Bush has assets worth $20 million; Cheneys own $94 million

Washington, May 16 (UNI) US President George Bush and his wife, Laura, had assets valued between 7.2 million and 20.9 million dollars last year, up from as much as 18.1 million dollars a year earlier.

Mr Bush, who says his economic policies have helped Americans increase their wealth, is still making up ground from the start of his first term in 2001, when he and his wife reported assets of as much as 24 million dollars, according to the Washington Post today, citing annual disclosure forms released last night.

Vice Dick President Cheney disclosed assets worth as much as 94.6 million dollars in 2005.

Most of the Bushes' wealth was in real estate and a diversified trust, which combined were worth as much as 10 million dollars, the 18-page statement showed. Much of the rest of their holdings were US Treasury notes and certificates of deposit.

The 1,583-acre Bush ranch near Crawford, Texas was estimated to be worth anywhere between one million and 5 million dollars, the same range given in last year's filing. Bush also disclosed a health savings account worth as much as 15,000 dollars and a 401(k) retirement plan from his days as Texas governor valued at as much as 250,000 dollars.

Mr Bush, 59, reported receiving gifts including a 400 dollar pair of binoculars from Cheney and his wife, Lynne; an Apple Computer Inc.

iPod music player and a book titled "The Message: The Bible in Contemporary Language," written by Eugene H. Peterson, from U2 lead singer Bono; and a chain saw, with accessories, from Home Depot Inc.

President Robert Nardelli.

The US President paid 187,768 dollars in taxes on taxable income last year of 618,694 dollars, according to returns the White House released last month. The president draws a salary of 400,000 dollars.

The Post report says that Mr Bush made his fortune as part owner of the Texas Rangers major league baseball team. His initial investment of 530,000 dollars in 1989 soared to almost 15 million dollars when he sold his share of the team to venture capitalist Tom Hicks in 1998.

The biggest assets Mr Cheney reported for last year were mutual fund holdings in the American Century Investments International Bond Fund and the Vanguard Group's Short-Term Tax-Exempt Fund Admiral Shares, each valued at between 5 million and 25 million dollars.

The Cheneys reported owing 529,636 dollars on taxable income of 1,961,157 dollars in 2005, according to their tax return, released last month. The couple's total income in 2005 was .8 million dollars, largely as a result of stock options Cheney, 65, received before stepping down as chairman of Houston-based Halliburton Co., the world's largest oil-field services company. He stepped down to run for vice president in 2000.

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