PAYBACK: Trump Will Get Chance to Slash Obama’s Pension
The man making $400,000 speeches doesn’t need the taxpayer’s hard-earned dollars.
After how Obama performed, for him to get a pension is adding insult to injury. The man who changed the law to get Secret Service protection for life, also wants the presidential pension “chump change”, despite making more in one speech than the pension pays annually.
So Wall Street isn’t the only fat cat milking the taxpayers. Obama preached about helping Main Street versus Wall Street. And yet who benefited most from his presidency? Wall Street.
Obama promised to go after Wall Street fat cats.
Furthermore, he talked about transparency and trust. Yet, it was just the narrative he was selling because when given the chance, Obama used the power of veto to block a bill closely aligned with his so-called beliefs. In fact, it was Veto #12 for all you fact-checkers out there. The bill was designed to cap pensions and allowable expenses.
Given Obama’s supposed support of the working man, lawmakers were shocked when the former president squashed the bill. Apparently, Obama wanted no limit to his fleecing of the taxpayers.
As we explained in June:
Obama 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?
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.
President on Board
When a guy donates his presidential salary and is a spendthrift as President Trump is, Obama had to know that eventually the gravy train would end. Trump runs the government responsibly, and not like a politician. Justify why the taxpayers should fund a wealthy ex-president like Obama?
Corporations can’t spend profits the don’t earn. So why should government?
As The Daily Caller reports:
The update to the Former Presidents Act would reduce how much former presidents receive in pension from the taxpayers and reduce total amount of money taxpayers contribute to former commanders in chief.
“Our national debt now exceeds $20 trillion; this bipartisan effort is another important step toward reigning in Washington’s out-of-control spending,” Iowa Republican Sen. Joni Ernst, sponsor of the Senate legislation, said in a statement.
“It is ridiculous to continue asking taxpayers to help foot the bill for former presidents’ perks at a time when they already rake in millions of dollars from book deals, speaking engagements, and more.”
The Senate Committee on Homeland Security and Governmental Affairs unanimously approved the language of the bill, and it awaits a vote by the full Senate chamber. The House is set to consider a companion bill, proposed by Georgia Republican Rep. Jody Hice.
Currently, the are 5 living former presidents, and during the fiscal year of 2017, they cost the taxpayers a whopping $2.8 billion. This includes the pensions that are approximately $200k per year, along with security, staff, and all the other perks we offer our former leaders. While providing security is always the right thing to do, there is no reason a man making $400,000 in one day would need a stipend in excess of $200k annually.
Following that same line of logic, the new bill creates a plan to reduce the payouts to presidents based on their outside income. Once they’ve earned $400,000, their salary is reduced dollar for dollar. Under these rules, Obama would cap out with one speech.
Since President Trump donates his salary anyway, he is completely on board with these changes. In fact, the Bush’s also expressed support.
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.
This just leaves the crooked Clintons and Obama to pout it out. However, Bill can always pocket some cash from the Clinton Foundation. Meanwhile, Obama still has plenty of minions to line his pockets. Let the luney leftists overpay for dishonest speeches. Meanwhile, the taxpayers appreciate Trump’s relief efforts.