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Terms
The president makes $400,000 each year.

The median household income in the United States in 2011 was $50,054
Presidents now can only serve up to two four year terms.

It wasn't always this way...

President Franklin D. Roosevelt (to the right) served three full terms, he was elected to four but he died three months into his fourth term.
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The 22nd amendment was passed in 1947 by the Congress and ratified in 1951.
Pay
The 22nd Amendment in the National Archives (below)
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