Well, this is interesting and I am not sure I agree with their motives but maybe it is a start to reform the system that is over compensating for the period of time served.

Former president Barack Obama's upcoming speech to investment bank Cantor Fitzgerald has caught the eye of US lawmakers — particularly for the six-figure payment Obama is receiving for the appearance.

At least one lawmaker suggested Congress may evaluate Obama's presidential pension because of it.

House Oversight and Government Reform chair Jason Chaffetz commented in a USA Today story published Wednesday that said lawmakers may reintroduce a bill that would target presidential pensions if a former commander-in-chief earns outside income of at least $400,000.

While in office, Obama vetoed the Presidential Allowance Modernization Act — a bill sponsored by Chaffetz that would have capped a president's pension at $200,000 a year and phased out pensions if they earned $400,000 or more from other sources.

USA Today's tweet Wednesday night read: "Obama's $400,000 speech could prompt Congress to go after his pension."

Chaffetz responded: "Yes, it will."

"The Obama hypocrisy on this issue is revealing," Chaffetz added. "His veto was very self-serving."

"The basic premise here is, if they want to go fishing in Utah for the rest of their lives, they can do that. They will be well compensated for the rest of their lives," Chaffetz said. "If they're going to make millions of dollars, the taxpayers shouldn't have to subsidize them."

Obama reasoned that his veto was based upon "unintended consequences" that would have affected his predecessors.

"President Obama will deliver speeches from time to time," said former White House spokesman Eric Schultz. "Some of those speeches will be paid, some will be unpaid, and regardless of venue or sponsor, President Obama will be true to his values, his vision, and his record."

https://finance.yahoo.com/news...gress-051404205.html

What the fuss could Zippy say that's worth hearing for $400k?

quote:

President Obama will be true to his values, his vision, and his record."

He proves that every day.

This is what happens when you preach spreading the wealth around and denying the individual ownership of his own produce and accumulation. You didn't build that so you don't own it.

Then what about Bill kLinton and the millions he made over the years bulls hitting everyone for $$$?

I wonder when the House Oversight people will look at the "commissions" Obama likely received on the $Billions sent to Iran. Another example of liberals "socialism forced on thee, but capitalism for me".

His pension rights are vested. Too late now, ex post facto, e pluribus unum, non curat lex and all that.

If Congress decided to reduce entitlements, the howl would knock all the buildings down. "If we do it for one we have to do it for everyone."

Such payments are most assuredly little more than thinly veiled attempts to hide a massive payoff for a past or future favor. Nobody, ever, has that much to say that's that interesting for the money to be about the speech itself. I don't know what the answer is, if there even is one, but no one, with a straight face and reasoned thinking, actually believes it as it is...

quote:

Originally posted by JALLEN:
His pension rights are vested. Too late now, ex post facto, e pluribus unum, non curat lex and all that.

If Congress decided to reduce entitlements, the howl would knock all the buildings down. "If we do it for one we have to do it for everyone."

Reminds me of Willy Wonka:
Fax mentis, incendium gloria cultum, et cetera, et cetera... Memo bis punitor delicatum! It's all there! Black and white, clear as crystal!

quote:

Originally posted by 46and2:
Such payments are most assuredly little more than thinly veiled attempts to hide a massive payoff for a past or future favor....

Please repeat.

Such payments are most assuredly little more than thinly veiled attempts to hide a massive payoff for a past or future favor...

quote:

Originally posted by JALLEN:
His pension rights are vested. Too late now, ex post facto, e pluribus unum, non curat lex and all that.

If Congress decided to reduce entitlements, the howl would knock all the buildings down. "If we do it for one we have to do it for everyone."

So true, but do CEO's get a expense account after stepping down or retiring?
..............................................
Here's How Much Money Obama and Biden Will Get From Their Pensions
Alicia Adamczyk
Jan 20, 2017

Though former President Barack Obama has said he isn't retiring yet, he's already set to receive a healthy governmental pension.

The Former Presidents Act lays out the benefits past presidents receive after they leave office, including a pension and additional funds for travel, office space, staff, and other requirements needed to "maintain the dignity" of the presidency.

Per the statute, Obama's annual presidential pension is $205,700—the same amount as former presidents George W. Bush, Bill Clinton, George H.W. Bush, and Jimmy Carter. The amount is linked to Cabinet Secretary pay, which is set at Executive Level I pay.

While the presidential pensions are all fixed at the same rate, the current president requests funding from Congress for additional expenses related to former presidents. Those expenses vary widely, mainly because of differences in office space rental costs, per a report from the Congressional Research Service. For example, Jimmy Carter was appropriated $430,000 in fiscal year 2015, while George W. Bush received $1,098,000. Bush received $434,000 for office space that year, while Carter received $112,000.

Upon leaving office, Obama is set to receive less money in FPA funds than any other living president. While he did request an increase of $588,000 in FPA funding for 2017, only $359,000 of it was earmarked for himself—which includes his $205,700 pension, staff salaries, office space, etc.—and the other $229,000 will be distributed between the other four presidents.

Additional appropriations to help the president and his family "transition" to their new life and pay for Secret Service protection are provided through different statutes. For example, Obama requested $9.5 million for the U.S. General Services Administration to carry out the Presidential Transition Act this year (that's for both his transition and Vice President Biden's), including $1 million to brief incoming president Donald Trump's administration.

Former Vice President Joe Biden, on the other hand, receives his retirement income based on his role as President of the Senate. Rules for Senate pensions are much more complicated than presidential pensions, but assuming he has been covered under the Civil Service Retirement System for the past 43 years, Biden's pension could be around $248,670 per year. Former vice presidents do not receive Secret Service protection.

The FPA does not cover health benefits, but former federal employees who were enrolled in the Federal Employees Health Benefits program for five years can receive benefits after their time in office is over. (Carter, who served one term as president and held no other federal role, therefore doesn't qualify.)

The Huffington Post reports that Obama will also receive "$383,535 from the Illinois state pension he earned in eight years as a state lawmaker" once he retires.

http://time.com/money/4640736/...a-joe-biden-pension/

I thought most if not all former Presidents gave speeches for compensation. I was at a hotel in Florida in 2009 for a conference that was literally taken over by USSS and every other government acronym of LEO. The searched the hotel top to bottom and secured everything prior to the arrival of GB II to give a speech at an event.

I can't stand the guy, but this sounds like a bunch of mental masturbation...

i think that should be applied to everyone in the legislature.

quote:

Originally posted by stoic-one:
I can't stand the guy, but this sounds like a bunch of mental masturbation...

Agreed. Much ado about nothing. It makes for a great sound bit, but quite frankly it's #99,999 on the priority list of things I want undone from the 0bama administration.