Thursday, 15 April 2010

Barack and Michelle Obama Double Income in 2009 to $5.5m

THE TELEGRAPH: President Barack Obama and his wife Michelle earned $5.5 million (£3.5 million) in 2009, more than twice their income in 2008, despite the economic recession.

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According to the White House, the increase in earnings was due to the sales of Mr Obama's books. Photograph: The Telegraph

Mr Obama has managed to develop a political career far more lucrative than those of his predecessors.

After the first year of his first term, President George W. Bush earned $894,800 and in his last year $936,111.

In his final year in office, President Bill Clinton netted just $417,467.
The Obamas' tax return, released by the White House on Thursday - the day all Americans have to file their tax returns - showed that the Obamas earned $5.5 million last year and paid nearly $1.8 million (£1.16 million) in federal income tax.

In 2008, the Obamas made just under $2.5 million. The White House said that the increase was due to increased sales of Mr Obama's books. >>> Toby Harnden in Washington | Thursday, April 15, 2010