Posted on May 20, 2015
Congress wants to cut the pensions and allowances of former Presidents. Your thoughts?
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The bill would cap a former president’s lifetime federal benefits at $200,000 and allow him another $200,000 for an allowance. But for every dollar a president earned over $400,000 a year, this annual allowance would be deducted by a $1. (Apparently we’re now means testing our former presidents.)
Clinton last year received $950,000 from the federal government, about half for office space. Former President George W. Bush was paid about $1.3 million for his pension and expenses. If this bill was law, Clinton, who made around $9.7 million in speaking and book royalties in 2014, wouldn’t get any allowance at all.
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The author makes a rather snide comment that "apparently we’re now means testing our former presidents" --- WTH? We "means test" people who make a whole helluva lot less money all the time.
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http://www.washingtonpost.com/blogs/in-the-loop/wp/2015/05/19/congress-wants-to-cut-president-clintons-pension-federal-allowance/?tid=hpModule_308f7142-9199-11e2-bdea-e32ad90da239&hpid=z16
Clinton last year received $950,000 from the federal government, about half for office space. Former President George W. Bush was paid about $1.3 million for his pension and expenses. If this bill was law, Clinton, who made around $9.7 million in speaking and book royalties in 2014, wouldn’t get any allowance at all.
======================================================
The author makes a rather snide comment that "apparently we’re now means testing our former presidents" --- WTH? We "means test" people who make a whole helluva lot less money all the time.
======================================================
http://www.washingtonpost.com/blogs/in-the-loop/wp/2015/05/19/congress-wants-to-cut-president-clintons-pension-federal-allowance/?tid=hpModule_308f7142-9199-11e2-bdea-e32ad90da239&hpid=z16
Office of the President (POTUS)
Budget
Retirement
Edited >1 y ago
Posted >1 y ago
Responses: 17
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How about averaging the top three years and dividing that in half, take away Life Insurance, Dental Insurance, place them on Tricare or make them use the VA Medical System. Sounds like a fair retirement system to me...
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No politician should be receiving a pension for their political 'service' -- (said so-called service actually makes me want to throw up in my mouth).
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A presidents pension should not be means tested either he earned in or he didn't. That's like saying military shouldn't get a pension if they make too much money. I will say that presidential pension is vastly better than any other government worker. After a 4 year term they EL 1 pay ($200,000) for the rest of their life immediately upon retiring. The federal civilians get (1.7%/1.1%) times years of federal service times the average of the their highest three earning years. And it vests after 5 years and doesn't pay out until 60 something. So a four year vice president would need to serve an additional year in government to qualify for a ~$20,000 pension in retirement. It's that way for vice presidents, cabinet secretaries, senators, and all the GS employees.
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The entire federal government, excluding military, needs to have their salaries reduced and any perks need to be taxed.
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"It's a Trap"! I can just picture Hillary telling America, that now that her and Bill have sacrificed some of their pay and benefits, now its your turn. Obviously, I'm not meaning to compare our future President to Admiral Ackbar, although they do kind of sound alike.
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MSgt (Join to see)
I do not think any politician should receive any benefits after they leave office. None of them should get a retirement and they all should have to use the VA and Tricare for medical needs.
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Great idea. Why should the tax payer pay for their offices and staff when they make over 5 million a year in talking engagements. I think Bubba Clinton said they made like 30 Million since 2014.
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MCPO Douglas Pennington
oh yes i forgot they were broke when the left office and bought there million dollar palace. At least they had room for Hillary's illegal server..
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