While he’s still in office, it’s a good time to ask taxpayers for a little more for retirement benefits.
In spite of the fact that Obama will earn a fortune in public speaking, books and other ventures after he leaves office, he’s still looking to increase his pension that will come from taxpayers’ pockets.
Republicans in the House and Senate introduced a bill that would cap annual pensions for former presidents at $200,000, and would cut each pension by a dollar for every dollar the former presidents earn in the private sector over $400,000 per year. The house approved the bill in January.
[pullquote align=”right” cite=”” link=”” color=”” class=”” size=””]“It’s pretty simple. You want a retirement and pension, it’s there. But if you’re going to go out and make enormous sums of money, then you don’t need taxpayer subsidies,” said Rep. Jason Chaffetz (R., Utah), who introduced the bill in the House. “It’s embarrassing that they take that money.“[/pullquote]
From FREE BEACON: President Obama sought to increase the amount of money available for the federal government to spend on former presidents in advance of his White House exit.
In his budget requests for fiscal years 2016 and 2017, Obama proposed hikes in the appropriations for expenditures of former presidents, according to a report from the Congressional Research Service published Wednesday.
The report, which discusses the pensions and other federal benefits offered to former commanders-in-chief by way of the Former Presidents Act, specifies that Obama’s 2017 budget proposes a nearly 18 percent hike in appropriations for expenditures of former presidents. He successfully requested an increase in such appropriations for fiscal year 2016.
“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,” the report reads.
“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.
(Read more at Free Beacon)
Sign up to get breaking news alerts from Dennis Michael Lynch.
Paul Ryan Meets With Money Kings Over Trump Dilemma