CNN/Youtube Democartic Presidential Debate - July 23, 2007

The CNN-YouTube debate in Charleston, South Carolina, Monday night, hosted by CNN's Anderson Cooper, begins at 7 p.m. ET.

First debate transcript and NYTimes, SC State U, Orangeburg, SC, April 26:

Second Debate transcript

Third debate transcript from NYT, Howard U, Wahington, D.C., June 28. Of course NYT does not work for me.

Steve Grove Youtube political director.

Richardson chat link Starts at 6:30.

cnn.com/youtubedebate.


One remark that caught my ear was Biden's claim of a very low net worth.

I found a CNN article.

The least wealthy candidates in the race, among those who have reported, are Sen. Joe Biden, D-Delaware, former Arkansas Gov. Mike Huckabee, a Republican, and former Sen.Mike Gravel, D-Alaska.

While Huckabee and Gravel reported assets into the six figures, Biden, who has been serving in the Senate since he was 30, told the FEC that his assets were only between $62,000 and $405,000, with liabilities of between $140,000 and $365,000.

His only reported income in 2006, in addition to his $165,000 Senate salary, interests and dividends, was $28,700 for teaching at Widener University in Pennsylvania.

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In the FEC reports, candidates are not required to list certain assets, such as primary residences and other property owned for non-investment purposes. The reports include personal financial information for candidates, spouses and dependent children.

Here are excerpts from a Concord Monitor article.

Unlike some other candidates who worked in the private sector before entering politics, Delaware Sen. Joe Biden has spent most of his professional life in public service. He was elected to the Senate in 1972, at age 29, and has served for the past 35 years. The Washington Post recently estimated Biden's net worth at between $100,000 and $150,000. In 2005, the website opensecrets.org ranked his wealth at 99th among the 100 members of the Senate.

Biden's Senate salary is $165,200, according to May filings with the Federal Election Commission. He earns an additional $20,500 a year as an adjunct professor of law at Widener University School of Law at its Wilmington, Del., campus. According to a school spokeswoman, Biden has taught or co-taught a Saturday morning seminar called Selected Topics in Constitutional Law for about 16 years.

Biden's wife, Jill, teaches at Delaware Technical and Community College.

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Biden's other assets are mainly investments, cash accounts and retirement accounts, including about a dozen funds, most of which are valued at less than $15,000. A couple of assets, including his Delaware state pension plan, are valued between $15,000 and $50,000.

He also lists a couple of small loans and lines of credit, including a loan against the value of life insurance policies and a signature note from the U.S. Senate Employees Federal Credit Union. He was a co-signer with his son on a line of credit used to pay his son's college expenses.

I find this information very hard to believe. At a salary level of $165,000 he should have been able to amass a much larger net worth. Besides his salary, he is founder of at least 2 law firms, one of which, Oldaker Biden & Belair, is active in his campaign.

Biden lives in Wilmington, DE. Found two addresses on whitepages.com

Biden, Joseph R     more info
1308 Delaware Ave
Wilmington, DE 19806-4740
(302) 429-1900


Biden, Joseph R   more info
1105 N Market St
Wilmington, DE 19801-1216
(302) 573-6345
    

Look up these homes on Zillow.

Could not find 1308 Delaware Ave. Homes near by listed for $187K to $375K. Could not find 1105 N Market St either. Homes near by listed for $115K to $400K.