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Obama’s Pension Needs To Go After Netflix Deal
Conservatives aren’t the only ones with reasonable gripes about the news that Barack and Michelle Obama have signed a multiyear production deal with Netflix.
Forget the increasing politicization of entertainment for a moment. Why are the taxpayers still laying out vast sums every year for pensions, health insurance, staff and office expenses for ex-presidents?
The Former Presidents Act was passed in 1958 in response to the plight of Harry Truman. A man of modest means with no savings, the 33rd president thought putting himself on a corporate payroll, endorsing products or otherwise profiting from his time in the White House would be dishonorable. Even the money he earned from writing his memoirs after paying ruinous taxes was minimal.
So Congress stepped in and provided the Trumans with pensions, health care and money for an office and staff. It also extended lifetime Secret Service protection to ex-presidents’ families.
But 60 years later, the law no longer makes sense.
This is it. We need to stop paying presidents after they leave office. This is our hard earned money flushed down the drain. People like the Obama's and Clintons have made more money than any political should and yet we are expended to pay their pension for LIFE??? Enough is enough.
Let us know what you think.
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3 Comments
No retirement. Hell they can only work, sorry, serve for 8 years then draw on taxpayers for 20 or not years. STOP IT NOW.
They serve 4-8 yrs. It’s not just the pension.The cost for the security details outways the pension.How about security for 2 yrs.By then the new person elected has been in place long enough to be the focus of any evil doers.For every 4years served, which is 1/5 of the 20 yrs most people work for a pension,you get 1/5 of the salary earned per year during your time in office,currently$400K.If you serve 8 years you get 2/5 of your annual salary. Continue health care for individual and spouse for life.All other benefits end.No $50K annual expense account,$100Knon taxable travel account and no$19K for entertainment.No free flights unless on govt. requested business.Most of us retire with a lot less and many of us downsize our lifestyle with retirement,so can they
I’ve always said this. We need people who work for us out of love of country not how rich they can get. They should be paid the average salary and only while in office.
Trump doesn’t even accept his salary.