Obama will make big bucks with this secret book bonus

As he empathized with recession-weary Americans, President Obama arranged in the days just before he took office to secure a $500,000 advance for a children’s book project, a disclosure report shows.

The terms of [...]

Read More and Comment: Obama’s $500,000 book bonus]]> Jim McElhatton and Christina Bellantoni, THE WASHINGTON TIMES

Obama will make big bucks with this secret book bonus

As he empathized with recession-weary Americans, President Obama arranged in the days just before he took office to secure a $500,000 advance for a children’s book project, a disclosure report shows.

The terms of the book deal were disclosed in a Senate financial disclosure report filed Tuesday.

Analysts say there don’t appear to be any rules that would bar such transactions after a president takes office, but it’s unclear whether an incoming or sitting president has ever signed a book deal upon entering the White House.

“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.