Are U.S. Presidents Royalty?
You might think with all the royalties that former presidents collect from speeches and events that our presidents act like kings. That’s a good question…Are our presidents royalty?
Well, it looks like they live like it in retirement.
Here’s a chart of what former Presidents are paid and where the money is spent.
The Former Presidents Act, enacted in 1958, provides living former presidents with a pension, office staff and support, funds for travel, Secret Service protection, and mailing privileges. It also provides benefits for presidential spouses. Currently, former presidents are awarded a pension equal to the salary of cabinet secretaries, which totaled $203,700 for the 2015 calendar year and was boosted by $2,000 for the current calendar year.
Hey, we wouldn’t want our former Presidents on Food Stamps would we? Well, in Obama’s case, since he’s expanded the Food Stamp ranks so much, I’d love to see him on Food Stamps and in Section 8 housing.
But that’s not likely to happen.
Former President Bill Clinton, for example, earned $132 million for delivering paid speeches between February 2001 and March 2015, according to an analysis from CNN. Clinton received $924,000 in taxpayer dollars last year by way of the Former Presidents Act.
But that’s not enough. Not for Barack Obama.
In his budget requests for fiscal years 2016 and 2017, Obama proposed hikes in the appropriations for expenditures of former presidents, according to a report from the Congressional Research Service published Wednesday.
An 18% hike to be exact.
Those pesky House Republicans under the stalwart conservative leadership of Speaker Paul Ryan are trying to cap pension payments at $200,000 per year. Probably to pay for increased funding to Planned Parenthood.
Are former Presidents royalty?