Monday, 9 June 2014
‘We came out of the White House dead broke and in debt’...Hillary Clinton
Former First Lady Hillary Clinton isn't ashamed of the massive amount of money she and husband Bill Clinton have earned over the last decade through high-paying speaking gigs.
Hitting the speaking circuit was a necessity in order to maintain their lifestyle after Bill's term as the 42nd President of the United States ended, Clinton told ABC's Diane Sawyer in a sit-down interview ahead of the release of her book Hard Choices.
'We came out of the White House not only dead broke, but in debt,' Clinton said. 'We had no money when we got there, and we struggled to, you know, piece together the resources for mortgages, for houses, for Chelsea's education.'
'You know, it was not easy.'
The couple has earned millions since moving out of 1600 Pennsylvania Avenue through plum speaking engagements that are said to run hosts $200,000 a pop and advance payments on their books of $8 million or more.
CNN reported a year ago that Bill Clinton had earned a sweet $106 million in speaker's fees since leaving the White House, and that he made $17 million off of 72 speeches in 2012 alone - a personal best.
The news station combed through the Clintons' financial disclosure forms and found that Bill Clinton once charged $750,000 for a single speech.
'Bill has worked really hard -- and it's been amazing to me -- he's worked very hard,' Hillary told Sawyer during a segment of their interview that aired this morning.
'First of all, we had to pay off all our debts, which was, you know, he had to make double the money because of obviously taxes and then pay off the debts and get us houses and take care of family members,' she said.
A comprehensive analysis of Hillary's speeches conducted by Mother Jones puts the former secretary of state's haul to more than $5 million since last year.
A sizable portion of that money has come from the same financial institutions and 1 percent of society that many progressives claim to loathe.
Rather than take money from any one organizations lobbyist group, Hillary Clinton has welcomed them all.
'Let me put it this way,' she told Sawyer. 'I thought making speeches for money was a much better thing than getting connected with any one group or company as so many people who leave public life do.'
'I happen to have given lots of free speeches,' Clinton said.
Hillary does not take payment for speeches she gives on behalf of the Bill, Hillary & Chelsea Clinton Foundation, the family's non-governmental organization.
The Clintons have also made anywhere from $31 - $37 million off of their books since 2003 in advance payments.
Knopf Publishing Group paid Bill Clinton $15 million for his 2004 autobiography My Life. Simon & Schuster gave Hillary Clinton an $8 million advance for her 2003 book Living History. Her advance for Hard Choices, which comes out tomorrow, is not known, but guesstimates put the payout between $8 and $14 million.
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