Watch Live: Congressional Hearing on IRS Scandal

Live Now on TheBlaze Radio: ‘The Buck Sexton Show’

Business

Fact Check: Turns Out Obama Has A Pretty Hefty Pension Plan After All

Oct. 18, 2012 12:57pm Guest Post

[Editor’s note: the following is an article that originally appeared on CNBC.com]:

Retirement packages sparked one of a series of confrontations during the Tuesday debate between President Obama and Republican challenger Mitt Romney.

The exchange took place during a discussion of China policy, with the president accusing the former Massachusetts governor of hypocrisy when it came to tough talk against the nation that boasts the world’s second-largest economy.

Romney conceded that a blind trust that manages his money does have investments in China, but countered that he wasn’t alone.

“Mr. President, have you looked at your pension? Have you looked at your pension? Mr. President, have you looked at your pension?” Romney challenged.

In one of the debate’s lighter moments, Obama countered, “I don’t look at my pension. It’s not as big as yours so it doesn’t take as long. I don’t check it that often.”

The remarks sparked some audience laughter — and yet another Romney rebuke.

“Let me give you some advice: Look at your pension. You also have investments in Chinese companies, you also have investments outside the United States,” he said.

On that score, Romney is likely correct.

Many public pension funds have a diversified foreign investment portfolio that includes China. For instance, the California Public Employees Retirement System, or CalPERS, recently announced a $530 million investment in two real estate funds that target China.

Most other public pension funds have directed increasing allocations to emerging markets and alternative investment classes to generate returns and bridge exploding funding gaps.

As far as size?

From the standpoint of a public pension, Obama is well-heeled.

As president, he will receive $191,300 annually for life — win or lose in next month’s election — and receives a travel allotment as well as mailing privileges. Should Obama lose, his presidential pension kicks in immediately after leaving office.

Given that the president enjoys a normal life span, the pension allotment would be worth upwards of $6 million.

The federal budget spends about $3 million annually for the four living ex-presidents. Obama also will get Secret Service protection.

In addition, Obama may be due a nice pension for the eight years he served in the Illinois Legislature as a state senator.

Illinois is infamous for its lavish pension plan for former lawmakers. A Freedom of Information Act request for Obama’s pension amount submitted Wednesday to the General Assembly Retirement System of Illinois was not immediately answered, nor was a call to the Obama campaign.

But what about Romney?

It’s extensively documented that Romney is, well, a rich guy. He earned untold millions —though famously circumspect about releasing tax returns — while leading private equity giant Bain Capital and has a substantial retirement plan.

His Individual Retirement Account could be worth in the neighborhood of $87 million, as documented in an extensive report from the Washington Post.

But as for a strictly public pension? Zip, zero.

Romney only served one term as governor of the Bay State and did not take a salary, so he is eligible for nothing.

So while Romney appears headed for a happier retirement financially, he’ll be footing his own bill — unless, of course, he wins next month. In that case, his nest egg will be even that much bigger than Obama’s.

–

RELATED:

In CONTROL, Glenn Beck presents a passionate, fact-based case for guns that reveals why gun control isn’t really about controlling guns at all; it’s about controlling us. Find out more HERE.

Back to The Blaze »

Comments (76)

yiska8
Posted on October 18, 2012 at 2:09pm
It would be an amazing miracle if Obama ends up in Leavenworth, he still will collect a pension. Wishful thinking, because no one has guts to call him out for the destructive, anti-American usurper that he is. Hasan is still awaiting trial for the Ft. Hood TERRORIST ATTACK and collects his full pension every month.
American justice?

Report this comment
Log in to ReplyReply
- doomytram
  Posted on October 18, 2012 at 2:19pm
  Obozo is playing a wicked game of Craps with our Country. He has been heard yelling 7 come 11 with our tax revenue. He thinks that he can parlay spending 11 dollars for every 7 dollars in tax revenue we bring in……..I can fix this, Obozo’s say’s, imma going put a till on that pass line…..OOOps. Crapped out again….
  
  Report this comment
- Wool-Free Vision
  Posted on October 18, 2012 at 2:49pm
  Hahahaha! Check out the latest…
  
  At a campaign event for Barack Obama’s reelection campaign, Bill Clinton said that Mitt Romney’s argument “is true, we’re not fixed”:
  
  “Governor Romney’s argument is, we’re not fixed, so fire him and put me in,” said Clinton. “It is true we’re not fixed. When President Obama looked into the eyes of that man who said in the debate, I had so much hope four years ago and I don’t now, I thought he was going to cry. Because he knows that it’s not fixed.”
  
