Obama 5% of salary will be returned as a tribute to federal workers facing furloughs under the sequester. That's $20,000 – a big chunk for most people, but for the president, not so much.
President Obama has decided to return 5 percent of his salary to the Treasury as a tribute to federal workers facing furloughs under the "sequester," The New York Times reported Wednesday, citing an unnamed administration official.
Let’s see, the president makes $400,000 a year, and 5 percent of that is $20,000. After he leaves the White House in 2017, he can make up that money about five minutes into his first paid speech. So yes, when you’re president, and set for life financially, a $20,000 giveback to Uncle Sam really doesn’t cost you much of anything.
But it became increasingly clear that Mr. Obama had to do this. A bandwagon has been forming, and he had to jump on, especially as the day draws near when some federal workers begin to lose pay with forced days off.