Former Presidents Act - History

History

Before 1958, the U.S. federal government provided no pension or other retirement benefits to former United States presidents. Andrew Carnegie offered to endow a US$25,000 annual pension for former Chief Executives in 1912, but congressmen questioned the propriety of such a private pension. Legislation introduced that year to establish a presidential pension failed. In 1955 former President Harry S. Truman's limited financial resources for an office staff prompted legislation to provide benefits to former presidents.

When the Former Presidents Act took effect, there were two living former presidents: Herbert Hoover and Truman. Dwight D. Eisenhower was the first president to fall under the act upon leaving office.

President Barack Obama signed the repeal of the act with the "Former President's Act of 2012." This means all Presidents and their spouses after 1997 will receive lifetime Secret Service protection.

Read more about this topic:  Former Presidents Act

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Famous quotes containing the word history:

    What has history to do with me? Mine is the first and only world! I want to report how I find the world. What others have told me about the world is a very small and incidental part of my experience. I have to judge the world, to measure things.
    Ludwig Wittgenstein (1889–1951)

    The history of mankind interests us only as it exhibits a steady gain of truth and right, in the incessant conflict which it records between the material and the moral nature.
    Ralph Waldo Emerson (1803–1882)

    Considered in its entirety, psychoanalysis won’t do. It’s an end product, moreover, like a dinosaur or a zeppelin; no better theory can ever be erected on its ruins, which will remain for ever one of the saddest and strangest of all landmarks in the history of twentieth-century thought.
    Peter B. Medawar (1915–1987)