Book Sales Drop, Contribute to Decline in Obamas' Income
As President Barack Obama's approval ratings decline, so have sales of his two blockbuster books.
As a result, the Obamas made nearly $130,000 less last year than they did in 2013.
President Obama and first lady Michelle Obama earned "$481,098 in 2013 and paid $98,169 in taxes." The Hill reports that the couple's earnings "dropped significantly due to weakening sales of the president's books. In 2012, the Obamas reported $608,611 in income."
Obama has stated many times that his two books, Dreams From My Father and Audacity of Hope, helped the couple pay off their loans, as the books flew off the shelves after his Democratic National Convention speech in 2004, election to the U.S. Senate, and presidential run and election in 2008.
The Obamas "also reported nearly $60,000 in gifts to charity — substantially down from the $150,000 they gave in 2012, and the $172,000 they donated in 2011." Their largest charitable donation was to the Fisher House Foundation.