  Hahahahahahaha! The bloom is off the rose!
  
  http://www.weeklystandard.com/blogs/bill-clinton-romneys-argument-true-were-not-fixed_654893.html
  
  Report this comment
- Wool-Free Vision
  Posted on October 18, 2012 at 3:03pm
  Wow….
  
  Hillary Clinton trashes whiners
  
  Secretary of State Hillary Clinton says in a new interview that she can’t stand “whining” by women who are unhappy with the work and family choices they’ve made in life and complain that they have no options.
  
  http://www.politico.com/news/stories/1012/82586.html
  
  Are we witnessing the Clintons’ opening salvo in a Clinton-Obama feud here? Is Hillary trying to mock her party’s whiner base? Getting them riled up to go out and vote? But for whom?
  
  Report this comment
- ItsDaPlumber
  Posted on October 18, 2012 at 4:25pm
  Can you provide a link or something factual that Hasan is collecting a pension while sitting in prison? That seems hard to believe, but then again, it is our Government and stupid crap like that happens.
  
  Report this comment
- ObamaForward_OverTheCliff
  Posted on October 18, 2012 at 5:02pm
  yiska8 – “It would be an amazing miracle if Obama ends up in Leavenworth, he still will collect a pension.”
  
  Obama IN United States Penitentiary Leavenworth also might his pension. Either way, U.S. tax-payers are on that hook. That’s why we should vote for arrest, trial, and hanging (at the White House front entrance would be appropriate) for treason.
  
  NOT ONE MORE DIME for that Kenyan illegal alien!
  In fact, we demand ALL OUR DIMES BACK!
  
  Report this comment
Joel Knows
Posted on October 18, 2012 at 2:06pm
I found myself laughing out-loud when BO started talking about being raised by a poor single mother along with his brother. Seems he also had to walk 8 miles up-hill both to and from school, and always in the cold, deep snows of Indonesia and Hawaii. What happened with his step-father when they lived in Indonesia? From all I’ve read his mother’s parents weren’t lacking for money, and the private schoosl he attended weren’t cheap either. Seems maybe he “stretched” the truth a bit about how he grew up. I guess compared to how he’s been living on the tax payer’s dollar the last 4 years he has to feel his life was pretty poor before he was elected. How many vacations has he and his wife gone on while serving in the White House? How much does it cost him to play a round of golf, and what courses does he usually play on? What does his wife spend on clothing per month on tax payer money? What types of entertaining have they been doing all through the Presidency?
Give me a brake BO, as someone once said “would you like some whine with your cheesy stories? Oh, forgot he’s still whining about what he inherited from the Bush adminstration.

Report this comment
Log in to ReplyReply
- doomytram
  Posted on October 18, 2012 at 2:22pm
  A typical white woman
  
  Report this comment
nickc66
Posted on October 18, 2012 at 2:04pm
I guarentee that when Romney is done with his presidency in four or eight years he will take zip for his public pension. That’s the kind of man he seems to be.

Report this comment
Log in to ReplyReply
- 700P
  Posted on October 18, 2012 at 2:22pm
  I wouldn’t be surprised if he only takes a dollar s year (like in MA). If he said that now the dems and would have a field day though
  
  Report this comment
dublinthewagons
Posted on October 18, 2012 at 1:44pm
Upon retirement as president, Obama will go into business for himself.
Obama’s Secrets lace underwear company. (For gays)

Report this comment
Log in to ReplyReply
- 2MINUTESTOMIDNIGHT
  Posted on October 18, 2012 at 1:52pm
  After reading your comment, I need one of those memory erasing pills to get the image out of my mind. Thanks a lot.
  
  Report this comment
- PATTY HENRY
  Posted on October 18, 2012 at 2:23pm
  AXELROD is all over the place – spreading lies as fast as he can. HE knows that this is the final countdown and that his guy is losing big time.
  WHAT is tragic about this is their distortion of what a fine man ROMNEY is.
  ROMNEY wants to SERVE this country he loves – OBAMA wants to RULE it
  ROMNEY wants to SAVE this country’s Businesses – OBAMA wants to DRAIN them
  ROMNEY wants AMERICA to be a WORLD LEADER – OBAMA wants a One World Government from UN
  
