Symbolism Or Substance? Why the announcement? Why couldn't he have just written a check to the Treasury? Politics..........................
WASHINGTON– President Barack Obama plans to return 5% of his annual salary to the U.S. Treasury Department, a symbolic gesture of solidarity with federal workers facing possible furloughs because of the automatic spending cuts known as the sequester.
Mr. Obama’s decision, announced by a White House official Wednesday, would apply retroactively to coincide with the start of the sequester last month and apply for the rest of the calendar year. The 5% cut reflects the general level of cuts that kicked in March 1. The New York Times reported on the decision earlier Wednesday. Mr. Obama makes $400,000 a year.
The official didn’t know how many federal employees have already been subject to furloughs.
The salary announcement comes a day after Defense Secretary Chuck Hagel said he too would voluntarily give up part of his $200,000 annual salary, in solidarity with about 700,000 of his civilian employees facing mandatory furloughs this summer. Mr. Hagel’s decision follows a similar move by Ashton Carter the deputy defense secretary.