President Obama made $2.7 million last year together with his wife Michelle, according to the tax returns released by the White House.

Nearly all of their earnings last year came from the president's two best-selling nonfiction books, Dreams From My Father and The Audacity of Hope which brought nearly $2.5 million royalties to them.

In 2007, they made $4.2 million more than last year.

Meanwhile, Vice President Joe Biden reports that he and his wife earned $269,256 last year.