Congress approves salary raises. The last raise was from $200,000 to $400,000 for Bill Clinton effective 2001. For additional information : http://en.wikipedia.org/wiki/President_of_the_United_States#Salary
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THE PEOPLE ( ME YOU EVERYBODY TAXES IT DEPENDS HIS SALARY WANT ALWAYS BE THE SAME )
400 K
In 1700 there was no paid office anywhere in the world called "President."
There are corporate executives who get paid much more than the President of the US is paid, however, people do not seek the office of President because of the salary (even if they were concerned primarily with money, very lucrative book deals will follow, after they leave office, and well paid speaking engagements - former Presidents do very well). However, it's not really about the money. People seek to become President because they believe that they can use the power of that office to make America and the world better. Therefore yes, the President is paid enough.
Abraham Lincoln's presidential salary was $25,000 per year, which in 2010 dollars is equivalent to an average of about $470,000 per year, just a little more than the current President gets if you include the current President's expense account.
President Grover Cleveland