You may have heard by now that President Obama is planning a week-long trip to Africa with his family. You may even have heard the cost of the trip, anywhere from $60 million(1) to $100 million(2). This is a lot of money.
What you may not know now is President Obama's estimated net worth. A search on Bing for President Obama's net worth brings up the figure of $11,800,000.(3) This figure comes from his salary as President, book revenues, and various other endorsements. The purpose of this article is not to call into question the President's sources of income, but rather, the great gulf between his net worth and the cost of his trip to Africa with the First Family.
Let's do some math. The President brings in $11.8 million. The cost of his trip to Africa (the First Family will be staying a week) will be anywhere from $60 million-$100 million. If you subtract President Obama's salary from these figures, it leaves the taxpayers of the United States of America paying anywhere from $48.2 million-$88.2 million.
The President of the United States is not authorized to take public funds for personal use, even though many people would not mind it too much if he were doing a good job. This constitutes the crime of embezzlement.
Embezzlement is defined as "the fraudulent conversion of another's property by a person who is in a position of trust, such as an agent or employee."(4) Because President Obama is a government figure, this gives the term peculation to fit his crime.(5) Given the minimum amount of money he has embezzled on this trip ($48.2 million), he could end up having to pay $96.4 million, or more, and spend 20 years in jail.(6)
The evidence is clear. President Obama is guilty of the crime of embezzlement (peculation, since he is a government official). The Treasury Secretary is appointed by the President of the United States.
(1) http://www.huffingtonpost.com/2013/06/14/obama-africa-trip_n_3441510.html
(2) http://rt.com/usa/obama-africa-trip-cost-176/
(3) http://www.bing.com/search?q=President%20Obama's%20net%20worth&pc=conduit&ptag=A59CAE2F90A3F46CAB5F&form=CONOMX&conlogo=CT3210127&ShowAppsUI=1
(4) http://legal-dictionary.thefreedictionary.com/embezzlement
(5) http://en.wikipedia.org/wiki/Embezzlement#Embezzlement_versus_peculation
(6) http://voices.yahoo.com/civil-criminal-penalties-embezzlement-699129.html?cat=3
What you may not know now is President Obama's estimated net worth. A search on Bing for President Obama's net worth brings up the figure of $11,800,000.(3) This figure comes from his salary as President, book revenues, and various other endorsements. The purpose of this article is not to call into question the President's sources of income, but rather, the great gulf between his net worth and the cost of his trip to Africa with the First Family.
Let's do some math. The President brings in $11.8 million. The cost of his trip to Africa (the First Family will be staying a week) will be anywhere from $60 million-$100 million. If you subtract President Obama's salary from these figures, it leaves the taxpayers of the United States of America paying anywhere from $48.2 million-$88.2 million.
The President of the United States is not authorized to take public funds for personal use, even though many people would not mind it too much if he were doing a good job. This constitutes the crime of embezzlement.
Embezzlement is defined as "the fraudulent conversion of another's property by a person who is in a position of trust, such as an agent or employee."(4) Because President Obama is a government figure, this gives the term peculation to fit his crime.(5) Given the minimum amount of money he has embezzled on this trip ($48.2 million), he could end up having to pay $96.4 million, or more, and spend 20 years in jail.(6)
The evidence is clear. President Obama is guilty of the crime of embezzlement (peculation, since he is a government official). The Treasury Secretary is appointed by the President of the United States.
(1) http://www.huffingtonpost.com/2013/06/14/obama-africa-trip_n_3441510.html
(2) http://rt.com/usa/obama-africa-trip-cost-176/
(3) http://www.bing.com/search?q=President%20Obama's%20net%20worth&pc=conduit&ptag=A59CAE2F90A3F46CAB5F&form=CONOMX&conlogo=CT3210127&ShowAppsUI=1
(4) http://legal-dictionary.thefreedictionary.com/embezzlement
(5) http://en.wikipedia.org/wiki/Embezzlement#Embezzlement_versus_peculation
(6) http://voices.yahoo.com/civil-criminal-penalties-embezzlement-699129.html?cat=3
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