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Obama Wants A Bigger Pension When He Leaves Office

President Obama is asking lawmakers to approve a large hike in the pension and other financial benefits he is to receive after moving out of the White House next year, according to Newsmax.

The Congressional Research Service released a report stating: “The president’s (fiscal year) 2017 budget request seeks $3,865,000 in appropriations for expenditures for former presidents, an increase of $588,000 (17.9 percent) from the FY2016 appropriation level.” The program’s funding rose $25,000 from 2015 to 2016, at Obama’s request.

The government began issuing checks to past commanders in chief in 1958, when Congress approved the Former Presidents Act to provide financial assistance to outgoing President Harry Truman. Newsmax noted that the Missouri Democrat, like Ulysses S. Grant and a few other presidents, was not a wealthy man when he left office.

“Some critics of the Former Presidents Act say the statute subsidizes presidents who are not struggling financially,” the CRS report states. “Others argue that although a former president is not in a formal public position, he remains a public figure and should be provided a pension and benefits that permit him to perform duties that emerge as a result of his public status.”

Each living ex-president currently receives $205,700 per year. Widows of those who have died each get annual payments of $20,000.

Photo: U.S. Department of State from United States

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