This is from the Huffington Post:
"President Barack Obama, a best-selling author who received royalties of $2.5 million last year, will get hundreds of thousands more for a youth-oriented version of his published memoir and will write a nonfiction book after he leaves the White House.
Obama agreed in early January to deliver the new book after he leaves office. The White House said he already had a deal with Crown Publishing Group to write another book, and agreed Jan. 9 that he would produce the book after his term ends."
http://www.huffingtonpost.com/2009/03/19/obama-book-deal-500k-adva_n_176837.htmlI guess he needn't worry about his retirement and his health care costs.
Updated:
HuffPo story contiunes to say that:
"Obama didn't indicate how much he might get for writing the new nonfiction book, whose subject is yet to be determined. Terms likely would be negotiated at the end of his time in office. Former President Bill Clinton got $15 million for his book, "My Life."
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It doesn't take a genius in math to figure out that Obama's book deal is worth millions, my friends.