Biden: ‘I Make A Lot of Money Now As Vice President…A Lot of Money’

By Penny Starr | April 7, 2015 | 4:15pm EDT

( – Speaking at the Department of Housing and Urban Development (HUD) in Washington, D.C. on Tuesday about affordable housing, Vice President Joe Biden said home ownership helped him pay for his children’s college education, even if that would not be the case today because of the amount of money he earns.

“I make a lot of money now as vice president – I make a lot of money,” Biden said. “When the president was thanking everyone for the sacrifices they made when they got us all in the Blair House -- after he took office -- and the financial sacrifices they made, he looked at me and said, ‘Except for Joe, he’s getting a pay raise.’”

Biden’s salary for 2015 is $230,700.  As a U.S. senator, prior to his vice presidential position starting in 2009, Joe Biden made $169,300 a year. (U.S. senators today make $174,000; the 2013 U.S. median household income was $51,915. )

The HUD event was staged for April, which is Fair Housing Month, as a way for the Obama administration to advance its agenda to increase government funding and private sector investment in “affordable housing” in the United States and around the world.

“A recent study by the McKinsey Global Institute estimates that 330 million urban households around the world live in substandard housing or are financially stretched by housing costs,” the literature distributed at the event states. “Here in the U.S. for the 11.5 million extremely low-income households in 2012 there were only 3.3 million rental unites affordable and available to them.”

In his keynote address, Biden said home ownership is what allows the middle class to prosper and pass on that prosperity to their children.

The vice presidential mansion in Washington, D.C., the Naval Observatory Residence. (Photo: The White House)

“Home ownership is how most middle-class families save,” said Biden, who owns a home in Delaware but who lives for free in the massive vice presidential mansion in Washington, D.C.

“It’s how most middle-class families build assets,” Biden said. “And for many, it’s the way you send your kid to college.”

“That’s how I got my children to college,” Biden said, adding, "And I make a lot of money now as vice president, I make a lot of money."

In an April 1 press release issued by HUD to announce a media campaign on housing discrimination in conjunction with Fair Housing Month, Secretary Julian Castro said every American should have housing, regardless of “who they love” or “how they speak.”

Aerial view of Vice President Joe Biden's home in Wilmington, Delaware. (Photo:

“Every American deserves a fair chance to secure safe and stable housing,” Castro said.  “At the core of everything we do to improve housing opportunities is a firm belief that no family should ever be denied the opportunity to own or rent a home because of what they look like, where they come from, how they get around, how they speak, who they love and other circumstances of life.”

“HUD’s fair housing efforts level the playing field so that folks have a solid foundation upon which they can achieve their dreams and build for the future,” Castro said.

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