  AXELROD/OBAMA try to paint everyone with their sick philosophy – everything they accuse ROMNEY of is stuff they’ve been caught doing…but they don’t get it: CONSERVATIVES do not throw rocks through opponent’s office windows; CONSERVATIVES do not look down on others – most of them are GODLY and know that to GOD, we are all equals whereas Islamics and Atheists do try to set people up to ‘lord’ over other people.
  THE BOTTOM LINE IS THIS: NEVER TRUST anyone who wants to TELL masses what to do. They don’t ever care about the MASSES, they just care about themselves and if asked, they-themselves would NEVER submit to someone else….ask OBAMA if he would take rules from other people IF HE HAD NO SAY-SO !!! It’s only if THESE LIBERALS are the ORDER MAKER will they accept it.
  MAKE this fact clear to others who may not be sure which way to vote. Communists always push communism – as long as they are in the ruling class of Communism.
  
  Report this comment
- whiteshirt
  Posted on October 18, 2012 at 4:58pm
  dont know if anyone noticed but me, there in plain site , when O was holding his mic,under his white shirt sleeve was a real purtty pink shirt or blouse .(long sleeve of course ) if you get a chance to see any of the re-runs look up the sleeve on the mic hand hummmmmm ???
  
  Report this comment
Comeandtakeit
Posted on October 18, 2012 at 1:44pm
I wish Romney would put out an ad showing how much Obama’s pensions and expenses cost the TAXPAYER and contrast it with not taking any taxpayer funded pensions himself. I wish he would also pledge to not take a salary or pension from the taxpayers if he is elected! THAT would really put Obama on the defensive! I think he should keep the Secret Service protection, though, for safety sake, as should Obama. But how about challenging him to also give up his salary and pension? Let’s see some PUBLIC SERVICE here.

Report this comment
Log in to ReplyReply
- Lt_Scrounge
  Posted on October 18, 2012 at 6:23pm
  I’d like to see Romney hit Obamao on his charitable giving. How about a comment of “If you truly believe that people who have been as blessed as you have been should give more, why do you give so little of your own money to charity?” Since Romney out gives Obamao and Biden COMBINED by either dollar amount or percentage of income, it should REALLY show exactly how much of a liar Obamao really is. If Romney REALLY wanted to stick the knife in and twist it, he could pull out his check book and say “How about this, since I’ve actually been successful in my life, I’ll match whatever amount you give with a check to the Salvation Army. Come on Mr President, if you truly believe that you should give more, here’s your chance to really do so, AND get a rich guy to do so as well.” Put the screws to him the way Rush Limbaugh did to the Senators who tried to have him fired by writing a letter to Clear Channel communications. The CEO of Clear Channel gave Rush the letter and Rush auctioned it off on EBay for a donation to the Leukemia and Lymphoma Society and then MATCHED the multi million dollar donation from his own pocket.
  
  Report this comment
- pamela kay
  Posted on October 19, 2012 at 3:46am
  That would win the election for sure COMEANDTAKEIT, you rock. I hope someone from the Romney camp reads this. Oh my gosh the dems would crap their pants. That would go down in history!
  
  Report this comment
kalli
Posted on October 18, 2012 at 1:39pm
The fraud in the WH deserves no pension for his destruction of America, no secret service, no other privileges given to former leaders. He DOES deserve to serve life in Gitmo for crimes against America and failure to uphold the oath of office he has totally ignored. May his life be more miserable than the misery he has brought American citizens during his 4 years of devastation.

Report this comment
Log in to Reply Reply
762x51
Posted on October 18, 2012 at 1:38pm
It would have been worth ten times that amount to keep him out of the White House these last four years.

Report this comment
Log in to Reply Reply
2MINUTESTOMIDNIGHT
Posted on October 18, 2012 at 1:38pm
And lets not forget the funds that undoubtedly flowed from Solyndra (and other green engergy hoaxes) into the Kenyan’s pocket. This miserable, worthless POS is a disgrace not only to the office of the president, not only to the United States of America, but to humanity as a whole.

Report this comment
Log in to Reply Reply
stoptyranny
Posted on October 18, 2012 at 1:35pm
We need a “lemon law” for all politicians.

Report this comment
Log in to ReplyReply
- Baja
  Posted on October 18, 2012 at 1:41pm
  And drug testing.
  
  Report this comment
- MeteoricLimbo
  Posted on October 18, 2012 at 2:01pm
  Hey now, Joltin Joe needs a little giggle weed to cope with Dingle Barry 4 to 6 hours a day, evidently he Bogarts.
  
