WASHINGTON (Sputnik) — Obama has between $1 million and $5 million in US Treasury notes and mutual funds, the documents reveal. The President also has between $200,000 and $400,000 in college savings accounts as well as income from three book contracts.
"The Ethics in Government Act of 1978 requires high-level federal officials to publicly disclose their personal financial interests," White House Press Secretary Josh Earnest said in a statement on Friday. "Neither the President nor the Vice President have any conflicts of interest."
Earnest explained that the President’s finances are published in annual disclosures, which are reviewed and certified by government ethics officials.
“The public filing system serves to prevent financial conflicts of interest by providing for a systematic review of the finances of government officials," Earnest said.
The President’s and the Vice President's reports, he added, have been reviewed and certified by the independent Office of Government Ethics.
"We are continuing this Administration's practice of posting these forms online here in the interests of transparency," Earnest noted.
The President's assets are almost unchanged in value compared with his 2014 disclosure report.
Vice President Joe Biden's maximum valuation is $1.1 million, his disclosure details show.
