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* Geithner urges action Play Video Video: Geithner urges action Reuters
* Bush: It is good to be home Play Video Video: Bush: It is good to be home AP
More from The Yahoo! Newsroom:
* Tug of war
* Obama's First 100 Days
* Do the military hustle
* Obama inauguration: Hits and misses
* Kennedy's words, Obama's challenge
* The invocation: Rick Warren
* Clinton confirmation delayed?
* Four-day inauguration: Schedule and details
U.S. President Barack Obama (L) and former president George W. Bush are seen Reuters – U.S. President Barack Obama (L) and former president George W. Bush are seen during the inauguration …
For the millions of jobless in America, the best that many can hope for are a few weeks of severance pay and a shrinking pool of state unemployment benefits.
In light of the nation's current economic gloom, AP has learned that President Obama is freezing some White House salaries. About 100 aides who earn more than $100,000 will have their pay frozen:
In a statement, Obama said "families are tightening their belts, and so should Washington."
But one guy is making a killing after losing his job: the most recent former president, George W. Bush. Granted, before he came into office, Bush already had a comfortable fortune in the bank. The L.A. Times reported that Bush made "just over $1.6 million in 1999," according to tax returns released by his then-presidential campaign.
As president of the United States, Bush made $400,000 a year; not a lot compared to what he made before he got the job, but still more than the $200,000 a year that all presidents have made since 1969. Bush can thank Bill Clinton for the raise: In 1999, Clinton signed legislation that doubled future presidents' take-home pay, according to the Congressional Research Service.
And thanks to the Former Presidents Act of 1958, Bush will receive an annual pension of $197,000 ... and lots of other perks. McClatchy reports that in addition to the pension, Bush gets:
- An office in Dallas, Texas, complete with staffers
- Secret Service protection for 10 years
- A travel budget
- Medical coverage
All courtesy of U.S. taxpayers. The National Taxpayers Union estimates:
...if Bush, now 62, reaches his current life expectancy of 83.5 years, he will receive pension payments of $5,564,800, compared to the $3.2 million he earned serving in the White House.