On "Forbes Newsroom", Forbes reporter Kyle Khan-Mullins joins Brittany Lewis to discuss why the next elected president may receive the weakest presidential salary in history.
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NewsTranscript
00:00I'm Brittany Lewis, a reporter here at Forbes. Joining me now is my Forbes colleague,
00:04money and politics reporter, Kyle Kahn Mullins. Kyle, thanks so much for coming on.
00:09Always great to be here, Brittany. Thanks for having me.
00:12As we sit here, we are less than four months away from election day,
00:16big presidential election, and you're reporting that the president in 2024 who is elected could
00:22be the worst paid president in history. How is that possible? What do you know?
00:27Yeah, that's what the math is telling us. So the president is paid a fixed salary every year.
00:34But what that means in an era that we live in these days of relatively stable inflation,
00:39and then the past couple of years, we've actually seen relatively high inflation,
00:42is that the value, the inflation adjusted value of that presidential salary declines over time.
00:48And so what we did is we took inflation data and presidential salary data going all the way
00:55back to 1789, when George Washington took office. And we basically were able to show
01:00that if inflation continues at its current pace, by 2028, the presidential salary will be at its
01:07lowest inflation adjusted value in American history. And so yeah, whoever wins the presidency,
01:12Biden, Trump, RFK Jr., who knows? One of them, whoever it is,
01:17could be the worst paid president in American history by 2028.