WASHINGTON - US President Barack Obama and his wife Michelle made nearly 2.7 million US dollars last year, the White House announced on Wednesday. According to the 2008 federal income tax returns released by the White House, the President and the First Lady reported an adjusted gross income of 2,656,902 dollars, and paid 855,323 dollars in federal income tax. The vast majority of the Obama familys 2008 income is the proceeds from the sale of the Presidents books, Dreams From My Father and The Audacity of Hope, whose sales value reached almost 2.5 million dollars in the presidential election year. Although their earning is far more than the US median household income, at about 50,000 dollars, it is much less than what the Obamas made in 2007, at 4.2 million dollars. The couple, who just moved in the White House from Chicago early this year, also released their Illinois income tax return and reported paying 77,883 dollars in state income taxes.