Thursday, September 26, 2013

Here are the Budget Cuts We Need

1 comment:

  1. These are the "facts" I tweeted @txstarkeeper about. The current retired pay of a president is $199,700. That information came from "Under the Former Presidents Act, each former president is paid a lifetime, taxable pension that is equal to the annual rate of basic pay for the head of an executive federal department -- $199,700 in 2013 -- the same annual salary paid to secretaries of the Cabinet agencies.

    As for Congressmen, "The amount of a congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary."

    "The current salary (2013) for rank-and-file members of the House and Senate is $174,000 per year." If the most they can get in retirement is 80% of their current salary it is not possible they would get their current pay in retirement for life.

    Note, none of those references came from Fox. It comes down to a question of what are the facts. And for the record I am a liberal but enjoy knowing what is true.