Obama’s Wealth, Pensions and Offshore Investments
October 20, 2012
Originally posted on The Foxhole:
The Democratic party sells itself as a representative of the working class and the poor, and they also make a habit out of accusing Republicans of being the ‘party of the rich’. It turns out, the Dems aren’t very destitute.
As president, he will receive $191,300 annually for life — win or lose in next month’s election — and receives a travel allotment as well as mailing privileges. Should Obama lose, his presidential pension kicks in immediately after leaving office.
Given that the president enjoys a normal life span, the pension allotment would be worth upwards of $6 million.
The federal budget spends about $3 million annually for the four living ex-presidents. Obama also will get Secret Service protection.
In addition, Obama may be due a nice pension for the eight years he served in the Illinois Legislature as a state senator.
Illinois is infamous for its lavish pension plan for former lawmakers. A Freedom of Information Act request for Obama’s pension amount submitted Wednesday to the General Assembly Retirement System of Illinois was not immediately answered, nor was a call to the Obama campaign.
……the fact-checking arm of the Milwaukee Journal Sentinel, has confirmed that Obama does participate in the Illinois pension fund, which was organized in the Cayman Islands and has interests in China.