Previous press reports quoted hospital officials saying that Michelle Obama's duties increased substantially that year and that the amount included a one-time bonus payment. The salary is not out of line with those paid by other university hospitals, hospital officials have said.
Until 2005, the Obamas reported little or no dividend or interest income, despite salaries in excess of $200,000 a year. In addition to Michelle Obama's salary from the hospital, Barack Obama earned money as a part-time state senator as well as a law school lecturer and lawyer for a Chicago firm.
In his most recent book, "The Audacity of Hope," Barack Obama describes the financial trouble he faced after losing a 2000 race for a seat in the U.S. House of Representatives. He said that the campaign's demands "had left me more or less broke," and he described difficulty renting a car when in Los Angeles for the 2000 Democratic National Convention because his credit card was initially rejected.
The income pattern and the list of interest, dividends and charitable donations changed after his 2004 election, suggesting that the Obamas previously had little capital to spare for savings, investment or charity.
Although the Obamas had more money in 2005 and 2006, their returns show that they did not check off the $3 voluntary donation to the presidential election campaign fund, which helps underwrite the costs of campaigns. Obama has said in the past that he supports public financing of presidential campaigns.
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chuck.neubauer@latimes.com
tom.hamburger@latimes.com
