President Barack Obama’s second term is almost over. And not soon enough! Now, he’s going to ask for $1 billion to build his presidential library, which is more than three times the cost of President George W. Bush’s.
While donors will pay for the library, taxpayers will be on the hook for the cost of its yearly operation and upkeep… forever!
President Barack Obama’s post-presidency plans come with a hefty price tag that could exceed $1 billion, The New York Times is reporting.
Advisers mapping out life after the White House for the president and first lady Michelle Obama are preparing fundraising strategies to raise at least $800 million for the Obama Library and foundation.
That number, according to The Times, is the minimum for an Obama endowment. Obama’s lofty plans for a high-tech, digital-first library and worldwide foundation could exceed $1 billion, twice the amount raised by President George W. Bush.
“His focus is on finishing this job completely, thoroughly,” Obama-confidante Valerie Jarrett told The Times.
Oddly, the library, to be built on Chicago’s south side, will have an office for the president he likely will rarely use.
The Obamas are expected to stay in Washington until their younger daughter Sasha, 14, finishes school there. Obama also is expected to have an office on the campus of Columbia University in New York City, according to The Times.
A voracious fundraiser, Obama pledged not to actively raise money for his post-presidency plans while still in the White House.
Still, money has been donated — about $5.4 million.
Cash is rolling in from donors who likely want favors from Obama before he exists the White House. After all, who gives 6- and 7-figure donations, and expects nothing in return?
Among the largest donors were Chicago publisher Fred Eychaner, who gave $1 million, followed by Chicago hedge fund operator Michael Sacks and his wife, Cari, who gave $666,666.
And the Obamas held a dinner at the White House recently for potential donors, though donations were not actively solicited.
Still, the fact that the president will be raising for his library elevates concerns of potential conflicts during his final months in office.
Considering after two terms, Obama seemed more like the Community Organizer in Chief than a President, just what will be in the library? Pictures of all the celebrities he partied with while America’s economy suffered?
And perhaps the cafeteria can be dedicated to serving the horrendously low-calorie food Michelle Obama has forced on every public school student.
Obviously there will be no place in the library to learn about the Benghazi terrorist attack, Fast and Furious, the IRS targeting scandals, or the trading of an AWOL soldier in exchange for dangerous Taliban leaders.
One billion is an absurd amount of money, and a tribute to the wastefulness of America’s worst President.
What do you think about the Obama library plans? Please leave us a comment (below) and tell us what you think.
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