Obama and Government Officals Return Part of Salary

By: Associated Press
By: Associated Press

WASHINGTON (AP) -- The White House says President Barack Obama will return 5 percent of his salary to the Treasury in light of automatic spending cuts that have led to furloughs for thousands of federal workers.

A White House official says Obama decided to return part of his salary each month for the rest of the year to share in the sacrifice that government employees are making. The official wasn't authorized to discuss the decision publicly and spoke on condition of anonymity.
The president makes $400,000 per year. A 5 percent pay cut amounts to a little less than 1,700 per month.

The decision is retroactive to the beginning of March. That's when $85 billion in federal spending cuts kicked in after lawmakers failed to agree on a plan to undo them.

A day after Obama and Defense Secretary Chuck Hagel said they'd return 5 percent of their paycheck to the Treasury, Secretary of State John Kerry followed in somewhat similar fashion.

State Department spokeswoman Victoria Nuland says Kerry, however, will give his 5 percent to a charity for department employees. She says he already makes significant charitable donations.

Kerry makes $183,500 this year. His donation is worth $9,175.
The former Massachusetts senator was worth more than $184 million at the time of his 2011 Senate financial disclosure form.
His wife, Teresa Heinz Kerry, is heiress to the Heinz ketchup fortune and is reportedly worth more than $1 billion.


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