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It's GOOD to be the Ex-President

Harry Truman was as close to a pauper former president as we've had in modern times — which makes sense, given that most presidents have come from comfortable circumstances. Congress created a presidential pension to make sure that Truman could live comfortably, and presidents after him — those who survived, and needed it — were thus provided for.

Until Gerald Ford, who took up corporate board memberships, then Reagan who found his previously lucrative speaking career was even more lucrative, both of whom were then copied by GHW Bush, Bill Clinton, and GW Bush. There's every reason to believe that Obama will follow the same trend.

(The main exception is Carter, who does public speaking but generally donates the proceeds to charity.)

It doesn't seem at all unreasonable to reduce or eliminate presidential pensions for those who are otherwise making sufficient money. Indeed, think of it as needs-based testing. Maybe we should think about it for other elected federal officials as well.




Taxpayers Give Big Pensions to Ex-Presidents, Precisely So They Don’t Have to Sell Out
The rush to enrich flies in the face of the intent of the presidential pension, which was to preserve dignity and prevent corruption.

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