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**Karensmith** · 03-30-2011, 04:19 AM

http://investmentwatchblog.com/obama...tively-modest/

Obama calls Gibbs $174,000 salary ‘relatively modest’…

January 7th, 2011

Perhaps it was the long flight back from Hawaii. But President Obama’s first full day back on the job suggested a slight case of tone deafness.

In bidding a sort-of farewell to White House spokesman Robert Gibbs, he noted the “relatively modest pay” for which Gibbs has labored.

In fact, he earns $172,200 in a nation where the average family income hovers around $55,000, unemployment is high, record foreclosures persist and wages for most folks are at best stagnant.

But implicit in Gibbs’ departure is the desire to slow down, recharge and earn a lot more money, especially after an arduous several years where he’s been on call 24/7. He’s hired an esteemed lawyer-agent, Robert Barnett, and is expected to hit the very lucrative speaking tour universe exploited by Washington insiders, including high-profile journalists.

It’s a world in which a one-hour appearance can bring more than many Americans earn in a year, with the elite in the roughly $50,000 to $75,000 range. You offer a few benign inside anecdotes, take some questions and then get taken back by limo to the airport and a seat in first-class (assuming your deal doesn’t include a private jet, as is the case for some journalists I know).

For sure, working at a high level in the capital brings contact with many who exit government to rake in huge sums. It’s why so few high-ranking Senate and House members return home after retirement or defeat. There’s just too much money to be made in Washington, often as a shameless influence peddler.

03-30-2011, 04:19 AM	#2
Karensmith Join Date Nov 2005 Posts 573 Senior Member	http://investmentwatchblog.com/obama...tively-modest/ Obama calls Gibbs $174,000 salary ‘relatively modest’… January 7th, 2011 Perhaps it was the long flight back from Hawaii. But President Obama’s first full day back on the job suggested a slight case of tone deafness. In bidding a sort-of farewell to White House spokesman Robert Gibbs, he noted the “relatively modest pay” for which Gibbs has labored. In fact, he earns $172,200 in a nation where the average family income hovers around $55,000, unemployment is high, record foreclosures persist and wages for most folks are at best stagnant. But implicit in Gibbs’ departure is the desire to slow down, recharge and earn a lot more money, especially after an arduous several years where he’s been on call 24/7. He’s hired an esteemed lawyer-agent, Robert Barnett, and is expected to hit the very lucrative speaking tour universe exploited by Washington insiders, including high-profile journalists. It’s a world in which a one-hour appearance can bring more than many Americans earn in a year, with the elite in the roughly $50,000 to $75,000 range. You offer a few benign inside anecdotes, take some questions and then get taken back by limo to the airport and a seat in first-class (assuming your deal doesn’t include a private jet, as is the case for some journalists I know). For sure, working at a high level in the capital brings contact with many who exit government to rake in huge sums. It’s why so few high-ranking Senate and House members return home after retirement or defeat. There’s just too much money to be made in Washington, often as a shameless influence peddler.
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