With an annual taxpayer-funded financial perk of $1,153,000, former President Barack Obama is officially the country’s most high-maintenance ex President. His annual allowance tops even George W. Bush’s ($1,053,000) and Bill Clinton’s ($953,000).
Bush 41 gets $942,000 per year, while Jimmy Carter gets $456,000.
The annual allowances for former presidents stem from a 1958 bill, the Former Presidents Act, which offers former Commander in Chiefs an official income after they leave office. Congress passed the law after Harry Truman failed to generate enough income after he was no longer President.
Obama’s official allowance includes his pension, which is also the highest pension when it comes to former presidents. Obama will get a $236,000 pension, while George W. Bush gets $225,000 and Clinton $231,000. Bush 41 and Carter don’t have a presidential pension.
Obama and the former First Lady Michelle Obama boosted their fortunes by millions during the presidency and they keep adding to their coffers through speeches and other contracts. Obama charges $400,000 for a speech during private speaking circuits, while Mrs. Obama charges $200,000. This additional income makes the official allowance unwarranted, but the former first couple takes it anyway.
But There’s More
According to a recent report, the Obamas’ largest expense is the former President’s DC office for which taxpayers must fork out $536,000 every year. The office tops Clinton’s by $20,000 and Bush 43’s by $40,000.
The 44th President’s travel tab has also raised many eyebrows. The Obamas’ eight years’ worth of travel expenses cost U.S. taxpayers a whopping $99,714,527.82. The figure is derived from several responses to FIFA requests filed by Judicial Watch with the Secret Service and Air Force.
The reports show that a single trip to Key Lago, where the Obamas stayed at a luxury resort, cost taxpayers nearly $250,000 for the First Family’s security, $182,120 for the hotel stay, and $65,707 for travel expenditures.
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