You often hear the phrase “What goes around comes around.” Obama might be learning that lesson a lot sooner than he imagined.
Last year, Former President Barack Obama vetoed a bill that would curb the pensions of former presidents if the amount of money they earned exceeded $400,000 per year. After Obama took a total of $400,000 alone for a Wall Street speech, according to USA Today, that bill is being reconsidered. The original sponsors of the bill are bringing it back, and are going to try to get it passed under President Donald Trump.
The former president was trying to make sure he could keep getting his pension money, while still getting money from doing speeches and events after his presidency.
This could stop Obama’s pension from moving forward if President Trump is willing to sign it. The President has yet to speak out on this bill. Some speculate that Donald Trump would be in favor of this piece of legislation, as it would be a smart and effective way to cut unneeded spending, which is an issue he has been very clear about since day one.
At this point, former presidents receive $200,000 a year, plus another $200,000 for expenses. If this bill passes, the amount of money they receive will drop once they make over $400,000.
Rep. Jason Chaffetz, a Republican from Utah, said that “The Obama hypocrisy on this issue is revealing.” He believes Obama vetoed the bill because he was trying to protect his own interests.
Chaffetz, who is also the chairman of the House Oversight and Government Reform Committee, is a sponsor of the bill, along with Sen. Joni Ernst, a Republican from Iowa.
Interestingly enough, this bill didn’t have a partisan line. Both Democrats and Republicans agreed that it was a great idea. The bill passed both the House and Senate with no issues.
It was not until the very last day that it could be vetoed that Obama struck the bill down. In the eight years that Obama was in office, he only had twelve vetoes, and this was one of them. Obviously, there was a reason for his decision, and as Chaffetz pointed out, it was very likely to be self-serving.
Obama had some even more peculiar reasons for vetoing the bill. He stated that there would be “unintended consequences” if this bill went through.
For once, the Democrats are not opposed to taking this bill and looking at it again. Rep. Elijah Cummings (D-Md.) co-sponsored the bill the first time it made an appearance. His spokeswoman, Jennifer Hoffmann Werner, stated that “Cummings definitely supports the concept, and if we can work out the technical issues with the bill that arose late in the last Congress, we expect he would strongly support it again.”
This could be the start of our nation finally being financially responsible when it comes to the pensions of government officials. If they are easily raking in more than $400,000 a year, the chances are that this extra money is just that — extra. Obama has not commented on the bill’s resurgence, but one could guess that he probably isn’t too happy about it.