With the economy in shambles, Congress geta a big pay raise.

Discussion in 'Credit Talk' started by cap1sucks, Dec 20, 2008.

  1. cap1sucks

    cap1sucks Well-Known Member

    A crumbling economy, more than 2 million constituents who have lost their jobs this year, and congressional demands of CEOs to work for free did not convince lawmakers to freeze their own pay.

    Instead, they will get a $4,700 pay increase, amounting to an additional $2.5 million that taxpayers will spend on congressional salaries, and watchdog groups are not happy about it.

    â??As lawmakers make a big show of forcing auto executives to accept just $1 a year in salary, they are quietly raiding the vault for their own personal gain,â? said Daniel Oâ??Connell, chairman of The Senior Citizens League (TSCL), a non-partisan group. â??This money would be much better spent helping the millions of seniors who are living below the poverty line and struggling to keep their heat on this winter.â?

    However, at 2.8 percent, the automatic raise that lawmakers receive is only half as large as the 2009 cost of living adjustment of Social Security recipients.

    Still, Steve Ellis, vice president of the budget watchdog Taxpayers for Common Sense, said Congress should have taken the rare step of freezing its pay, as lawmakers did in 2000.

    â??Look at the way the economy is and how most people arenâ??t counting on a holiday bonus or a pay raise â?? theyâ??re just happy to have gainful employment,â? said Ellis. â??But you have the lawmakers who are set up and ready to get their next installment of a pay raise and go happily along their way.â?

    Member raises are often characterized as examples of wasteful spending, especially when many constituents and businesses in membersâ?? districts are in financial despair.

    Rep. Harry Mitchell, a first-term Democrat from Arizona, sponsored legislation earlier this year that would have prevented the automatic pay adjustments from kicking in for members next year. But the bill, which attracted 34 cosponsors, failed to make it out of committee.

    â??They donâ??t even go through the front door. They have it set up so that itâ??s wired so that you actually have to undo the pay raise rather than vote for a pay raise,â? Ellis said.

    Read the full story here
  2. apexcrsrv

    apexcrsrv Well-Known Member

    Unfortunately, not surprising . . .

Share This Page