Obama Signs Book Deal For Post-Presidency Book

WASHINGTON — 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.

About a week later, shortly before his inauguration, Obama agreed to a $500,000 advance for an abridged version of "Dreams From My Father" that would be suitable for middle school or young adult readers, according to a new personal financial disclosure report released this week.

Obama will get $250,000 of the advance and the publisher will get the other half, a White House spokesman said Thursday, speaking on condition of anonymity because he was not authorized to be quoted by name.

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."

Obama received nearly $2.5 million in book royalties last year for his two best-selling works _ "Dreams From My Father," which was written before he was elected to the Senate from Illinois, and "The Audacity of Hope."

Obama's financial disclosure report released this week covers January through Nov. 16, 2008, when he left the Senate. It shows that he and his wife, Michelle, have $1.3 million to $5.7 million in assets, which does not include their Chicago home. In addition, they have up to $550,000 in college savings plans for their two daughters.

The Obamas' holdings include $1 million to $5 million in Treasury bills purchased in October. They sold $500,000 to $1 million in Treasury notes last April, according to the report.

The book deal was first reported Wednesday by Congressional Quarterly.

Comments

[Grannysue]

The reason President Obama had already signed a book deal prior to entering office officially is because people want to hear him, as for Bush you can look for his books in the comic book section!

[bubbuh]

You are dissin' da comics! The Shrub's stuff will show up as a baby's chewable book with the squeaky thing inside if he writes it himself.

[centerdem06]

more like the children book section.

[mendelcrosses]

Would you let your child read a book writen by W Bush or any memeber from the Bush family?

I mean,It will be pure horror. Can u imagine the kind of book barbara could pen or W ?

Take a look at their minds and you will see what i mean.

[USA2Sense]

HEY, don't knock comic books - some of them are brilliant - and some of them have a lot of content - and I surely don't expect that either fact - or content - will be in Bush's book...........granted it will probably be all pictures with captions in little clouds - like comic books - but after all, what can you really do with 5 pages????

[klondiker]

This is kind of a misleading headling. He didn't sign the deal for a post-presidency book now. He already had a deal to write two books + a children's book. The first book was The Audacity of Hope. And, he decided now that he would be writing the second book after his presidency.

[bubbuh]

You just ruined a whole lotta fun!!! Phlwooooo!!!!

[HotGingerTea]

"No time for this?" Exactly -- read again. Obama is POSTPONING an established project (agreed upon prior to his election -- see below). It is unusual for a president to already be a best-selling author. Assessments about the "appropriateness" of this agreement and comparisons to other presidents need to take this into consideration.

From the text of this article: "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." ... OK -- YES this is at least in part an OLD 2004 DEAL now amended. UPI has a more complete version of the story over at:

http://www.upi.com/Top_News/2009/03/19/Obama_secures_500000_book_advance/UPI-82081237468228/

Condensing "Dreams...." will not take up Obama's time: "A White House aide said the deal had been in the pipeline for weeks and that the publisher will condense the book. The aide told the Times the publisher will receive half of the money while Obama will sign off on the final version."

The post-presidency books is a book he agreed to write in 2004 but that is now delayed until after he leaves office: "The disclosure also showed Obama amended an existing deal with Crown Publishing to delay writing a non-fiction work until after he leaves office. "

[bubbuh]

You just ruined a whole lotta fun!!! Phlwooooo!!!!

[RenoSage]

The Audacity of Hope was one of the best books I've read. I did not care as much for Dreams.
I will look forward to his next book in 8 years.

[lagumbo]

The brillance of PRESIDENT OBAMA should be spread to all. Stop being a player hater. The man is briliant ,he was born with it so stop being so jealous.

[roshni]

It will be spread to all. So many people want to read his book. I will surely pre-order it.

[mrskorn]

Brilliant? No, just full of himself.

[ThinkCreeps]

I pity Mr Korn. I really do. What other tremendous insights do you have to share?

[centerdem06]

Does an intelligent, successful, genuinely nice person have to always be full of himself? What makes you think he is full of himself? When has he ever shown an ounce of ego? Never. He takes ownership when things are not even his fault, he goes out to the people when he is President, hears what they have to say and actually does something about it. I've met President Obama and he is as genuine and down to earth as you get. He just happens to care about people and can talk intelligently. Bush was full of himself... hence why he only thought about himself.

