Former Presidents Paid by US Government

Tuesday, August 4, 2009 at 7:26 AM
So, every former president is still on the US payroll. Not sure how I feel about this, but here is the wording of the Former Presidents Act:

"(a) Each former President shall be entitled for the remainder of his life to receive from the United States a monetary allowance at a rate per annum, payable monthly by the Secretary of the Treasury, which is equal to the annual rate of basic pay, as in effect from time to time, of the head of an executive department, as defined in section 101 of title 5, United States Code [section 101 of Title 5]. However, such allowance shall not be paid for any period during which such former President holds an appointive or elective office or position in or under the Federal Government or the government of the District of Columbia to which is attached a rate of pay other than a nominal rate."

On the one hand, presidents should be thanked for their service. Being president is probably the hardest job in our country, and it's nice that they're taken care of by the citizens after serving. On the other hand, it's not like they're going to need the money. Heck most of them start off rich enough. They are probably earning around $100k to $200k, considering how much a current president is earning.


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