,,,once you are "The President" you maintain the title of President for the remainder of life. They also get their salary and secret service for life as well. It's a hell of a job. Work for years and your set,lol.
According to the U.S. Geological Survey Correspondence Handbook, when you address a letter to a former president, it is still correct to use the title President. For example, after the inauguration in January, you would still begin a letter to George W. Bush with the salutation Dear President Bush.
If, however, you are writing a news story about a former president, it is appropriate to use the word former. For example, current news stories refer to former President Clinton and former President George H.W. Bush.
~Awe, that makes sense. Awesome job on looking that up. My info came from when I was Air Force. I guess they also get the same respect and consideration from the military after they are out of office. Except the whole,"comander and Cheif" biz. You still have to salute them, address them as President and such. But yeah, i can see how it is confusing. Hey do Senators keep the title after leaving office? Hmmmm,,, totally off the main subject of your thread, sorry.
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source: http://www.amazon.com/gp/blog/post/PLNK
handbook: http://www.usgs.gov/usgs-manual/handboo
So apparently it's a middle ground sort of deal, heh. Mystery solved! :D