  Report this comment
- 2MINUTESTOMIDNIGHT
  Posted on October 18, 2012 at 2:06pm
  And a Marxist Anti-colonialist test.
  
  Report this comment
RaydocX
Posted on October 18, 2012 at 1:29pm
the man who wants the rich to pay ‘their fair share’ has availed himself to loopsholes my accountant doesn’t apparently know about, so that he paid not only a lower percentage of taxes but nearly less in overall taxes in the last two years compared to my family, despite making several times what we make.

it is infuriating that the press has let him get away with acting like he is some dirt poor kid off of the street… he does not know what Joe Citizen endures any more than Romney, accept that Mitt has been out in the real world, instead of leading the sheltered insular life of ‘the Chosen one.’

maybe the citizens should file suit that BHO has to share the profits of all future speeches and books, since his chacet will have been won at our expense!

Report this comment
Log in to Reply Reply
AxelPhantom
Posted on October 18, 2012 at 1:27pm
How much of Obama’s retirement, just like his life, will be funded by the taxpayers of Illinois and the country?

Romney refused salary (except for $1 to make it legal) and benefits as Governor so he will be ineligible to receive pension payments from the state of Massachusetts. His retirement is all privately funded by the efforts of none other than…… Mitt Romney.

Report this comment
Log in to ReplyReply
- SouEu
  Posted on October 18, 2012 at 1:57pm
  When he was asked to help save the Olympics, he also refused a salary. He devoted all of his time, energy, and talents, and asked for nothing in exchange.
  
  When his father George Romney died, Mitt donated all of his inheritance to charity. Mitt probably donates more to charity each year than all of the Democrats in Washington put together.
  
  There is a pattern here, Mitt is just a good man.
  
  Report this comment
- desertspeaks
  Posted on October 18, 2012 at 2:59pm
  another person of color on the public dole! who woulda thunk it.
  
  Report this comment
wboehmer
Posted on October 18, 2012 at 1:23pm
Only an idiot would begrudge any president his pension & other perks of the office.

But Øbama’s condescending smirking attitude during this debate exchange only shows why he never should have been elected in the first place.

WORST PRESIDENT EVER!

Report this comment
Log in to ReplyReply
- SCREW-WINDOWS
  Posted on October 18, 2012 at 2:01pm
  You would think that a do good community organizer would give his current paycheck to a charity other than Moochelle he is a hypocrite who secretly loves the free market system.
  
  Report this comment
term limits for congress
Posted on October 18, 2012 at 1:20pm
As we’ve seen, the Golden Goose of public pensions/benefits is dieing all over the world and here. You’d think BHO and the other communists would be more interested in a healthy economy in order to keep the Golden Goose delivering.

Report this comment
Log in to ReplyReply
- SCREW-WINDOWS
  Posted on October 18, 2012 at 2:03pm
  He can always fall back on carjacking.
  
  Report this comment
godlovinmom
Posted on October 18, 2012 at 1:18pm
Do as I say..not as I do…comes to mind!

Report this comment
Log in to Reply Reply
PlanetReality
Posted on October 18, 2012 at 1:17pm
Imagine that and doesnt even look at it!!!!! the only one doing better than america in the last four yrs is the president!!! Public office is sure nice just ask pelosi, reid and biden The only job where the taxpayers pay u as we struggle and u come out filthy rich!!!!!

Report this comment
Log in to Reply Reply
MN NICE
Posted on October 18, 2012 at 1:15pm
Hmmmm. After reviewing my 401 and IRA accounts, I can look forward to retiring somewhere between 70 and death (whichever comes first)…

Report this comment
Log in to Reply Reply
Female
Posted on October 18, 2012 at 1:12pm
Romney is consistant in character and leadership. I would be surprised if he took a salary or govt. pension. I wish he would announce it and encourage others of wealth in office to do the same….setting an example of servitude, honor, and sacrifice for the people not by the people. No parties and no golf on our dimes….pays his own vacation costs, …this is a man who moves himself out of his sold home, and shuts-off the lights when he walks out of a room. He will actually line by line the budget!

Report this comment
Log in to ReplyReply
- I support God's Israel!
  Posted on October 18, 2012 at 1:18pm
  Obama should be impeached and then made to pay back, the the American people, the amount of money he added to the DEBT since he came into the Presidential office!
  
  LET’S SEE HOW HE LIKES PAYING THAT!
  
