A tale of two paycuts

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.