Obama Takes Self-Imposed Pay Cut

WASHINGTON (April 3, 2013)--President Barack Obama will return 5 percent of his salary to the Treasury to share the pain of thousands of federal workers facing furloughs in light of automatic spending cuts, the White House said Wednesday.

A White House official says Mr. Obama decided to return part of his salary each month for the rest of the year to share in the sacrifice that government employees are making.

The official wasn't authorized to discuss the decision publicly and spoke on condition of anonymity.

The president makes $400,000 per year so the 5 percent pay cut amounts to a little less than $1,700 per month.

The decision is retroactive to the beginning of March, which is when $85 billion in federal spending cuts kicked in after lawmakers failed to agree on a plan to undo them.

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