Foundation

Former Presidents No Longer Need Taxpayers to Give Them Millions of Dollars

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In the era of the gig economy, it seems like just about everyone is seeking extra income through a side job. Former presidents, who receive an annual six-figure government pension plus additional benefits, have a much easier time with this than the average citizen.

According to a recent article in Bloomberg, former President Barack Obama has been giving speeches at events sponsored by Wall Street banks and charging $400,000 per engagement. Mr. and Mrs. Obama also reportedly signed a $65 million deal for a set of memoirs — a record amount among ex-presidents and their spouses. Not that there's anything wrong with this — that's the free market at work. But it does raise questions about the appropriateness of the expensive taxpayer-funded perks provided to wealthy former presidents. Newly-introduced legislation would reform their benefits and save taxpayers money.

Read the full article at the Washington Examiner.

Learn more about the costs of the perks provided to each former President here.


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