[MissKaren]

Barack Obama ticks people off and it's often not racial. I think it's often jealousy. This guy has so much good stuff going for him that I think it's a red flag for those prone to envy. Even if he had not followed a dolt into the White House, he would have stood out.

[strangerinthenight]

bwahahahahaha. Rookie President who is being lectured by Emanuel. Yup, he does stand up - from 85% to 59% favorability rating.

Even Bushwacko didn't have that poor rating.

[NotMcCain]

Our President can adapt his own memors for kids.

But who's going to adapt Bush's book for adults?

[1dogs2]

Thanks for the laugh!

[MissKaren]

Will Bush's book come with a box of crayons?

[bubbuh]

Bush's book will come with a dark force generator. Working title is: "How To Have Your VP Pick You: Poses For the Cheerleader-In-Chirf."

[NotMcCain]

Why in the world would he sign a contract now?

Certainly--certainly!--he at least didn't lock in a price!!!!

[bubbuh]

The signing bonus.

[strangerinthenight]

The President best concentrate in solving the economy instead of making deals for this book. This is not the right thing to do at this time.

There are 4.4 million lost jobs, 650,000 more every month, companies and industries are closing, and with that million more jobs will be eliminated, the middle class will lose their health insurance. There at least 5 million homeowners that are in foreclosures and most will be driven out of their homes. The elderly are specially defenseless. Their savings, pensions and retirements are almost gone. The middle class who were paying their mortgages will soon unable to pay and then more foreclosures.

Instead of making book deals, the President is busy taking care of himself. THE AUDACITY !

[Dupree]

To: strangeinthenight:

He made a book deal BEFORE entering into office. This book deal is to take effect...AFTER he leaves office. What is the problem? The book that is in question is ALREADY written and will be revised and edited to be appropriate for middle school-aged children. On one hand...people moan and groan and say this man is doing TOO MUCH.....on the other hand...he is NOT doing enough. From my perspective...he is taking his job very seriously and is hitting the ground running. He may stumble over a pebble or two which is to be expected...last I heard ....we still elect human beings for this role as president and he no less will make mistakes along the way. However, for anyone to assume that this man that is tackling so many crisis on so many levels is not applying himself...they have their eyes shut and their hands over their ears...and their mind on shut down...to deliberately pretend he is not working hard...and yes...like other presidents previously...he will write a book AFTER he leaves office as the article indicated. Again I ask...what is the problem?

[randman2009]

He is not mere human being. He is The One.

[RJPasadena]

YaH! lIKE HE SAID...BEFORE HE ENTERED OFFICE.

[roshni]

Go F. Yourself and read the text before you spout off.
It said BEFORE he entered office.

[randman2009]

I like the Cheney quote. Yea its not like he had anything to do before entering office. You know, like vetting his appointees so he wouldnt look a fool when their problems came to light. Oh well, gotta make sure he gets paid first.

[strangerinthenight]

Telling me to go F myself is your argument ? Bwhahahahaha. Do you have compelling one.

[bubbuh]

This particular President can multi-task. Get used to it.

[strangerinthenight]

bwhahahahahah. He is being lectured by Emanuel, and relies mainly on Geithner - joined to the hip 24/7.

Rookie President.

[centerdem06]

This happened before he was President. Give the guy a break!!

[bubbuh]

Let's face it. When it comes to books, literacy beats illiteracy like a drum.

[rustygriswold]

It is hard to concentrate on the book with all that drumming.

[bubbuh]

Reminds me of another favorite - Jumanji - truly a story of the darkest bush.

[Just2stressed]

Why are we talking about a book deal? He just got into office and he's talking about a book deal?

[rustygriswold]

Why wait? The Obama Presidential Library is nearly completed and work has already started on the Obama Memorial on the National Mall.

[amistad]

Too bad Bush is still struggling to raise funds for his library and had an even bigger problem of finding someone to give him a book deal.

[Just2stressed]

During Bush's presidency, I can recall him making a joke about writing a book, and there was a big uproar....that he was insensitive, considering the many troops being killed and the never ending war in Iraq.

We need to stop being hypocrites.

[fumes2]

They should be starting soon to carve his face on Mt Rushmore.

[rustygriswold]

I can't wait for Michelle's workout videos titled , For The First Time in Your Adult Life You Can Be Proud Of Your Body.

