Folks, Congress Hit Obama right where it hurts…HIS WALLET!
Last year, then-president Barack Obama vetoed a bill that would have curbed the pensions of former presidents if they took outside income of $400,000 or more.
“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.”
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.
Since Obama has been getting paid $400,000 per-speech by Wallstreet and $65 million for his book, that means his pension would basically go bye-bye.
A new bill are looking to pass would deduct 1$ for every 1$ earned over $400,000 by a former President.
Ex-Presidents currently get a life-long pension of $207,800-per-year.
Let’s help the CONGRESS and hurt his wallet!