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After it was discovered that former president Harry Truman was living off his Army pension and little more, Congress passed the Former Presidents Act of 1958. The act was implemented to prevent former presidents from having to sell their names and the presidency to live comfortably. Truman believed that he "could never lend himself to any transaction, however respectable, that would commercialize on the prestige and dignity of the office of the presidency."

When in office, President Truman made $100,000 a year. When he retired he lived off his pension from the Army. Reserve Colonel Harry Truman, Field Artillery, got retirement pay of $112.56 a month.

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17y ago

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