Bill Clinton had sexual relations with an intern in the Oval Office, George W. Bush got us into a completely unnecessary war, and Obama single-handedly divided our nation and went on an embarrassing “apology tour”, yet we taxpayers have been literally funding their lavish lifestyles every single year.
However, thanks to a new a new House bill, spending on former Presidents is about to take a HUGE cut!
According to the report below, Bill Clinton and Barack Obama have gotten filthy rich from speaking engagements and book sales, so they’ll be just fine without more of our hard earned money.
Funny enough, Obama actually VETOED a similar bill last year…but he isn’t making the final decisions anymore, is he? 🙂
The House on Monday approved by voice vote legislation that would reduce taxpayer funding of former presidents.
The bill, authored by Rep. Jody Hice, R-Ga., modifies similar legislation passed in 2016 that former President Barack Obama vetoed.
“Despite the millions of dollars offered by these lucrative deals, American taxpayers continue to foot the bill for yearly pensions, staff salaries, and office space. Given that our federal deficit is more than $20 trillion, it is imperative that our past presidents lead by example in cutting costs and prioritizing accountability as we strive toward a balanced budget.”, said Hice.
The bill would cap at $500,000 annually the expenses incurred by ex-presidents for office space, leases, furniture, supplies, and staff salaries. It would also cap pensions at $200,000, which is about where they are set currently, and it would reduce monetary allowances if a former president earns more than $400,000.
The new legislation would phase out the monetary allowance over time, slashing it to $350,000 in six years and reducing it to $250,000 in 10 years.
Ex-presidents have become increasingly wealthy.
A Washington Post report last year found that former President Bill Clinton earned $104.9 million for 542 speeches between January 2001 and January 2013.
President Obama and Michelle Obama have already earned $65 million in advance money for books each is writing.
We applaud this new legislation! We have enough problems in our country and we don’t need to be worrying about funding the extravagant lifestyles of previous failed Presidents.