Obama Will Give Back 5% of Salary

President Obama “plans to return 5 percent of his salary to the Treasury in solidarity with federal workers who are going to be furloughed as part of the budget cutting process known as sequester,” the New York Times reports.

“The voluntary move would be retroactive to March 1 and apply through the rest of the calendar year… The White House came up with the 5 percent figure to approximate the level of automatic spending cuts to non-defense federal agencies that took effect that day.”