On September 24, 1789, Congress established an annual salary for the President of the United States of $25,000.  President Washington initially refused to accept any compensation but Congress, fearful of establishing a bad precedent, convinced him otherwise.  In 2007 dollars, George WashingtonÕs $25,000 salary would exceed $560,000 today.

Presidential salaries have risen dramatically since 1789, as have both the standard and cost of living.  In 1873, the Chief Executive's pay was raised to $50,000; in 1909, to $75,000; in 1949, to $100,000; and in 1969, to $200,000.  That salary held until 2001, when a 1999 Congressionally-mandated pay raise went into effect, bringing the President's salary to $400,000 per year.