President Obama gives himself a pay cut

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http://www.huffingtonpost.com/2013/04/03/obama-salary_n_3008600.html

LEADING FROM THE FRONT

Sharing a bit of budget pain, President Barack Obama will return 5 percent of his salary to the Treasury in a show of solidarity with federal workers smarting from government-wide spending cuts.

Obama's decision grew out of a desire to share in the sacrifice that government employees are making, a White House official said Wednesday. Hundreds of thousands of workers could be forced to take unpaid leave – known as furloughs – if Congress does not reach an agreement soon to undo the cuts.

The president is demonstrating that he will be paying a price, too, as the White House warns of dire economic consequences from the $85 billion in cuts.

A 5 percent cut from the president's salary of $400,000 per year amounts to $20,000.

Obama will return a full $20,000 to the Treasury even though only a few months remain in the fiscal year, which ends in September. He will cut his first check this month, said the White House official, who was not authorized to discuss the decision publicly and spoke on condition of anonymity.