Obama - The beginning

[sugarpop]

I still say money you actually work for should be taxed a lot less than money earned from investments.

[TGRR]

Originally Posted by sugarpop

I still say money you actually work for should be taxed a lot less than money earned from investments.

I say it isn't going to matter. Both sides are spending so fast, you can just save $100 for use as bumwad.

[classicman]

Congress wants to spend on itself in new bill

(CNN) -- Yet again, we find ourselves asking when Congress is going to get the hint when it comes to squandering our tax money at a time when we have so little of it. You've already heard us talk about the more than 8,000 earmarks, aka pork, clinging to the emergency spending bill that could soon head to President Obama's desk.

That same bill, which was designed to keep the federal government functioning through September, contains a nearly 11 percent increase in congressional spending on Congress, itself. That translates to a nearly half-billion dollar jump over last year. And where's the money going?
Well, among the highlights, 9.5 million of these urgently-needed dollars will be used toward refurbishing committee rooms in the House of Representatives. There's also cost-of-living pay raises for congressional staffers and expense accounts up to $40,000 for some lawmakers. Once again they forget that sometimes symbolism does equal substance.

In a year when millions of Americans are forced to tighten their own budgets, a year where the new President froze pay for some of his senior staff the day after he took office, why would Congress think the best way to improve its image is to blow money on renovating committee rooms?
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How about improving your look where it really counts? Try some belt-tightening of your own for a change! If nothing else, you'll have something in common with the people you were elected to serve.

Maybe Obama gets it, maybe not. But its crystal clear to me that congress is on autopilot and its just business as usual for them. There is no crisis, no catastrophe. Its just another day in paradise, livin the high life and spending other peoples money.

[TheMercenary]

Yea, remember about that pass through for their pork, this is one of them.

[TGRR]

Originally Posted by TheMercenary

Yea, remember about that pass through for their pork, this is one of them.

40% or so of the pork is for the GOP.

You seem like a smart guy, Merc...so why do you run around believing half of the lies?

[TheMercenary]

Originally Posted by TGRR

40% or so of the pork is for the GOP.

What does that change?

[tw]

Originally Posted by classicman

But its crystal clear to me that congress is on autopilot and its just business as usual for them. There is no crisis, no catastrophe.

I believe it shook them out of their boots when Bernanke and Paulsen said do nothing and the entire economy will collapse. Congress' problem has more to do with direction. They could respond quickly to the crisis but could not agree on a direction. Very little history exists for how to fix an economy like this. Almost all facts come from overseas meaning most Americans (and Congressmen) do not appreciate the value of those lessons. Even the definition of 'systemic risk' is arbitrary - maybe nothing more than wild speculation. Can anyone really say AIG in bankruptcy would destroy the economy? Congress has no direction because no one really *knows* what (at their level) works.

Worse is an apparent lack of appreciation for a major problem. Accounting (the spread sheets) are still to often a pack of lies. There appears to be no interest in restoring domestic accounting standards to something that more resembles honesty. No, that would not fix the economy. But the elimination of Enron accounting is essential for our log term economic stability. That one objective should be obvious. As of yet, no sign that Congress wants to touch it.

[classicman]

Why would they? The way they are now is making ALL OF THEM rich as shit? There is no incentive for them to actually do what they were elected to do. Well there is sorta, but its not enough to beat the legal scam they got going now.

[TGRR]

Originally Posted by TheMercenary

What does that change?

Nothing. You missed the second half of my post, apparently.

I don't think you saw it. I don't think you CAN see it.

Originally Posted by classicman

Why would they? The way they are now is making ALL OF THEM rich as shit? There is no incentive for them to actually do what they were elected to do. Well there is sorta, but its not enough to beat the legal scam they got going now.

What is making ALL members of Congress rich as shit?

Pleas explain "the scam they got going now."

Hell, I have a greater net worth than many members of Congress and I'm no millionaire.

[sugarpop]

well, there are plenty of rich people in Congress, but most of them had money before they were elected.

[classicman]

scam = extremely sweet deal. ie retirement after serving only one term. Pay grade that puts them in the top, what, 2 percentile. Lobbyists (like you - just kidding!)at their virtual beck and call. Those long hours. Automatic pay raises.

Between 2004 and 2006, members of Congress’ net worth increased an average of 84% – book advances, speaking engagements, stock and land deals, privileged mortgages, etc.

Perks that most people couldn't even dream of.

Originally Posted by classicman

scam = extremely sweet deal. ie retirement after serving only one term. Pay grade that puts them in the top, what, 2 percentile. Lobbyists (like you - just kidding!)at their virtual beck and call. Those long hours. Automatic pay raises.



Perks that most people couldn't even dream of.

In fact, members of the House become DO NOT become vested in the retirement system after one term. I think its five years or three terms. Thats not so different from many private employee retirement plans.

The so called "scam" with speaking engagements, lland/stock deals, etc was addressed in the Democrats ethics reform in 07...and very few members of Congress get book deals.

Yes, they make a good salary....so what? Many also support two homes...one in their district and one in DC.

That doesnt equal "rich as shit" (unless you have a very low standard for shit)

[classicman]

What is their average net worth?

Median net worth of members of Congress is about $500-$600k

Many have negative net worth......the bottom 25:
http://www.opensecrets.org/pfds/over...ilter=C&sort=A