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Amid revelations about George W. Bush’s work on his memoir comes details about another president’s literary plans: Barack Obama has reportedly arranged with Crown Publishing Group for an abridged, youth-oriented version of his memoir “Dreams From My Father” and plans to write a nonfiction book after he leaves office.

The president is getting a $250,000 advance* plus a percentage of domestic book sales for the abridged version of “Dreams Of My Father,” according to the Associated Press. According to financial disclosure reports filed this week and first reported by Congressional Quarterly, he took in $2.5 million last year in royalties from his two bestselling books.

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Add Laura Bush to the list of those cashing in on Bush White House book deals. CBS News' Mark Knoller reports that the First Lady has signed a deal with Scribner Publishers for an autobiography set to hit shelves in 2010.

A statement from the Office of the First Lady says the book "will offer an intimate account of Mrs. Bush's life experiences, including eight years in the White House."

It advertises that, "the memoir will reveal the first lady's recollections of both the personal and historic moments that have defined her life."

Best selling author Curtis Sittenfield, recently received critical acclaim for his fictionalized account of Mrs. Bush's life in "American Wife," published by Random House.

Knoller reports that the worldwide English language publication will be handled by Simon & Schuster's international companies and an audio version is expected. Simon & Schuster is a subsidiary of CBS Corporation, this Web site's parent company.