After Racking Up Record Federal Debt, Obama Wants To Do This FOR HIMSELF After He Leaves Office

After Racking Up Record Federal Debt, Obama Wants To Do This FOR HIMSELF After He Leaves Office–15gh., b26

In his final budget request, Obama is asking for a significant increase — more than half a million dollars a year — in what the country spends on ex-occupants of the Oval Office, according to the Washington Free Beacon.

Since, by this time next year, those exes will include Barack Obama himself, it’s safe to conclude the request isn’t entirely a selfless one. And it won’t be a cheap one for American taxpayers already struggling with the problems presented by a lackluster economy.

But why should a guy who’ll be leaving office with a projected $20 trillion national debt that’s more than double what it was when he came in be expected to worry about things like that?

Former living presidents — there are currently four of them — already collect a pension of more than $200,000 a year, according to the Free Beacon. It was $203,700 in 2015 and rose $2,000 for 2016. But the country’s spending on its former top executives goes way beyond the base pension, since the federal government also covers office rentals, mailing privileges, travel funds and other expenses.

With less than a year to go for him to continue plunging America ever deeper into debt, President Obama is taking a big interest in the financial position of former United States presidents — a category he will fall into come January.

In his final budget request, Obama is asking for a significant increase — more than half a million dollars a year — in what the country spends on ex-occupants of the Oval Office,

In 2015, those costs varied from about $1 million for George W. Bush to $430,000 for Jimmy Carter, according to a report by the Congressional Research Service released Wednesday and cited by the Free Beacon.

With himself on the way to becoming living ex-president No. 5 come Jan. 20, 2017, Obama wants the federal government to spend even more on members of the world’s most exclusive club.

The Congressional Research Service report makes no bones about what — or rather who — the increased funding is for.

“The President’s FY2017 budget request seeks $3,865,000 in appropriations for expenditures for former Presidents, an increase of $588,000 (17.9%) from the FY2016 appropriation level. The increase in requested appropriations for FY2017 anticipates President Barack Obama’s transition from incumbent to former President.”

 

Just a glance at Bill Clinton’s post-White House speaking career will show why. Clinton took in $132 million in speaking fees between 2001 and 2015, reported the Free Beacon. Last year alone, he got $925,000 in pension and benefits, the paper noted.

“The former presidents are making gobs of money speaking and writing books, more power to them, but that doesn’t mean they need more taxpayer dollars on top of that.

“It’s embarrassing that they take that money.”

Barack Obama is already a millionaire many times over. But judging by his request for the cash-strapped country to spend even more money on ex-presidents, once they include himself, Obama doesn’t seem embarrassed at all.

 

“For FY2016, President Obama requested and received appropriations of $3,277,000 for expenditures for former Presidents–an increase of $25,000 from FY2015 appropriated levels.”

The Former Presidents Act, enacted in 1958, provides living former presidents with a pension, office staff and support, funds for travel, Secret Service protection, and mailing privileges. It also provides benefits for presidential spouses. Currently, former presidents are awarded a pension equal to the salary of cabinet secretaries, which totaled $203,700 for the 2015 calendar year and was boosted by $2,000 for the current calendar year.

Republicans in the House and Senate have introduced legislation that would cap annual pensions for former presidents at $200,000. Additionally, the bills would cut each pension by a dollar for every dollar the former president earns over $400,000 in the private sector in a given year. The measure was approved by the House in January with bipartisan support.

source– joe saunders, wash free beacon,congressional research services,morgan chalfant, ap,

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s