Move Allows President Trump to Take Obama’s Pension
Another Obama hypocrisy has come to light.
However, Trump might get the last laugh.
Remember when Obama called banks “the fat cats” and criticized the special interests? He was all about transparency. At least that’s the narrative he sold us.
He recently received $400,000 for a speech at the University of Chicago. In his speech, Obama denounced special interests.
The irony is that a “special interest”, Cantor-Fitzgerald paid his speech fees. The same bank also brags about the killing they made in healthcare investments. Who wants to wager Obamacare had a little something to do with that?
However, Obama probably never saw this move coming.
Last July, Obama used veto #12 to kill a bill limiting presidential pensions.
The bill capped pensions and allowable expenses. Given Obama’s supposed support of the “working man,” lawmakers were shocked when Obama shot the bill down.
As we all know, Obama left the White House and started living like a rock star.
Between million-dollar book deals, DC mansions, and speaking fees nearing half a million, Congress sees no need to fund the man any longer.
As USA Today reports:
So now that former president Barack Obama has decided to accept $400,000 for an upcoming Wall Street speech, the sponsors of that bill say they’ll reintroduce that bill in hopes that President Trump will sign it.
“The Obama hypocrisy on this issue is revealing,” said Rep. Jason Chaffetz, R-Utah, chairman of the House Oversight and Government Reform Committee and sponsor of the 2016 bill. “His veto was very self-serving.”
Chaffetz and Sen. Joni Ernst, R-Iowa, the sponsor of the companion Senate bill, say they will re-introduce the Presidential Allowance Modernization Act this month. The bill would cap presidential pensions at $200,000, with another $200,000 for expenses. But those payments would be reduced dollar-for-dollar once their outside income exceeds $400,000.
At the time the bill was first introduced, it was not a partisan issue. It passed both the House and Senate with flying colors. Congress assumed Obama would sign the bill as part of his legacy. There was no hint a veto could occur.
Obama may have surprised his fellow crooks, but he didn’t surprise conservatives. Obama longed to be a fat cat.
The Obamas clearly aren’t relying on a government pension to make ends meet.
According to the Financial Times, both Barack and Michelle signed a book deal worth $65 million. Add that to their Clinton-like speaking fees, and their nest egg is pretty secure. Undoubtedly, Obama can fund his Hollywood lifestyle without a meager government pension of ONE SPEAKING FEE.
In response to the USA Today report that Obama’s earnings could trigger congressional action, House Oversight and Government Reform Chair Jason Chaffetz responded:
— Jason Chaffetz (@jasoninthehouse) May 4, 2017
What about the other presidents?
We know Bill and Hillary Clinton are crooked. Therefore, their thoughts on presidential pensions mean very little. They’ve got the Clinton Foundation to bankroll them, anyway.
A spokesman for George H.W. Bush relayed Bush’s views. He does not oppose changes to the law and expects Congress will take action.
For all of our sake, let’s hope Congress takes that action soon. There is no reason to let Obama waste more tax payer dollars. He’s already cost us billions.