This legislation provides significant reductions in pay for Members of Congress each year that the congress approves expenditures that exceed federal revenues. In other words, it places the pain of of deficit spending right where it belongs--in the Members' of Congress own wallets.
The American people demand that Congress stop the run away federal spending that has resulted in a federal debt of $8.7 trillion. Until Members of Congress place the responsibility for unconscionable deficit spending on themselves and suffer the pain that this spending inflicts on their own pocketbooks, the likelihood of seeing any real fiscal discipline in Washington appears to be nil.
Sounds like a good idea to me.
how does this comport with the 27th amendment?
ReplyDeleteMy guess would be that it wouldn't take affect until 2008. Not that it has any chance of being passed anyway.
ReplyDeleteUntil 2009, I would imagine.
ReplyDeleteThe thing is, I would read the amendment to hold that the individual downgrades (as responses to the deficit) couldn't take effect until an intervening election. I'd also argue that the automatic adjustment rules currently in effect shouldn't be allowed; i think they are an end run around the intent of the amendment.
I think you're right, but I also think this is just more political hyperbole designed to draw attention to the deficit. I don't seriously expect it to get anywhere and lawmakers wouldn't reduce or freeze their pay regardless.
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