Someone told me that if our beloved US Senator burr(?) is defeated after only one term in the US Senate he will receive something like $47,000 a year in retirement!
WHY?
Because he is in the Good OL Boy Club .
If Obama loses in 3 years ,why do we have to pay him $400,000 a year the rest of his life ? Because he is in the Club and we are not .
the Presidential pension was enacted for Truman, who was not a wealthy man, and became President by inheritance. he was not employable, in those days, and the embarrassment of a poor former president moved Congress to establish the pension.
the retirement for Senators is because it kicks in at 5 years for federal employees. sweet.
http://www.senate.gov/reference/resources/pdf/RL30631.pdf"Members of Congress are eligible for a pension at age 62 if they have completed at least five years of service. "
http://www.senate.gov/reference/common/faq/retirement_for_members.shtml
