YES! Obama Just Did Something That Will Make Him Lose Every Penny Of His Pension!
Last year, Obama vetoed a bill that would have curbed the pensions of former presidents if they took outside income of $400,000 or more which is raising concern among many lawmakers and citizens in light of the fact that Obama gladly took $400,000 for a Wall Street speech.
“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.”
Okay so 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.
Opposing Views reports that Chaffetz also serves as chairman of the House Oversight and Government Reform Committee and sponsor of the original pension reform bill.
In addition to the Wall Street speaking fees, Obama and his wife, Michelle, have signed a lucrative publishing deal for two separate books, worth an estimated $65 million. The Obamas released a plan on May 3 to donate $2 million to a program in Chicago that promotes summer jobs for youths in the area.