- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
House passes bill to curb presidential pensions
Posted on 12/11/17 at 6:27 pm
Posted on 12/11/17 at 6:27 pm
The House easily passed legislation on Monday to reduce the pensions and federal benefits provided to former presidents.
Before approving the bill by voice vote, lawmakers expressed agreement that modern-day former presidents don’t need financial assistance from the government if they already earn salaries in the millions.
Under a law established in 1958, former presidents are eligible for an annual six-figure pension, plus funds for staff salaries, office space and other expenses.
Rep. Jody Hice (R-Ga.), the author of the bill, questioned the necessity of providing funds for former presidents who can make millions of dollars from book deals and speaking engagements.
Benefits for former presidents cost taxpayers $2.84 million in fiscal year 2017, according to Hice’s office.
Yet the lucrative opportunities for former presidents and their spouses are well documented.
For example, former President Clinton — as well as his wife, former first lady Hillary Clinton — earned an average of $210,795 for each paid speech from the time he left office in 2001 until her 2016 campaign launch, according to a CNN analysis.
Former President Obama and former first lady Michelle Obama also inked book deals that were reportedly in the tens of millions of dollars.
The legislation would reduce the presidential pension by about $4,000 to $200,000 per year and cap the budget for each former president’s office and staff expenses to $500,000 annually.
Funds available for presidential office expenses would be reduced for every dollar a former president earns over $400,000. Eventually, the staff and office budgets would be phased down to $350,000 in six years and $250,000 in 10 years.
LINK
Before approving the bill by voice vote, lawmakers expressed agreement that modern-day former presidents don’t need financial assistance from the government if they already earn salaries in the millions.
Under a law established in 1958, former presidents are eligible for an annual six-figure pension, plus funds for staff salaries, office space and other expenses.
Rep. Jody Hice (R-Ga.), the author of the bill, questioned the necessity of providing funds for former presidents who can make millions of dollars from book deals and speaking engagements.
Benefits for former presidents cost taxpayers $2.84 million in fiscal year 2017, according to Hice’s office.
Yet the lucrative opportunities for former presidents and their spouses are well documented.
For example, former President Clinton — as well as his wife, former first lady Hillary Clinton — earned an average of $210,795 for each paid speech from the time he left office in 2001 until her 2016 campaign launch, according to a CNN analysis.
Former President Obama and former first lady Michelle Obama also inked book deals that were reportedly in the tens of millions of dollars.
The legislation would reduce the presidential pension by about $4,000 to $200,000 per year and cap the budget for each former president’s office and staff expenses to $500,000 annually.
Funds available for presidential office expenses would be reduced for every dollar a former president earns over $400,000. Eventually, the staff and office budgets would be phased down to $350,000 in six years and $250,000 in 10 years.
LINK
Posted on 12/11/17 at 6:39 pm to autauga
They should vote to curb their benefits too.
Posted on 12/11/17 at 6:54 pm to autauga
Haven't they passed some thing similar a few times recently, but the Senate never takes it up?
Posted on 12/11/17 at 6:57 pm to The Spleen
not much of a cut.
start at 50% and go from there.
start at 50% and go from there.
Posted on 12/11/17 at 7:17 pm to autauga
3 million? That's a drop in the bucket.
Posted on 12/11/17 at 7:25 pm to autauga
Not nearly far enough. If they can earn millions the they can afford private security and retirement accounts.
Posted on 12/11/17 at 7:27 pm to autauga
No elected officials should get pensions period IMO.
Elected office is not supposed to be a career.
You're supposed to have a job and a life before getting elected that you return to after you leave office.
Elected office is not supposed to be a career.
You're supposed to have a job and a life before getting elected that you return to after you leave office.
Posted on 12/11/17 at 7:44 pm to autauga
What the frick does it even matter
Just make the pay zero with zero further pay
You are guaranteed at least tens of millions of dollars if you become President from the private sector
Just make the pay zero with zero further pay
You are guaranteed at least tens of millions of dollars if you become President from the private sector
Posted on 12/11/17 at 7:46 pm to autauga
They don't even need that money after getting rich ripping off the country.
Our President on the other hand doesn't even take a salary!
Our President on the other hand doesn't even take a salary!
Posted on 12/11/17 at 7:47 pm to PurpleandGold Motown
$3 million is only a few more rounds at Mar-A-Lago.
Glad we could find it somewhere
Glad we could find it somewhere
This post was edited on 12/11/17 at 8:03 pm
Posted on 12/11/17 at 8:00 pm to autauga
Pensions are so yesterday, they should contribute to an IRA justa like the rest of us plebs
Posted on 12/11/17 at 9:04 pm to autauga
I think they should earn a pension, get security, and that's it.
If they no longer represent the USA, then the USA shouldn't foot the bill for offies and staff.
Also, it's nobody's business how much they make after they leave office, unless how they make it somehow compromises national security.
If they no longer represent the USA, then the USA shouldn't foot the bill for offies and staff.
Also, it's nobody's business how much they make after they leave office, unless how they make it somehow compromises national security.
Popular
Back to top
Follow TigerDroppings for LSU Football News