million for 2013, of which $1 million to $5 million were in Treasury notes, according to financial disclosure forms released Thursday.
Let me be clear, there is nothing wrong with being a millionaire. The United States is home to the most millionaires because of the kind of opportunity it offers to hard-working entrepreneurs.
While the average US citizen has a median income of roughly $51,000, Obama rakes in the cash with an annual presidential salary of $400,000. In addition, he receives money from book royalties and other investments.
Hypocrisy isn’t a stranger to the liberal elite. Michael Moore’s fifty milliondollar fortune came from creating documentaries that makes free enterprise look like the same as corporatism.
The activist left said Mitt Romney was too rich to be president, but had no problem supporting John “I’m Wealthier Than Romney” Kerry when he ran for the same post in 2004.
Under President Obama, income inequality has increased dramatically. Asreported here earlier, of the last three presidents, “the income gap didn’t change overall during the Bush years, increased second most during Clinton’s time, and has increased the most with only 5 years under Obama’s belt.”