He won a scholarship to the school in Hawaii.

Does going to Harvard make a person silver spooned? I know people that when there on scholarships. They were lower middle class.

Oops.

It doesnt matter how poor or rich he was growing up Im talking right now. The constitution wont allow him to take a pay cut. Maybe he should donate his salary to some charity.

Well, he is getting an ear full now. Many questions including those. Many times again.


Kat

We espect to get quality people who wont take kick backs and pay them 400,000????? We espect them to run the greatest country on earth and pay them 400,000????? I know its suppose to be about doing the right thing but come on!!!!!!! I could own and run a McDonalds and make more than that!!!!! JMO

Article II

The President shall, at stated times, receive for his services, a compensation, which shall neither be increased nor diminished during the period for which he shall have been elected, and he shall not receive within that period any other emolument from the United States, or any of them.

This is not true.

Q: Can the presidential candidates keep their campaign money?
A: No. They can donate any contributions they haven't spent to charities or political parties, and they can pay leftover campaign bills. The big rule is: no personal use.


Note: Several readers have asked this question, which we previously answered in an Ask FactCheck in February on what happens to campaign funds when a candidate drops out of a race. We've re-posted our Feb. 15 answer here.

As Bob Biersack from the Federal Election Commission points out, most candidates don’t have much left over to begin with. Campaigning is expensive, and “leftover” money gets used for bills and debts first, including expenses incurred while winding down an abandoned campaign or a lost political office.

Candidates do sometimes end up with surplus funds, though, particularly if they're incumbent members of Congress who decide not to run for another term. State and local governments have their own rules, but those running for federal office – including presidential candidates – must abide by strict FEC guidelines when it comes to their extra campaign money. They can donate an unlimited amount to a charity or political party. They can also, within limits, make contributions directly to other candidates. A campaign committee can give up to $2000 per election to each candidate. If the committee is converted into a political action committee, the limit jumps to $5000 – but to be established as a PAC, the committee would have to be in existence for six months, receive contributions from 50 donors, and make contributions to five recipients.

What candidates can’t do with leftover money is use it for personal expenses. Retiring federal lawmakers used to be able to pocket extra cash and use it for cars, vacations, clothes, pet grooming, whatever – but that changed in 1989 with the passage of the Ethics Reform Act.

- Jess Henig

Sources
Federal Election Commission. "Permissible non-campaign use of funds." Code of Federal Regulations. 1 Jan. 2007.

Berke, Richard. "Cash of Campaigns Can Go Elsewhere." The New York Times. 22 Jan. 1989.

He was refering to people who have regular jobs sacrificing one days work to keep their coworkers working they make a he!! of a lot less than $400,000 a year. LEAD by example.

He might only make 400,000 a year for 4 years but he will never have to work again for the rest of his life.

But nothing prevents a president from voluntarily forgoing compensation. John F. Kennedy, an heir to his father's massive fortune, and Herbert Hoover chose not to receive a presidential salary during their terms.

But I still haven't found where this has happened

Pretty true. It isn't much. He could make more being a CEO of a company with less stress.

Plus no rent, utilities, etc

He was refering to people who have regular jobs sacrificing one days work to keep their coworkers working they make a he!! of a lot less than $400,000 a year. LEAD by example.

He might only make 400,000 a year for 4 years but he will never have to work again for the rest of his life.

http://www.huffingtonpost.com/2009/03/19/obama-book-deal-500k-adva_n_176837.html

WASHINGTON — President Barack Obama, a best-selling author who received royalties of $2.5 million last year, will get hundreds of thousands more for a youth-oriented version of his published memoir and will write a nonfiction book after he leaves the White House.

Obama agreed in early January to deliver the new book after he leaves office. The White House said he already had a deal with Crown Publishing Group to write another book, and agreed Jan. 9 that he would produce the book after his term ends.

About a week later, shortly before his inauguration, Obama agreed to a $500,000 advance for an abridged version of "Dreams From My Father" that would be suitable for middle school or young adult readers, according to a new personal financial disclosure report released this week.

Obama will get $250,000 of the advance and the publisher will get the other half, a White House spokesman said Thursday, speaking on condition of anonymity because he was not authorized to be quoted by name.

Obama didn't indicate how much he might get for writing the new nonfiction book, whose subject is yet to be determined. Terms likely would be negotiated at the end of his time in office. Former President Bill Clinton got $15 million for his book, "My Life."

Obama received nearly $2.5 million in book royalties last year for his two best-selling works _ "Dreams From My Father," which was written before he was elected to the Senate from Illinois, and "The Audacity of Hope."

Obama's financial disclosure report released this week covers January through Nov. 16, 2008, when he left the Senate. It shows that he and his wife, Michelle, have $1.3 million to $5.7 million in assets, which does not include their Chicago home. In addition, they have up to $550,000 in college savings plans for their two daughters.

The Obamas' holdings include $1 million to $5 million in Treasury bills purchased in October. They sold $500,000 to $1 million in Treasury notes last April, according to the report.

The book deal was first reported Wednesday by Congressional Quarterly.


I'll gladly take his paycut.

I always found it funny. Anyone working in the private secter making CEO wages could work 4 years and not have to work again!

No, that's not true. It stays within the party of the Presidential candidate. That's not Obama's money.

I didn't know that. Thanks.

Obama was born in Hawaii and graduated from one of its high schools, "but he went to Punahou, and that was not a school for the impoverished."
Punahou, located in Honolulu, is one of the island's most prestigious private schools

his mother was a selfish woman who did not care who raised him, i am very glad his grandmother was there for him, but he did not go to a normal high school, or college, or law school. he never went without. he might not be raised like the hiltons but he will never understand the working mans sacfifices or hardships, he is a good talker and has a way with words so that democrats fall in line with what ever he says.
i did not get to go to privilged schools, i have paid one school loan off and i have just started another one to further my education. and did it without the help of my family.
i am just a hard working single mom, who has never had the option of going to a private school or prestegious college.
as a REPUBLICAN i will never understand what everyone sees in him, he has not done one thing to impress me. he has not followed thru with any of his campaign promises, he has traveled almost daily since he took office, and has now put more debt on all americans than bush did.
no more time for discussing obama. he is at the bottom of my list of people to spend time with

GWB?, GHWB?, Reagan? So I guess all of those didnt have a silver spoon???????? And what did they do to understand the working mans problems?????

His mom was on food stamps at one time. His father abandoned him and his mom and then died in a car accident while drunk. You said, "his mother was a selfish woman who did not care who raised him."

He went without to me.

At least he got a scholarship to that school in Hawaii. That's why he moved in with his grandparents.