McConnell/Reid "back room plan"

[AZRedhawk44]

http://money.cnn.com/2011/07/20/news/economy/debt_ceiling_deal/index.htm?cnn=yes&hpt=hp_t1

Sens. Mitch McConnell and Harry Reid have crafted an emergency measure in case negotiations fail. The plan sets up a mechanism only Congress would dream up.

The measure would allow for three short-term increases of the debt ceiling while at the same time letting lawmakers register their disapproval. The first increase would boost the debt limit by $700 billion and the next two by $900 billion each.

http://articles.cnn.com/2011-07-18/politics/debt.limit.fallback.plan_1_debt-ceiling-debt-limit-spending-cuts?_s=PM:POLITICS&iid=EL

As described by McConnell at a news conference last week, his legislation would authorize the president to request of Congress debt ceiling increases in three increments between now and the end of next year. The first would boost the debt limit by $700 billion and the next two by $900 billion each.

Along with each request, the president would be required to submit a list of recommended spending cuts -- in an amount higher than the ceiling increase request -- but those cuts would not need to be enacted for the debt limit to go up.

So, "emergency" increases in the debt ceiling with Obama giving nothing up, in exchange for 2.5 trillion dollars.


McConnell is a rat.

And an unconstitutional one, at that... the Senate isn't authorized to originate any spending bills.

[wmenorr67]

I have an idea.  Let us not pay Congress, the President or the Vice President for a the total of one each of their terms, to include all pay and allowances.  How much would that save us?

[AZRedhawk44]

I have an idea.  Let us not pay Congress, the President or the Vice President for a the total of one each of their terms, to include all pay and allowances.  How much would that save us?

Equivalent to taking a nickel out of my annual paycheck, when scaled against the annual deficit, let alone the debt.

[kgbsquirrel]

I have an idea.  Let us not pay Congress, the President or the Vice President for a the total of one each of their terms, to include all pay and allowances.  How much would that save us?

*pulls out the calculator* Just the base pay for Representatives, Senators and the President?   Around $110 Million, not counting special pay increases for being a particular "leader" or other special position in the Senate or House.

Edit: Also not counting per diem for food, travel allowances, staff, et cetera ad nauseam.

[MechAg94]

*pulls out the calculator* Just the base pay for Representatives, Senators and the President?   Around $110 Million, not counting special pay increases for being a particular "leader" or other special position in the Senate or House.

Yeah, but it would be nice if they lost all pay and special privileges if there was a budget deficit in the prior year.

[Scout26]

You mean to create an incentive system like in the private sector, where if  you make budget you get a bonus and the better you manage your budget, then the higher the bonus.... Nahhhhhh

I remember when I worked for Pepsico.  They were straight up about it.  We pay you 85% of your expected salary.  If you meet you budget you'll get the other 15%, however the better you do the more money in your pocket, up to 150% of you expected salary.   Oh and if you can't make budget you better have a damn good reason, fail to make budget twice without said damn good reason, there's the door, don't let it catch you in the backside on the way out... 

[kgbsquirrel]

A thought: just how many congresscritters would a salary-hold really effect? I'm sure it's not always the case, but it seems like a good portion of our ruling elite have, how to say, rather deep pockets.

[Jamisjockey]

A thought: just how many congresscritters would a salary-hold really effect? I'm sure it's not always the case, but it seems like a good portion of our ruling elite have, how to say, rather deep pockets.

Congress?  A large portion, especially the freshmen who haven't had a chance to grease the wheels and make a buck.  Remember the ones who were sleeping in thier offices to save money? 
Senate? Not as many.  Seems to be harder to be an average scmho and become a senator.  Usually requires means and deep pockets.

[MechAg94]

Congress?  A large portion, especially the freshmen who haven't had a chance to grease the wheels and make a buck.  Remember the ones who were sleeping in thier offices to save money? 
Senate? Not as many.  Seems to be harder to be an average scmho and become a senator.  Usually requires means and deep pockets.

Perhaps simply say that their net worth is frozen when they go into office.  Any increase in net worth above their pay + inflation + current FED interest rate is forfeit.  No more Congressmen getting rich while in office. 

Of course, I'm not sure how you handle spouses who work and make a ton of money (likely as lobbyists).

[makattak]

Perhaps simply say that their net worth is frozen when they go into office.  Any increase in net worth above their pay + inflation + current FED interest rate is forfeit.  No more Congressmen getting rich while in office. 

Of course, I'm not sure how you handle spouses who work and make a ton of money (likely as lobbyists).

No. What we need is to apply Insider Trading laws on Congress/government employees.

Then I won't care if they increase their net worth while employed by the Federal Government. (Unless it's through bribery.)