During President Obama’s tenure last year, he vetoed a bill which would have reduced the pensions of former Presidents if they received outside income of $400,000 or more. Now that President Obama is out of office doing the speaking tour gig, he recently accepted a $400,000 payment for one speech which was paid for by Wall Street. Aside from this blowing a hole in the left’s mantra for President Obama that he is a man of the people, President Obama is now in danger of having his pension reduced because of this speech and his acceptance of the $400,000 fee. Interestingly, while Barry was in office, he constantly attacked Wall Street calling them, “fat cats” and he even said that they were partly responsible for the financial crisis back in 2008.
With President Trump in office and a Republican House and Senate, many are calling for a reintroduction of the bill, which President Obama vetoed. Representative Jason Chaffetz, R-Utah is leading the charge for this reintroduction and has called out President Obama for this blatant display of hypocrisy.
The legislation, known as the Presidential Allowance and Modernization Act, would limit Presidential pensions at $200,000 with an additional $200,000 allocated for expenses. Once these amounts reach or exceed $400,000, that is when the cuts would start. Surely, the vacationer-in-chief is not happy about this at all, and even some on the left have called out Barry for his blatant display of hypocrisy and greed.
When Obama vetoed the Presidential Allowance and Modernization Act, many were surprised, as it was a piece of legislation that received bi-partisan support. Barry said at the time the bill would have “unintended consequences” as well as impose onerous and unreasonable burdens” on former Presidents which could cause them to lay off staff and find new office space. Naturally, this didn’t endear the great leader to many, since former Presidents are only entitled to what the law allows and office space and staff are not necessities for living. Even Representative Elijah Cummings, D-Maryland, supports the Presidential Allowance and Modernization Act as do many other Democratic lawmakers. To date, President Trump has not issued a statement regarding his position with this legislation, but Obama has plenty to worry about and likely will see his pension reduced.
At present there are five living former Presidents. They are Jimmy Carter, George H.W. Bush, Bill Clinton, George W. Bush, and Barack Obama. Under current guidelines, their current pension is $207,800 and a $150,000 budget for staff and furniture. Apparently, this works for everyone but Obama, likely because his vacations can get rather expensive. The Obama’s even have signed book deals, estimated to be worth $65 million dollars, but for some reason, they seem hell bent on continuing to stick it to the American taxpayer.
Eric Schultz, who previously worked for President Obama, and now acts as his advisor, issued a very laughable statement. “President Obama will deliver speeches from time to time, some of those speeches will be paid, some will be unpaid, and regardless of venue or sponsor, President Obama will be true to his values, his vision, and his record.”
The only thing President Obama has been true to is fundamentally transforming America and not for the better. He left a mess, which includes the monstrosity that is Obamacare, hate groups like Black Lives Matter and the Muslim Brotherhood, financing America’s enemies when he paid off Iran, and never displaying the guts necessary to deal with North Korea. Never mind that he pardoned serious criminals, 330 of them, including Bradley Manning, a traitor, who was sentenced to prison for 35 years.
Barack Obama’s most recent display of greed should not be surprising to anyone. For his entire political career he has spoken out of both sides of his mouth. When he got elected President of the United States and got a taste of the good life, he seemingly did not want to let it go. Rather, President Obama thinks it is okay to accept millions in book deals and speaking fees and still get his full Presidential pension even when many Americans can’t afford health insurance because of the mess he rammed down Americas throat.