Does the president get paid for life?

However, $400,000 is the president's base salary. He also gets a $50,000 expense account for job-related expenses, a $100,000 travel account and a $19,000 entertainment account.

While taxpayers cover the cost of Air Force One, the presidential helicopter, his security detail and housing, life inside the White House is not a free ride.

The president has to pay for his own personal expenses such as clothes, dry cleaning and any meals he and his family eat in their private quarters. Meals connected to his official duties are covered by taxpayers. For instance, if donuts are served at a meeting, taxpayers foot the bill. If the president wants donuts for breakfast, he pays for it.

"You are the most powerful person in the world," said Jacobs. "That in itself is a big pay day."

So what about when presidents leave office? George W. Bush will get a yearly pension worth about $180,000.