I didn’t know what Romney was talking about. What pension does the President get? He doesn’t get one from being a Community Organizer. He doesn’t get one for his short time in the Senate. He will get once he is out of office for his 4 years as President but other than that I didn’t realize he had a pension he got every month today.
“I didn’t know what Romney was talking about. What pension does the President get?”
Obama claims a net worth of between $7 and $11 million. Romney was referring to the “blind” trust where Obama has his millions of dollars of investments parked while in office. The investments are managed by a financial institution. The point Romney was making is that in today’s world, if you have a managed investment account or own mutual funds, you have money invested in China.
With respect to pensions, Obama will draw one from the state of Illinois for his time as state legislator and may receive one for his service as a US Senator. He will also receive a pension for his service as US President ($191,000 per year). Michelle may be eligible for a pension for her executive job at the Chicago hospital.
Given his age it is unlikely Obama is drawing a pension from any government agency today. Most government and private pension plans require the participant to be at least 55 years of age. Payments on his Presidential pension will begin as soon as he leaves office.
No doubt Obama will benefit from lucrative book deals and speaking engagements as soon as he leaves office. The book deals will be worth millions in up front fees and royalties. Bill Clinton made $13 million for speeches in 2011 alone (per Hillary’s financial disclosure statements). He may also accept appointments to corporate boards. No doubt he will also benefit from the best financial investment advisors in the world.
Likely within five years of leaving office, the Obama’s will have a net worth of well over $100 million for very little actual effort on their own. Obama will have ghost writers for his books and his staff (former Presidents have a government paid staff) will continue to write his speeches. Obama will jet around the world in private aircraft, staying at luxury resorts while being paid millions to read speeches from his teleprompter.