I cannot believe what I just read in the article below. I knew that the former Presidents were taken care of after thier service, but my goodness,
the money that we spend. Not to mention the money that they earn for simply giving speeches.
All the president's money
NEW YORK (CNN/Money) - Bill Clinton has begun promoting his autobiography, which hits the bookstores on June 22. The former president chose "My
Life" as the title of the 900-page work. He might have called it "My Wallet."
With a retail price of $35, publisher Alfred A. Knopf has enormous hopes for the book. The company has ordered a first printing of 1.5 million. It
also paid Clinton an advance of $10 to $12 million, according to Publisher's Weekly, the largest ever for a non-fiction title. For Knopf to turn a
profit, "My Life" must sell like hotcakes.
Thomas McCormack, a playwright and former CEO of St. Martin's Press, estimates Knopf's break-even point for the book is probably about 800,000
hardcover copies. "If they sell out the first printing," he says, "they'll make millions."
The rest of the Presidents Money...
For Clinton, the streets leading out of the White House are paved with gold, thanks to the book deal and a lucrative sideline: public speaking.
He may be the highest paid speaker in the world right now, although that's a "tough call,"
To give an idea of how a former president keeps himself busy on the lecture circuit, here's one month of Clinton's schedule.
* Feb. 7. Speech to the Women's International Zionist Organization in Miami. Fee: $125,000.
* Feb. 11: Speech to Group Vivendi/Universal in Sundance, Utah. Fee: $150,000.
* Feb. 15: Speech to the Long Island Association in Woodbury, N.Y. Fee: $125,000.
* Feb. 18: Speech to ORT, a Jewish charity in Montreal. Fee: $125,000.
Then, Clinton made a quick pop Down Under to make presentations in Sydney (Feb. 22, for a whopping $300,000), Perth (Feb. 23, $125,000), Adelaide
(Feb. 25 and 26, $125,000 and $250,000), and Melbourne (Feb. 27, $125,000).
All told, his words of wisdom generated $1.45 million in fees in a single short month.
In addition to speaking fees and book advances, Clinton collects some incidental income.
His presidential pension now totals $171,900. The government picks up the $354,000 annual rent on his 8,300-square-foot office in Harlem, and pays his
office staff to a maximum of $160,000. The Feds reimburse travel, postage, telephone, and printing expenses, not to mention providing a Secret Service
detail. As long as the Clintons can keep talking and writing, they should have few real financial worries. But that doesn't mean the famously
sensitive ex-president can't still feel your pain.
Please read the entire article, as I didn't post Hillary's income nor her pay received from her book. There's also good info here on the legal
expenses incurred while in the white house, which have not been completely paid back yet.
I had no idea the amount of money that the government spends on the former presidents. "we" pay for his office staff, postage, etc. The kicker,
$354 Thousand Dollars per year for his 8300 Square foot office in Harlem. This is complete crap in my opinion.
[edit on 13-6-2004 by elevatedone]
[edit on 13-6-2004 by Banshee]