Support Marketplace

A tale of two paycuts

U.S. President Barack Obama walks from the Oval Office to the White House residence before departing on Marine One April 3, 2013 in Washington, D.C.

And finally today, a tale of two paycuts. One voluntary, the other involuntary.

President Obama's apparently decided he will give back 5 percent of his $400,000 salary. The White House says he's returning the money in light of all the federal workers furloughed by the sequester, those automatic across the board spending cuts. That's a sacrifice of about $20,000 a year.

The CEO of struggling JCPenney, on the other hand, got a 97 percent cut in compensation -- and that wasn't voluntary. That brought Ron Johnson down to about $1.9 million a year.

I think both gentlemen will survive.

About the author

Sarah Gardner is a reporter on the Marketplace sustainability desk.

Comments

I agree to American Public Media's Terms and Conditions.
With Generous Support From...