BREAKING: Obama Just Gave Himself A HUGE Pay Raise... FOREVER According to recent reports, the Congressional Research Service reports that for requests for both 2016 and 2017 fiscal years, Obamas proposed federal budget would expand funding by as much of $25,000. To top it off, Obama is proposing an 18% hike in expenditures for former Presidents The move is part of the the Former Presidents Act, which was enacted in 1958 to provide living former presidents with a pension, office staff and support, funds for travel, Secret Service protection, and mailing privileges. It is also provides benefits for presidential spouses (hint hint, Michelle Obama). At the moment, former presidents are awarded with a pension equal to the salary of cabinet secretaries, which totaled $203,700 for the 2015 calendar year. Those who oppose the act are concerned that it financially supports former presidents who are not struggling. Instead, these former leaders are profiting from books they are writing or appearing at speaking engagements. Take Bill Clinton for instance, who earned $132 million for delivering paid speeches between February 2001 and March 2015, according to an analysis from CNN. Republicans in the House and Senate have worked hard to push legislation that would cap annual pensions for former presidents at $200,000. The bill also proposes that the pension be cut by a dollar for every dollar the former president earns over $400,000 in the private sector Its pretty simple, Rep. Jason Chaffetz, who introduced the bill in the House, told ABC News. You want a retirement and pension, its there. But if youre going to go out and make enormous sums of money, then you dont need taxpayer subsidies. The House approved the measure in January with bipartisan support. Of course, Obama doesnt abide by common sense. 