A deposition given by Hunter Biden earlier this year and released this week has reignited political debate over the Biden family’s finances and business activities during Joe Biden’s time in office.
In testimony taken in February, Hunter Biden stated under oath that he and his family are financially depleted. “My family doesn’t have any money, and it’s not their debt anyway,” Hunter said in the deposition, which was made public by his legal team. He added that he owns no assets of value beyond paintings he created himself, stating, “I don’t even have any other assets at all, stocks, bonds, anything like that, savings accounts.”
The testimony grew more specific as Hunter elaborated on his financial position. “I don’t have any assets,” he said. “I don’t own a car. I don’t own a phone.”
Former President’s Financial Situation
Joe Biden’s post-presidency finances have also drawn attention. According to reporting by The Wall Street Journal in September 2025, the former president has faced more difficulty than his predecessors in capitalizing on his White House tenure. A source familiar with his finances indicated Biden left office approximately $800,000 in debt, with increasing property taxes on his $2.7 million Delaware residence.
The former president has reportedly struggled to secure paid speaking engagements, attributed in part to low public approval ratings. Biden does continue to receive more than $400,000 annually in government pensions, according to the National Taxpayers Union Foundation, though this represents a stark contrast to the income the family reportedly generated while he held office.
Years of Political Controversy
The Biden family’s business dealings have been a subject of Republican criticism throughout Joe Biden’s presidency. House Republicans investigated what they characterized as an influence-peddling operation, with Hunter Biden’s foreign business activities at the center of the scrutiny.
During Joe Biden’s presidency, the White House consistently denied any impropriety in the family’s business dealings, maintaining that no rules were broken and that the president never discussed business matters with his son or Hunter’s associates. Those denials came despite testimony from some of Hunter’s former business partners and the existence of business records that Republicans argued told a different story.
Congressional Republicans pointed to evidence including text messages, financial records, and witness testimony suggesting Joe Biden had more involvement in his son’s business activities than publicly acknowledged. House Republicans pursued impeachment inquiries, though those efforts ultimately did not result in formal articles of impeachment.
Political Implications
The timing of Hunter Biden’s financial disclosure has sparked fresh commentary from conservative critics who view the family’s current financial state as confirmation of their long-standing allegations. The argument being advanced is that the contrast between the Biden family’s income during Joe Biden’s time in office and their current financial struggles indicates they benefited from access to power.
The deposition was released amid ongoing legal challenges for Hunter Biden, who has faced multiple criminal prosecutions related to tax issues and firearms charges in recent years. His legal team’s decision to release the February testimony comes as he continues to navigate the legal system without the protection of his father’s presidential pardon power.
The revelations are likely to continue fueling political debate about ethics, family business dealings, and conflicts of interest in high-level government service, particularly as the 2026 midterm elections approach.
Source: pjmedia.com — https://pjmedia.com/matt-margolis/2026/08/01/what-hunter-bidens-admission-tells-us-about-the-biden-crime-family-n4955698
This article is for informational purposes only and does not constitute financial, investment, tax, or legal advice. Do your own research and consult a licensed professional before making financial decisions.
