In what will mostly be seen as a symbolic gesture, President Obama is planning to give 5 percent of his annual salary back to the U.S. Treasury this year. The New York Times reports that the “voluntary move” will apply retroactively from March 1, when the sequester cuts went into effect and go through the end of 2013.
5 percent of 10 months of Obama’s $400,000 salary will equal approximately $16,667, or about 0.000000111113% of GDP. A White House official indicated that the 5 percent number represents the approximate level of automatic spending cuts to non-defense federal agencies that took effect at the beginning of March.
“The president has decided that to share in the sacrifice being made by public servants across the federal government that are affected by the sequester, he will contribute a portion of his salary back to the Treasury,” the official said.
The announcement comes one day after Defense Secretary Chuck Hagel would be giving back 14 days worth of his salary in solidarity with his department’s workers who are facing 14-day furloughs.
The moves by Obama and Hagel and unlikely to have any direct impact on them, the individuals who lost salary or the federal government itself, but it’s the thought that counts, right?
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