Decrease the President's salary from $400,000 per year to $200,000 per year
In 2001, the President's annual compensation was raised from $200,000 to $400,000. However, President Obama does not need the pay increase, and it is unlikely that the next President will require the extra compensation.
President Obama and the First Lady earned $1,728,096 in 2010, $5,505,409 in 2009, and $2,656,902 in 2008. President Obama does not need the extra $200,000. Similarly, the United States has not had a non-millionaire President in the last several decades. Our future President will not need the extra pay.
If the President wants to reduce our deficit, he should be willing to sacrifice with the rest of America. It takes many drops to fill a bucket. Start now: Decrease that salary.