What’s Biden Buying?

It's expensive to be the father of the bride

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DAVID LIENEMANN / WHITE HOUSE

Vice President Joe Biden at his daughter Ashley's wedding

Last year Vice President Joe Biden saw the wedding of his daughter Ashley to Philadelphia doctor Howard Krein. He also saw the bill.

According to financial-disclosure forms released Wednesday afternoon, Biden took out a home-equity line of credit valued between $100,001 and $250,000 in 2012 — his second in as many years. The 20-year line of credit from the Wilmington Savings Fund Society has an interest rate of 4.49% and replaces a $15,001 to $50,000 line of credit from 2011 from the same bank at a higher rate.

Biden hosted his daughter’s private wedding reception at his Wilmington, Del., home in June for the “bride and groom’s close family and friends,” according to a White House statement at the time.

(MORE: Our 50 Favorite Biden Moments)

On Monday, Biden joked about his relatively modest financial situation as opposed to his wealthy predecessors’ in a commencement address at the University of Pennsylvania.

“When I did my financial disclosure as Vice President the first time, the Washington Post said ‘It’s probable: no man has assumed the office of Vice President with fewer assets than Joe Biden,’” Biden said. “I hope they were talking financial assets. Then there was all this discussion why I had no money. I’ll tell you why I had no money: four years at Penn, three years of Syracuse, four years at Georgetown, three years at Yale, two years at Tulane, two years at Penn, and now a granddaughter at Penn.”

He brought the house down with the joke, “This is a much cheaper way to get a degree.”

— With reporting by Alex Rogers

129 comments
ChikuMisra
ChikuMisra

Look on the bright side. Two centuries ago, a Vice President of this country actually murdered a man while serving as veep. And I think the dude who got killed was in congress or not too far from it. So we are evolving as a species to be less barbaric. If Biden was actually murdering people, there would be a problem.

Loosenut2
Loosenut2

He's still making $26,400 in rent per year renting that cottage to the Secret Service. Imagine that, those guys are supposed to protect his sorry azz and he turns around and charges them rent.

TedSteiner
TedSteiner

Maybe he's hedging on toilet paper supplies, as he sees our economy going down the toilet like Venezuela's.

CappyAhab
CappyAhab

1 . Call Harry Reid

2. Get Reid skimming  and stealing pointers

3. Get bigger wallet

nightowl7395
nightowl7395

Ahh, it is so nice to see that he safely passed her and her cocaine habit along to someone who can afford to support it. Oh, that's right we aren't SUPPOSED to talk about Dem politicians children and their misdeeds, just Rethugs. Amirite?

JPM
JPM

All that expensive education wasted! He's still the most STUPID jerk in DC!

Jim1937
Jim1937

Of course he isn't making much money. There isn't much of a demand for buffoons who swallow their feet every time they open their mouth.

captainjerryhulick
captainjerryhulick

Fewer assets which include IQ.  The court jester is an embarrassment to the USA and every citizen only second to his burr head boss

rugerp90
rugerp90

He should get Dirty Harry Reid to cut him in on some land deals or Hillary to teach him about cattle futures!

libertees
libertees

What does he care? He's been using everyone else's money for over 40 years. 

JonCharlesAcker
JonCharlesAcker

Biden should have plenty of money. He only gives 1% or less to charity. He's fine with taking other people's money, but even Scrouge was more giving of his own than Biden.

lildoggy4u
lildoggy4u

They don't call him "Credit Card Joe" for nothing. Read about Joe's cozy relationship with Bank of America. Particularly its subsidiary MBNA. His son hired by them as a lobbyist fresh out of school. His state, Delaware is home to the credit card companies since he arranged for them to ease by all regulatory problems. He was also responsible for the “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005”—that actually made it harder for consumers to get protection under bankruptcy.

OttoVonmunson
OttoVonmunson

Check the NYT's archive as any real reporter might. You will find that honest Joe Biden did this 27 times before the 2008 election. Yes that's right, 27. He got a "special" deal every time too as did the Dear Leader when he bought his Chicago mansion. It was ok with Time and the msm then.

It's sad really. I am old enough to remember when Time was a real news magazine.

RobertMull
RobertMull

How much you want to bet he took the loan to make repairs to his house as he was running around with a shot gun firing it through doors and off the balcony and who know what the hell he hit. In-fact he may have hit his wife's breast implants just on the lefts side so now she is lopsided and he needs to get her all fixed up.

SusanDaniels
SusanDaniels

So, in addition to him being a buffoon, he also can't manage money. He has a wife who he brags is a doctor (Ph.D.) and a huge house and it's all for show.

BrucePal
BrucePal

...but this is still not enough cash to buy him any common sense.

margielyle
margielyle

Sounds like "friends of Angelo".  Biden is a bit long in the tooth to have a 20 year loan for anything and it seems that even though the principle increased dramatically the interest rate fell - and isn't much above what people in CA might expect for their jumbo (because the houses are mini) loan.

cbcnd1
cbcnd1

18 years in college and still dumb as a fence post!

buttaboom
buttaboom

Check out what he donates to charity.

Tighter than a frogs @ss under water, but has no problem saying it is un-American not to want to pay more taxes. Progressive socialism works great until there is no money left to take from successful hard working people.

fulredy
fulredy

Biden is not smart enough to be financially successful.  He's been feeding at the public trough his entire adult life.

dunedweller
dunedweller

It's refreshing to hear of a public servant at the VP level who can't just throw down money on a whim. Joe seems to be in the universe of regular people and I've always liked that about him. Jill is great too -- I'd assume her income plays into this as it's her daughter. Wishing them the best, and keep representing Joe!!

ChrissMarkey
ChrissMarkey

What a surprise. A lofty left loon-bin borrows to pay for something he can't afford by a mile.

ShaquilaLatoyette
ShaquilaLatoyette

Criminal defense attornies demand their fees up front. Biden is starting his defense fund. Move along. It's a private matter....

ShaquilaLatoyette
ShaquilaLatoyette

He is getting money to lawyer up. Criminal defense attornies want their money up front ...

StanleySteamer
StanleySteamer

He has high hopes for his future if he's borrowing against his house. What a fool.

CrystalPowell
CrystalPowell

id love to see joe on the court! he'd be excellent!

JohnMoser
JohnMoser

That's a lot of sheep skin for an idiot.

jkled
jkled

@JPM I don't see your point.  I think your comments reflect your very deep Republican beliefs and roots.  Too bad for your negativity.

reallife
reallife

 @JPM  just imagine if the other one gets impeached!

we'd go from a lier to a moron

he's obama's insurance policy!


jkled
jkled

@cbcnd1 I think your thought might indicate that  in truth you and the fence post have a lot in common.

DannyRoss
DannyRoss

@cbcnd1 He is alluding to having paid the bill for his kids' education. 

Loosenut2
Loosenut2

@tkulaga @Loosenut2 He claimed$26,679 in Home Mortgage Interest Paid (Line 10 of Schedule A). He also deducted mortgage interest paid on his Schedule E of the rental property of $6,027, and total deductions on Scheule A of $62,390. On Schedule B his tax interest includes $4 from a Federal Credit Union.

   So his monthly mortgage payment is $2,222.25.

mantisdragon91
mantisdragon91

@reallife @JPM As opposed to the last bunch were we would be going from a former Coke Head to a convicted War Criminal

mantisdragon91
mantisdragon91

@Oboist That would be the guy who has never left the country since he left the White House for fear of being arrested,

Oboist
Oboist

And who was the "convicted war criminal"?