Republicans in Congress, tired of seeing Democrats like Hillary Clinton and Barack Obama get rich from book deals and speaking fees, are looking to pass a law that could eliminate presidential pensions. Republicans tried to get the same law passed last year, but it was vetoed by Obama himself.
President Obama’s hypocrisy in criticizing wealth while protecting his own pension was obvious, even to his supporters. Many congressional Democrats are ready to support a law that would reduce, or even eliminate, an ex-President’s pension if they earn too much money in private life.
You don’t hear Barack Obama lecturing about “spreading the wealth” right now, do you?
Congress could soon throw a monkey-wrench into Barack Obama’s retirement finances, yanking his presidential pension since he is reportedly cashing in with six-figure speaking fees. Former presidents currently receive $207,800 per year, the same amount cabinet secretaries are paid.
But lawmakers are considering a move to shrink that payment – dollar for dollar – for Oval Office retirees who collect more than $400,000 in income.
Last year Obama vetoed a bill that did just that.
‘The Obama hypocrisy on this issue is revealing,’ Utah Republican Rep. Jason Chaffetz told USA Today. ‘His veto was very self-serving.’
Chaffetz and Iowa Republican Sen. Joni Ernst plan to reintroduce the legislation soon.
The ranking Democrat on the House Oversight committee, Elijah Cummings, likely won’t stand in their way.
‘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,’ his spokeswoman Jennifer Hoffman Werner said.
President Donald Trump has said he will not accept a salary during his time in office. It’s unclear whether he could collect a pension after his tenure comes to an end.
Obama is collecting $400,000 per speech. And he and former first lady Michelle Obama have reportedly signed a two-book publishing contract worth $65 million.
President Obama and his wife Michelle have always shown a taste for the finer things, including taking lavish vacations. They also enjoy eating expensive foods while lecturing America about what they eat. While there is nothing wrong with wanting the finer things in life, the Obamas may have to do it without a pension paid for by taxpayers.
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