Questions about the financial disclosures of President Joe Biden have surfaced recently following the claims that there was a significant decrease in his cash holdings over the past year.
Fox News news personality Jesse Watters kicked off the discussion regarding Joe's perplexing cash flow, claiming the POTUS had approximately $2 million in cash in 2022 and only $1.4 million in 2023. The shocking decline baffled his supporters and critics.
Jesse, for one, wondered how the President of the United States, who had a steady income and limited expenses, could witness such rapid loss of cash reserves. It was noted that Joe owns two homes with low mortgage rates and his position as he most powerful figure in the United States of America covers most of his personal expenses. Despite that, Joe reportedly took out a $250,000 line of credit on one of his properties.
The political commentator raised possible reasons behind Joe’s rapidly depleting cash resource. Jesse claimed part of the president’s fund might be used to pay legal fees related to the ongoing special counsel investigation or to support the lifestyle of his son, Hunter, who faces legal challenges.
Most, if not all, are aware that Hunter will face a felony gun charge in Delaware on June 3 and tax charges in Los Angeles on June 20. Jesse claimed that Joe is worried about the possible sentencing of his son and how would that affect his life in general.
“He worries about Hunter every single day from the moment he wakes up to the moment he goes to sleep. That will only pick up during a trial,” Jesse stated on his show.
Other reports suggested that the financial resources of Hunter are strained. Kevin Morris, his lawyer, allegedly no longer has the capacity to provide Hunter financial support. The financial troubles, as per reports, has left Joe’s son struggling to cover his legal expenses.
To recall, the US Department of Justice reached a two-part plea agreement with Hunter's legal team in June. Under the agreement, he would be charged with two misdemeanour counts for failing to pay his taxes on time in 2017 and 2018.
BBC reported Hunter was also required to admit to illegally possessing a gun while using drugs, as well as submit to drug treatment and monitoring in lieu of a more serious felony charge and potential jail time.
Republicans claimed the president's son was getting a "sweetheart deal". That assertion was supported by two tax investigators who testified before Congress that they believed political concerns impeded the investigation and benefited Mr. Biden.
At a hearing in Delaware in August, the bargain reached over several months was collapsed under the scrutiny of the federal court supervising the case. Both sides negotiated unsuccessfully in front of reporters before District Judge Maryellen Noreika declined to "rubber-stamp" what she deemed a "atypical" arrangement.
Meawhile, netizens were quick to react to Jesse’s claims about Joe’s financial status. “Because he can’t launder any money or he would get caught. The middle man is under scrutiny and can’t do anything to make the crooked deals,” one X (formerly known as Twitter) user claimed.
“Secrets cost lots of money,” another X user said.
“There needs to be an accountability for all the money he spending. Period,” a third X user wrote.
“He is just getting ready for the banking crisis brought on by the weaponization of sanctions and the de-dollarization of global currency. Then, the central bank currency will be implemented so no one can buy groceries if they watch Fox,” another X user added.
Interestingly, the purported depletion of President Joe Biden's cash reserves occurs at a time when he is under severe scrutiny as one of the leading candidates in the 2016 presidential race. While the White House has yet to respond to the charges concerning the president's stated cash holdings, his detractors have used these financial reports to challenge his financial management and transparency.
