BREAKING: Republicans Just Gave Obama MASSIVE Bad News About His CUSHY Pension.
Occasionally Congressional Republicans get something right, albeit in rare occasions.
However, we must give credit where credit is due, and a new bill targeting the pensions
received by former presidents is something we can all agree on.
It's no secret that past presidents take in an exorbitant amount of money when they
leave office, from both book deals, speaking engagements, and other well-paying activities,
so it makes no sense that taxpayers should be forking over hundreds of thousands of dollars
a year in what amounts to high-end welfare.
So on Wednesday, a bill introduced to the Senate by Joni Ernst was passed out of the
Senate Committee on Homeland Security and Governmental Affairs that would scale back
pas president's pensions by a large margin, the Daily Caller reported.
"Our national debt now exceeds $20 trillion; this bipartisan effort is another important
step toward reigning in Washington's out-of-control spending," the Iowa Senator said in a statement.
It's worth noting that Barack Obama vetoed a similar measure last year before leaving
office, and it doesn't take a rocket scientist to figure out why.
Since he's left the White House, he's been on extravagant vacations and traveled
the globe, all while being paid hundreds of thousands of dollars for speeches while still
taking in his presidential pension.
In fact, just one speech yielded the former White House squatter $400,000, Bloomberg News
reported.
However, under Ernst's proposal, not only would his pension be capped at $200,000 a
year, but every dollar over $400,000 he made in the private sector would be deducted from
his annual stipend from taxpayers.
"It is ridiculous to continue asking taxpayers to help foot the bill for former presidents'
perks at a time when they already rake in millions of dollars from book deals, speaking
engagements, and more," Ernst said, and we agree.
The House is also working on a companion bill that would also limit pensions.
However, neither bill would reduce or change the security former presidents are entitled
to.
In 2017 alone, the five living former presidents cost American taxpayers some $2.8 billion
in salary, staff, security, and other perks of the office, a Congressional Research Service
report found.
When similar measures passed both the House and the Senate last year, former White House
press secretary Josh Earnest lamented that the bill would immediately remove staffers
from their jobs assisting former presidents when they left office, "leaving no time
or mechanism for them to transition to another payroll."
Welcome to life in the private sector.
Regardless of who the former president is, there's absolutely no reason we should be
doling out billions of dollars a year to support them while they're also raking in millions
from books, speeches, and anything else they can do to make money.
While this bill is undoubtedly needed, it's definitely long overdue.
For more infomation >> America's Newsroom 11/29/17 9AM | November 29, 2017 Fox News - Duration: 32:43. 
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