Obama Has Less Than $1,001 In Savings Account

President Obama has reported less than $1,001 in his savings account. The disclosure comes as part of the president's annual Executive Branch Personnel Public Financial Disclosure Report.

The only savings account listed by the president is a "JP Morgan Chase Private Client Asset Mgmt Savings Account," according to the disclosure reports.
However, President Obama claims between $51,002-$115,000 in a combined two checking accounts. His retirement accounts are far more substantial.

Obama does appear to be getting financially prepared to send his two daughters to college. According to the disclosure forms, the president has saved between $200,004-$400,000 in four college savings accounts. The president's daughers are 16 and 13.

As for income, the president has a source other than his taxpayer funded salary: book royalties. Last year, he made between $15,001-$50,000 off his book Dreams from My Father, $15,001-$50,000 from The Audacity of Hope, $15,001-$50,000 from Of Thee I Sing: A Letter to My Daughters (a childrens' book), and less than $201 off the abridged young adults version of Dream from My Father.