Yeah, that gift while arguable from the American People, was paid for by President Obama.
I'm glad the Queen liked the Broach the Obama's got her from a small shop here in D.C., better than the ipod filled with President Obama's speeches gifted to her by the first family on the occasion of her 90th birthday in 2016. Before you turn your nose up at that, don't forget Gordon Brown the then British PM got a 25 set gift pack of Movie Theme CD's from the Obama's in 2009, which I believe I saw at Costco around the same time. And that's the Gifts given to the leaders of Britain arguable America's strongest most reliable ally!!!
Six US Presidents who were were Deep in Debt
President's do get a 50,000 expense allowance as well as a 100,000 travel allowance over and above their 400,000 salary. They also live rent free at the Whitehouse, travel free on Air force One, and Pay no costs for their own security..
Seriously though, Presidential Gifts and entertaining, come out of the President's own pocket. (State dinners can be paid for with Federal Funds, or sometimes private funds like the President's political party.) The President receives an itemized list of every meal served at the whitehouse eaten by himself, his family, or his visitors. It's one reason many American Presidents leave office in debt(except really wealthy presidents like Kennedy, maybe Trump, President Obama made money in the whitehouse on book deals). U.S. Presidential gifts are thus generally inexpensive compared to some of the gifts the President receives. The Obama's were not the exception to the rule, they basically were following the rules. Before you feel sorry for American Presidents, the debt for modern Presidents as you can imagine is temporary. As Former Presidents do extremely well financially with speaking and book fees. Sitting on the board of directors of large companies. Also they can draw salaries from libraries and charity foundations they work with not to mention the permanent salary and expense account they receive for the rest of their lives from the American People.
It's an odd sort of duality all gifts accepted by an American President are accepted on behalf of the American People. Any gift with a worth greater than $50 per event or $390 annually must be declared, and eventually turned over to the Government or in some cases may be paid for and kept. (Amy Carter's gifted baby elephant ended up in the zoo). But when the President gives gifts or entertains personally at the Whitehouse, that's all on his dime.
This is especially odd because if you wanted to give an American Politician 100 million dollars cash anonymously, that would be perfectly legal with a few accounting indirections, as long as you ran it through his parties political action groups.
Remember Hillary Clinton's claim about being broke when leaving he White house. Politifacts calls that claim false, not because they didn't owe more than their assets, but only because of the huge expected income awarded to former Presidents.
Hillary Clinton Says She and Bill were "Dead Broke" on leaving the Whitehouse
"Almost any president leaving office can expect tens if not hundreds of millions of dollars of future earnings as a result of their having been president," Hoopes said. "Speaking, consulting, board positions, and so on, are all very lucrative."
White House Living is not a Total Free Ride
Former first lady Laura Bush wrote in her post-White House memoir that she was expected to pick up the tab for every meal she ate at the White House or the presidential Camp David retreat -- for her husband's two terms.
"The presidential room, as it were, is covered, but not the board," she wrote in her book, "Spoken from the Heart."
While first families aren't responsible for utility bills or a mortgage, "it is more than fair that they pay for personal items like every American household."
Short Story dealing with President's poor salaries
In 1930 the country was mired down in the Great Depression and Babe Ruth signed an $80,000 annual contract with the Yankees. At the time the sports reporters noted that President Hoover was only making $75,000. Babe Ruth responded, Yeah but I had a better year than Hoover did.