It looks like Former President Barack Obama’s pension may be in trouble.
The former president has taken some heat recently after he got paid $400,000 to speak at the investment firm Cantor Fitzgerald’s conference in September.
— Jason Chaffetz (@jasoninthehouse) May 4, 2017
The Hill reports:
“Rep. Jason Chaffetz (R-Utah) suggested on Wednesday that former President Barack Obama‘s planned $400,000 speech to a Wall Street firm is the driving force behind a coming measure to cap presidential pensions.
Chaffetz is poised to reintroduce a bill later this month that would seek to limit the pensions of ex-presidents to $200,000, with an additional $200,000 in expenses, USA Today reported Wednesday. That pension would be reduced if a president’s outside income exceeds $400,000.
The Utah Republican sponsored the same measure last year. Obama vetoed that bill, and congressional leaders never attempted to override the veto. Sen. Joni Ernst (R-Iowa) introduced the companion bill in the Senate. She is also set to reintroduce the measure, according to USA Today.”
We are 19-trillion bucks in debt and we’re paying this guy a massive pension?
Former presidents deserve to live a nice life after they get out of office, but $400,000 is way beyond a nice life. Especially when you consider they can charge half a million bucks for a single speaking engagement.
Republicans weren’t the only ones who thought the paycheck for the speaking engagement was a bit high.
Even Massachusetts Senator Elizabeth Warren questioned it.
Representative Chaffetz’s proposal is a step in the right direction. If a former president makes over $400,000, there is no reason why the taxpayers shouldn’t be able to save a bit of money.
Let’s get this through Congress!