  OBAMA IS SUCH A HYPOCRITE WITH OTHER PEOPLE’S MONEY!
  
  Report this comment
- brasasman
  Posted on October 18, 2012 at 1:23pm
  The more that I hear about Romney the more I feel good about who he is as a man and the incredible symbol that he could be for our nation and the coming generation as an example of what we should aspire to be. I could care less for wanting to be famous and be in the “in” crowd of Hollywood and Romney is exactly the opposite.
  
  Report this comment
BLACKDIAMONDSKIER
Posted on October 18, 2012 at 1:12pm
Isn’t there a song that says…..”We’ll put a boot in your ass……..courtesy of the Red, White, and Blue.” Ohhh yea….For those that need a gentle reminder. Here’s to pensions!!!!

http://www.youtube.com/watch?v=c9r0haVPDAo

Report this comment
Log in to Reply Reply
Ironeagle
Posted on October 18, 2012 at 1:09pm
If Glenn pays about $1M for his security detail every year, then how much will the President’s secret service detail cost the taxpayer after he’s out of office? All that should be factored in too!

Report this comment
Log in to ReplyReply
- RJJinGadsden
  Posted on October 18, 2012 at 1:17pm
  I’m sure he will do the same thing the Clinton’s did when he left office and moved into his NY home. Charge and outrageous rent to house the Secret Service and staff allotted to him. If I am not mistaken, neither Bush 41 or 43 do this.
  
  Report this comment
- I support God's Israel!
  Posted on October 18, 2012 at 1:20pm
  At least Glenn is paying it out of his own pocket.
  
  IMPEACH OBAMA!
  
  Report this comment
- Wool-Free Vision
  Posted on October 18, 2012 at 1:31pm
  Even though Obama appears to be set for life, I have this happy place I like to go to where I am flipping through the channels in 2035 or so, and I happen upon the Indira Winfrey Show (that’s Oprah’s genetically engineered test tube offspring).
  
  She is doing a show about a guy who, just like Ted Williams the homeless man with the golden voice, was found standing on a corner, this time in Chicago. He was holding a handwritten sign that said “Will Pander For Choom.” His story is fascinating, as he claims that he was once president of the United States of America before his wife left him and took him for everything he had. He couldn’t find work because every potential employer in the country knew of his incompetence and his penchant for deceit and divisiveness.
  
  Yes, in my happy place, this poor old fellow is none other than the man responsible for killing liberalism and progressivism in America – Barrack Hussein Obama.
  
  Then there’s my nightmare where he goes onto become Sec. Gen. of the UN and is responsible for picking the bones clean of the very nation whose economy he destroyed.
  
  Report this comment
blackyb
Posted on October 18, 2012 at 1:06pm
This man Obama should be out of Office with NO pension. He should be in jail and all those allowed him to run for office in this country knowing who he is with him.

Report this comment
Log in to Reply Reply
Detroit paperboy
Posted on October 18, 2012 at 1:06pm
He is a 1% er…….l

Report this comment
Log in to Reply Reply
kat747
Posted on October 18, 2012 at 1:06pm
The figures I would like to see are the amounts in the off-shore accounts from the stimulus money, the unions campaign contributions and the regular campaign contributions
in the name of Barry Dunham and Barry Soetoro and B.H. Obama.
And the wife and children.
How about trust accounts, annuties, etc.
We already know what Barry’s 4 Million Dollar home in Chicago and the multi-million dollar mansion in Hawaii are worth.
Talk about a RICH GUY ?????

Report this comment
Log in to Reply Reply
DimmuBorgir
Posted on October 18, 2012 at 1:06pm
Doesn’t matter, liberals don’t know that there’s a difference between public and private dollars.

And Obama already said it so it must be the truth. (to libs)

Report this comment
Log in to Reply Reply
1TrueOne55
Posted on October 18, 2012 at 1:05pm
Again smoke and mirrors. Maybe we should call Obama the “Wiz” from the BLACK version of the film classic “Wizard of OZ”.

Report this comment
Log in to Reply Reply
IMCHRISTIAN
Posted on October 18, 2012 at 1:02pm
That is just great, while the President and all the rest get a healthy pension and healthcare plan and we are stuck with the one healthcare plan that was forced on us and could be costly to our pocketbooks and our lives. At least I will be able to face God.

Report this comment
Log in to Reply Reply

It appears that you have Javascript Disabled. Please enable Javascript in your browser preferences for a better user experience on TheBlaze. You can not comment without Javascript enabled.