Showing posts with label cola. Show all posts
Showing posts with label cola. Show all posts

Thursday, February 05, 2009

Limit Congressional Pay!

Pres. Obama recently announced he wants limits on executive pay, well, how about Congressional pay? Here's what I WISH he had said according to the article U.S. sets executive pay limits for bailout companies:

"What gets people upset, and rightfully so, is [Congressmen] being rewarded for failure. Especially when those rewards are subsidized by U.S. taxpayers," he said. ...

"For [members of Congress] to award themselves these kinds of compensation packages in the midst of this economic crisis is not only bad taste -- it's bad strategy -- and I will not tolerate it as president," he said.

Members of the House get an automatic pay raise every year through the passage of the Treasury bill UNLESS a majority votes to block the raise. As you can imagine, a direct vote on the pay raise rarely happens or passes.

There are few groups less deserving of pay raises than members of Congress. As I wish Obama had said, they are rewarding themselves for failure, in the midst of an economic crisis, with taxpayer money. Members got a pay raise of $4,700 at the beginning of the year, but it's not too late for them to vote to stop the pay increase for next year.