Former president Barack Obama is now collecting $400,000 for every speech he makes. On top of that, he and former first lady Michelle Obama have reportedly signed a two-book publishing deal worth $65 million.
So, what does this mean for his government pension? Adios.
Former presidents receive $207,800 per year, but lawmakers are now cutting that figure for retirees who make more than a $400,000 annual income. Ironically, Obama vetoed a bill with these suggestions last year and now we know why he made the decision.
‘The Obama hypocrisy on this issue is revealing,” Utah Republican representative Jason Chaffetz told USA Today. “His veto was very self-serving.”
Chaffetz, along with Iowa Republican senator Joni Ernst, said they will reintroduce the legislation and it’s unlikely other Democrats will try to stop it.
“[House Oversight Committee Democrat Elijah] Cummings definitely supports the concept, and if we can work out the technical issues with the bill that arose late in the last Congress, we expect he would strongly support it again,” spokeswoman Jennifer Hoffman Werner said.
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