President Obama, who initiated the sequester process as part of his concessions to Speaker Boehner as part of the negotiations to raise the debt ceiling, is now making a symbolic gesture of solidarity with the people affected by his sequester cuts by refunding 5% of his salary to match the cuts in the rate of growth for employees of federal agencies affected by the cuts.
The show of unity will cost the president $20,000 a year since his salary is $400,000. His pay is constitutionally protected against pay cuts and a budget agreement superfluously exempted him from pay cuts along with members of congress. Supporters of the president have seized on his gesture as proof that he stands with the people. Remember, the sequester cuts do not lower the amount of federal spending; they lower the rate of how fast it increases.
Nevertheless, federal agencies have chosen to pass the modest reductions in their budget increases on employees by imposing pay cuts upon them either by salary reductions or unpaid furloughs. It is unclear why President Obama did not direct those in charge of the affected agencies to spare employee salaries from any pay cuts.
It is quite obvious workers would prefer to have their salaries spared rather than have the president sacrifice 5% of his pay in a “shared sacrifice” with them. By his own definition of high income earners (those who make over $250,000 a year), his 5% pay cut is “chump change” especially when compared to the 5% cuts for federal employees making much less than him.