[amistad]

I also can't wait to watch Laura Bush's video titled: How I Killed an Innocent Guy.

[rustygriswold]

Why? You know the ending, besides you should stick with the Teletubbies and Barney videos.

[roshni]

Bush and Wife: Homicidal Both.

[Dupree]

To: rustygrisowld:

Let me take out time in my busy life to fundamentally correct your thinking in error. I, as an African American/Native American woman found it offensive when Michelle was criticize for saying that for the first time in her adult life she was proud of this country. I took offense to all those insensitive white people who actually thought that Michelle experience in this country and how she expressed her patriotism...should pass their test of patriotism...when they had not a clue what that experience was for her or for that matter any average African American or person of color. History will affirm the fact that there was two Americas in operation and that will imply that there were two different experiences. I was infurious when she mocked and ridiculed for her words which I personally could appreciate and embraced without batting an eyelash...and why was I able to do this....for I walked in her shoes and understood the bitter sweetness of this country that treated some of her off springs as step children. The fact that she was still able to love and embrace this country and was proud of this country spoke to her own brand of patriotism that may even be stronger than those that did not struggle to the degree she and others of color did and YET still manage to love this country anyway.

[rustygriswold]

PSST, Dupree...come here...closer... a little closer... just a little bit closer. IT WAS A JOKE!!!!!!!
Get over yourself!!

[roshni]

Excellent post. Thanks for sharing your thoughts.

[randman2009]

Yes the poor woman. She came from the ghettos of Chicago and was accepted to Princeton, on a large scholarship no doubt. Then got in to Harvard Law, once again Im sure they looked out for her on the financial aide. Then she got a job at a top law firm making lots of cash, and ended up working a cush do-nothing job at a hospital making 300K while her husband was a US senator. Still that wasnt enough. Only when he was looking like the likely democratic nominee for president, could she feel proud. What high standards she has set for her country.

[bubbuh]

Ought to be better than Laura Bush's book which I understand has the working title of "Shhhhhhh!!."

[StillIRise]

looneybin: You suggested to me that I read my own post again because I sound like a "teenage girl gushing over a rock star." So I took your advice and read my post again.

In my post, I made reference to the fact that President Obama is intelligent, attractive, competent, politically and humanely appealing not only to the American people but to the global community, and that he is in stark contrast to President Bush.

I also referenced Michelle Obama as a beautiful and intelligent woman and the mother of two adorable daughters.

I then suggested that Republican trolls seem to resent these attributes of both President Obama and his family and their resentment shows up in the vacuousness of their responses to anything he or his family does that is positive or at the very least, is not negative. They cannot provide substantive arguments to support their criticism of him, so they sink to talking points, gibberish, silliness or go all the way off topic to counter comments celebrating his intelligence, competence, attractiveness, etc.

I'm still not picking up on the gushy teenage rock start thing though ...

But then, to prove my point, I get replies to my posts like yours!

[walk0nwalls]

Hold up:

Why does "Dreams" need to be adapted for a teen audience? It's one of my favorite books but it doesn't need to be adapted. Kids can get it, why does it need to be adapted?

[jordan3189]

More money, what else!

[rustygriswold]

It's called "brainwashing".

[roshni]

It's a brilliant book about racial identity and there are lots of multi-racial teens out there. Obama's own queries about racial identity happened when he was a teen.

This is the serious answer to your question.

[walk0nwalls]

Yes, but couldn't they just read the original version? They don't need a special version.

[jordan3189]

Bet he's bummed about that 90% tax hit he'll have to absorb, or do presidents get their own offshore account.

[Soundofthunder]

Time to get off the Rush Limbaugh marry-go-round, honey. It's turning your brain into mush.

SOT

[jordan3189]

You get that nickname from sitting around the campfire after a nice plate of baked beans.

[biglover]

And as to the Obama assets, they earned them, rightfully. They were not handed it to them on a platter. I am delighted because people like the Obamas will do good things with their fortunes.

I love our President and his family.

[roshni]

Me too.

[joycehelene]

We know that when President Obama writes a book it will be written well and will be an important one, what can one say for the book that Bush is writing, it is going to include all his drinking exploits, now who would want to read about that. I hope he can do a good job of explaining to the parents of the dead servicemen and women why their loved ones died in his ill-begotten war. I wouldn't pay one red cent for anything that comes from his pen.