Congress plans to cancel Obama's government pension following news of $400,000 speaking fees and a $65 million book deal
By David Martosko | Daily Mail | May 5, 2017
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.
EDITOR’S NOTE: If it passes and Trump signs it, I hope it will apply to Bill Clinton as well. Clinton reportedly gets up to $1 million per speech. The Clintons don’t need a government pension because in addition to the exorbitant speaking fees Bill earns, Hillary is also getting high dollar amounts for the speeches she gives.
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