"Cost to Be the Boss" - A Breakdown of the President's Income by CreditLoan.com

New infographic details income, perks and financial net worth of President Obama.

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The presidential salary is almost eight times the average U.S. taxpayer’s salary.

Apollo Beach, FL (PRWEB) April 29, 2013

At a time when many Americans are struggling to pay their bills and political leaders in Washington seem unable to balance the federal budget without resorting to last-minute deals and stopgap measures, CreditLoan.com has released a new infographic that shows the full “Cost to be the Boss” of the U.S. government by describing in detail the income, perks of office, and retirement income prospects of President Obama.

The detailed graphic shows the sources of President Obama’s income and assets, including the presidential salary of $400,000 per year, and his private-sector income of royalties on sales of books he published prior to becoming president.

The presidential salary is almost eight times the average U.S. taxpayer’s salary ($54,450). The president’s hourly wage is approximately $223.84, while the average U.S. taxpayer (with full time employment) earns an hourly wage of $30.47 per hour.

But the president’s salary is only one small part of the overall cost that taxpayers pay to support the Office of the President. The total cost of staffing and maintaining the White House is over $1.37 billion per year.    

Travel is a costly item on the White House budget. The President’s plane, Air Force One, costs $180,000 per hour to fly. When the Obama family traveled to Hawaii during the Christmas holiday, it cost taxpayers over $7 million in travel and security costs.

“There has been a lot of discussion in Washington about how to balance the federal budget, and we thought it would be interesting to illustrate – using publicly available information – the full ‘cost’ of paying for the president’s salary, travel and White House expenses and perks of office,” says Dan Wesley, founder of CreditLoan.com. “At CreditLoan.com, we want consumers to be well informed about their own finances, and it can be interesting to compare our own families’ financial situations with those of our government leaders.”

About CreditLoan.com – CreditLoan.com provides consumers with personal loans, debt consolidation services, car loans and bad credit loans. Since people in debt need quick answers, consumers can apply online for quick approval results. For more information, visit http://www.creditloan.com.


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