The 1958 Former Presidents Act provides former living presidents with several lifelong benefits, including taxpayer funded office space, staff, travel and pension.
Former President Barack Obama budget requests for 2018 will be the costliest former commander-in-chief, with taxpayers shelling out $1,153,000 for his expenses in 2018, according to the Congressional Research Service.
The majority of ex-presidents since Truman have found ways to make their life financially rewarding after leaving the White House; however, the “perk” of taxpayer-funded contributions remain.Every former president gets an office, expenses and, in some cases, an annual pension payment, thanks to a 1950s-era law enacted after former President Harry S. Truman struggled for income when he left the White House in 1953. According to the Washington Times, Obama’s post-presidential needs will cost taxpayers $1,153,000 next year. The figure surpasses former Presidents George W. Bush by more than $100,000, Bill Clinton and George H.W. Bush by more than $200,000 and Jimmy Carter by nearly $700,000.
More from the WashingtonTimes:
By far the biggest cost for ex-presidents is renting office space. Mr. Obama’s office — 8,198 square feet in D.C. — will cost taxpayers $536,000 next year, the most of any ex-president. Mr. Clinton’s New York office is bigger, at 8,300 square feet, but slightly cheaper at $518,000. The younger Mr. Bush’s office in Dallas is $497,000, while his father’s space in Houston is $286,000. Mr. Carter’s Atlanta office is just $115,000.
Obama’s pension payment is also the highest, at $236,000, while Clinton comes in second with $231,000 , followed by the younger Bush at $225,000.
Former presidents’ budgets do not include costs for protection services. The U.S. Secret Service provides ex-presidents and their spouses with protection for life, a cost that is not public, but is reported to run in the tens of millions of dollars.
The Obama’s elected to remain in D.C. while Sasha Obama finishes school, and bought luxurious home in D.C.’s Kalorama neighborhood.