Joe Biden's 'Net Worth' is NOT Something to Be Proud Of

In August of this year, a report surfaced about Joe Biden's net worth. Many newspapers including The Boston Globe printed the story. According to the articles, Joe Biden's net worth is . . . not much!OpenSecrets.orgestimates Biden's average net worth is $-52,493, which ranks him as the second least wealthy Senator. Most Democrats have presented this in a positive light and as an achievement, implying that Biden is an average ordinary 'joe' like the rest of the middle class folks.

Please allow me to disagree. Joe Biden is a 35 year veteran of the Senate. Yes, I understand he's endured tragedies in his life and that he has remained a down-to-earth person. I commend him for that. However, the point is that a senior Senator with access to a tremendous amount of information and resources (that the rest of us don't) should have been able to successfully capitalize on it without violating ethics or insider trading regulations.

Think through the logic with me. I am not alone in the belief that balancing the US budget should adhere to many of the guidelines thatresponsible individuals and families follow. Increasing spending in one area should correspond with either a decrease in other spending or an increase in income. All of us responsible citizens must either balance our check books at the end of the month or carry reasonable debt that is likely to be paid off in a meaningful time frame. Carrying large amounts of liability without a corresponding steady (and potential) increase in assets is not only an unsustainable long term strategy, it is downright detrimental to the stability of our families. That's precisely the reason so many American families are in financial trouble. Under a larger umbrella, the same is true in the case of our national security and stability. Carrying unreasonable deficit endangers our country's economic future.

Further, we should demand from our elected officials in the executive and legislative branches to remain relentless in their pursuit of creating, discovering and employing every potential opportunity to advance prosperity, education and stability of all citizens of this country. No stone should remain unturned in this endeavor. No good ideas should be spared in seeking this goal.

Here's my issue with Biden's net worth and those who tout this as a positive phenomenon. In any job interview, one must prove that he/she has experience in a related area, and that he/she has achieved success in implementing similar projects. For an elected official to be trusted with the country's economic matters, there must be proof that he/she has been able to achieve personal prosperity. Having reached middle class status is insufficient. Biden's annual salary automatically places him in the middle class.

None of us wants to live in an average America. We all want to live in an exceptional and prosperous America - a country where poverty strikes only those who are unwilling to work and strive for a better life. Who can lead the country in that direction? Only a person who has proven that he/she has achieved the same on a smaller personal scale. Biden has not proven that he can take advantage of the vast opportunities available to him as a Congressman to advance his net worth beyond the level of an average middle class individual. I am in no way implying that he should engage in shady and questionable transactions. My point is that working 35 years in one of the most powerful offices in the world naturally brings with it many opportunities: speaking engagements, books deals (which he has done), investment opportunities, etc.

I reject any argument that perhaps Biden does not have aspirations of getting wealthy. That is not the point. If you seek a job opportunity to teach others how to stay organized, you must provide proof that you are in fact an organized person yourself. If you interview for a personal trainer position, you must be a fit person yourself. If you plan to manage people's money as a financial advisor, you must prove that you are not using food stamps for your own family.

Therefore, I conclude that Joe Biden lacks the necessary vision, drive or expertise to positively advance the country economically. I don't believe I'm unreasonable in my expectation.