President Barack Obama has requested a raise in the amount of money allotted to former presidents of 18 percent, according to a report by Congressional Research Service.

“The President’s FY2017 budget request seeks $3,865,000 in appropriations for expenditures for former Presidents, an increase of $588,000 (17.9%) from the FY2016 appropriation level,” the report says.
Obama leaves office in January 2017, and the increase in requested funds for FY2017 “anticipates President Barack Obama’s transition from incumbent to former President,” the report says.

For FY2016, Obama requested and received appropriations of $3,277,000 for expenditures for former Presidents, which is an increase of $25,000 from FY2015.

Former presidents began receiving pay after leaving office in after passage of the Former Presidents Act in 1958. The law was passed in response to former President Harry Truman having financial difficulties in his post-presidency.

“Some critics of the Former Presidents Act say the statute subsidizes Presidents who are not struggling financially,” the report reads. “Others argue that although a former President is not in a formal public position, he remains a public figure and should be provided a pension and benefits that permit him to perform duties that emerge as a result of his public status.”
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The intent of the law is to provide for a dignified life for presidents after leaving office. Though many are financially secure, Truman and Ulysses S. Grant both struggled.

The annual pay is equal to that of the head of an executive department, which was $203,700 in 2015. It was raised to $205,700 in 2016.

Widows of former presidents receive $20,000 per year.

http://www.newsmax.com/Newsfront/obama-raise-pay-hike/2016/03/20/id/720028/