Barack Obama Just Got Some Very Bad News About His Pension


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After serving the country for four to eight years, presidents are entitled to a pension.  This pension is supplied by the American taxpayers.  Each president gets the money regardless of performance, and that’s not including their paid appearances.  But Obama may be in for some bad news.

A bill is passing its way through Senate that significantly cuts these pensions.  It saves taxpayers millions each year.  On Wednesday, the Senate Committee on Homeland Security and Governmental Affairs passed it unanimously.

The bill was introduced by Iowa Senator Joni Ernst (R-Ia.).  Ernst said:

Our national debt now exceeds $20 trillion; this bipartisan effort is another important step toward reining in Washington’s out-of-control spending.

The bill caps a presidential pension at $200,000.  Remember those private appearances I told you about?  For every dollar above $400,000 at those private events, a dollar is taken off the pension.  Let’s put it in perspective.  This year, Obama gave a speech to the Northern Trust Corporation and he made $400,000.  That was on the low side of his appearances.

Obviously, a pension is relatively obsolete at this point.  Presidents can make their pension and then some in less than three hours.

 

Here’s the funny part.

In Obama’s last year in office, a similar bill regarding presidential pension was pushed forward.  President Barack Obama vetoed it at the last second.  Michelle’s vacations aren’t going to pay for themselves!

According to the New York Post, Obama is our most expensive ex-president to date.

Ex-President Barack Obama will be the costliest former commander-in-chief, with taxpayers shelling out $1,153,000 for his expenses in 2018, according to the Congressional Research Service.

His budget request is more than $100,000 higher than George W. Bush’s for next year and nearly $200,000 more than Bill Clinton’s expected budget.

George H.W. Bush is slated to get $942,000, while Jimmy Carter will get less than half that, at just $456,000, according to a memo prepared by the service, which was first reported by the Washington Times.

All living former presidents get an office, expenses and, in some cases, an annual pension payment, because of a 1950s-era law enacted after President Harry Truman turned out to be broke after leaving the White House.

The pension rehaul should be no issue for President Trump.  Trump has already made significant cuts to the White House budget.

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