Why should a president or congressman receive a lifetime pension that the taxpayers have to pay right? When you’re outside of office you should be done getting money from the taxpayers. When we quit our jobs we don’t continue to get paid by our former employer.
Luckily, it seems that the end to that will come soon!
From Fox News:
Representative Jody Hice (Republican, Georgia) is the sponsor of the bill. Hice has explained that the lifestyle of these former presidents means that taxpayers can actually be paying less out of pocket. He explained that Bill Clinton earned over $100 million in speaking fees alone. He also raked in $15 million from a giant book deal after he already left office. former President George W. Bush was granted $10 million for his own book deal.
Back in February, it was reported by the Financial Times that Penguin Random House came out on top of a bidding war with HarperCollins, Simon & Schster, and Macmillan in regards to the rights to books that are written separately by former President Barack Obama and his wife, former First Lady Michelle Obama. The bidding war exceeded $60 million.
Hice explained, “Because of these opportunities, it’s no longer necessary to provide taxpayer-funded support to former presidents in the same way as envisioned in 1958.”
In the last Congress, there was legislation passed that was oddly similar. It was vetoed by former President Barack Obama. He claimed that it didn’t provide enough transition time for compliance. He also claimed that he was in support of the concept of that bill and said that he would work with lawmakers on “improving” it. We all know that he didn’t want to give up his pension.
In reality, the measure only minimally reduces the pension for former presidents. Instead of $205,700, they would be receiving $200,000 annually. The bill also puts a cap allowance at $500,000. This amount will lessen in coming years to just $250,000. There is also a possibility that it will shrink even more, but that depends on how much a former president is earning annually.
It’s interesting to contrast our former presidents with our current president. Donald Trump decided to waive his presidential salary, showing that he was truly in it for the people of America. His goal in becoming President of the United States was never to make money. His goal is to make a difference and restore our country back to the great nation that it once was.
I am most assuredly in favor of this bill and would very pleased to see that entitlement completely abolished as stated.
It is not a lifetime employment. It is an elected position. The same should hold true for congressmen. Lifetime pension for minimal service is WRONG. IT was never supposed to be that way. Public office was supposed to be a service to the country, not a career with lifetime benefits. After they change the pensions for past presidents, they should then focus on pensions for Congress.
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Alex D is a conservative journalist, who covers all issues of importance for conservatives. He writes for Supreme Insider, Red State Nation, Defiant America, and Right Journalism. He brings attention and insight from what happens in the White House to the streets of American towns, because it all has an impact on our future, and the country left for our children. Exposing the truth is his ultimate goal, mixed with wit where it’s appropriate, and feels that journalism shouldn’t be censored. Join him & let’s spread the good word!