Well, after 8 years of Obama as president, it’s no wonder that our country is in major debt. It’s up to about $20 TRILLION! UNBELIEVABLE!
What’s not surprising is that President Trump is about to make a change that will reduce some of that debt and cut spending in the future. He’s planning to cut presidential pensions. A similar bill was introduced during the Obama administration, but of course, Obama vetoed it. No surprise there, right? But just imagine the millions of dollars that taxpayers will save because of cutting presidential pensions. The presidential pensions really don’t make any sense at all. It’s not like these guys are hard pressed for money after they get out of office. The fact is past presidents make a ton of money just making speeches, so cut away!
On Wednesday, the Senate Committee on Homeland Security and Governmental Affairs unanimously approved a bill that would cut presidential pensions, saving the taxpayers millions.
The bill, which was introduced by Republican Iowa Sen. Joni Ernst, would cap the pensions at $200,000, with adjustments made for the increase in the cost of living each year.
In addition, the legislation includes language that for every dollar above $400,000 that a president makes from things like speeches and other post-presidential events, one dollar would be taken off the pension. Bloomberg noted that former President Barack had Obama already made $400,000 from one speech given to clients of Northern Trust Corporation.
The bill would not change any of the security measures provided to former presidents.
“Our national debt now exceeds $20 trillion; this bipartisan effort is another important step toward reining in Washington’s out-of-control spending,” Ernst explained.
With presidents making millions of dollars after they finish their time in office (which is perfectly fine), it makes no sense for the taxpayers to be providing them with an income regardless of their other arrangments.
Footing the bill for security is one thing, but just giving someone money because they used to be a president makes zero sense. This is essentially high-dollar welfare for people who clearly don’t need it.
In 2016, according to The Associated Press, Obama vetoed and sent back to Congress a bill that would have placed a cap on the taxpayer-funded expense accounts utilized to one extent or another by the former presidents.
Nice work, huh?
Of course, the reason Obama cited for vetoing the bill was that the sudden capping of the expense accounts might result in cuts to the salaries and benefits, even entire jobs held by staffers working for former presidents in an official capacity.
Seriously? Give me a break!
Congress tried to do taxpayers a favor by placing a limit on how large former presidents could live off taxpayer funds once they were out of office, but Obama vetoed it. That just revealed that he intended to live high off the hog off the taxpayers’ dime for the rest of his life. Naturally? I mean why did we think he would change after being in office?
The President’s FY2017 budget request saught $3,865,000 in appropriations for expenditures for former Presidents, an increase of $588,000 (17.9%) from the FY2016 appropriation level. The increase in requested appropriations for FY2017 anticipated President Barack Obama’s transition from incumbent to former President,” the report stated.
“For FY2016, President Obama requested and received appropriations of $3,277,000 for expenditures for former Presidents–an increase of $25,000 from FY2015 appropriated levels,” the report added.
You’d think ANY former president would make enough money just off their speeches that certainly taxpayers could cut a few bucks by cutting costs on presidential pensions.
Thank you, Joni Ernst! Now it’s time for Congress to step up and make a difference!