Just five days before his inauguration, President Obama quietly signed a lucrative $500,000 deal for a children’s book.
Terms of the deal were revealed in Senate financial disclosure forms on Tuesday.
Although there’s nothing “illegal” about the deal, observers say it unusual. And others say its unseemly. No other incoming or sitting president has ever signed a similar publishing deal.
Here’s what the Washington Times says:
“I don’t recall any sitting president entering into a book deal,” said campaign finance lawyer Jan Baran, former general counsel to the Republican National Committee. “They all have historically done that after they leave office.”
“I recall the only ones who did sign book deals while living there were first ladies, and my recollection is they gave it to charity.”
Mr. Obama approved the $500,000 advance on Jan. 15. The advance is against royalties under a deal with Crown Publishing, a division of Random House. The project calls for an abridged version of his book “Dreams From My Father” for middle-school-aged children, according to the disclosure.
Obviously, Senate Financial Disclosure forms are inadequate.
What they really need are Senate Socialism Disclosure forms. Or Senate Senate “I’m Going to Tax Your Asses Off” forms. And maybe, just maybe, Senate “I’m Way In Over My Head” forms.
Source: Washington Times
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So that’s what he’s been working on since January 20 — a childern’s book. Maybe congress will get time to read this one….
Madam OC Madam,
I hear he’s also been busy this week working with Leno on getting his teleprompter hidden in the NBC studio for tonight’s show.
Not only is this unseemly, but so is a sitting President being on the Tonight Show. It seems that Obama is more concerned about his celebrity status than how to fix the problems we face.
I have my finger’s crossed that the children’s book is a collection poems relevant to the life and times of inner city kids who dream of one day growing up to be the HMFIC. I’m sure it will be a wonderfully inspirational collection; it would also be a bonus if it included a rap video.
I am disappointed that the President didn’t negotiate a higher salary, though. The book deal is only a hundred grand more than he makes in an entire year as a sitting president (excluding kickbacks and undiscovered graft and corruption, of course).