Random thoughts on COLA...

[makattak]

This year, Congress (and the rest of the government) got their annual COLA pay raise.

Now, correct me if I'm wrong, but a COLA should be based on the.... cost of living?

So, when the costs of living go down (say, in a recession), shouldn't all these government workers who get COLA's have their wages go down?

<Disclaimer>: I am aware that such things will never happen. I was merely struck by the thought.

[Manedwolf]

I think merit-based pay would be better. Congress has done absolutely nothing, and so should get nothing. Or a pay cut.

[sumpnz]

I think merit-based pay would be better. Congress has done absolutely nothing, and so should get nothing. Or a pay cut.

See, and I think a Congress that actually does nothing is the most valuable.  I say that a Congress that does nothing should get a bonus.  For every bill that's introduced they loose 1% of their pay.  If more than 100 bills are introduced they can go negative and have to pay the country back.  Bills repealing prior laws or cutting tax rates don't count toward that.

[seeker_two]

I'd like to see it go back to the old days when the home state of the rep/senator was responsible for their pay....I'm sure many of them would receive nothing but reality checks....

[Gewehr98]

Got my 5.8% COLA this month.

If I understand correctly, COLA appropriations are planned well ahead of time, so this year's COLA may have been in the works since before 2008's market downturn. 

[makattak]

Got my 5.8% COLA this month.

If I understand correctly, COLA appropriations are planned well ahead of time, so this year's COLA may have been in the works since before 2008's market downturn. 

I'm fine with them being done in advance- just so long as there is also a DECREASE for bad years.

Wow, that might actually be beneficial during recessions as all government workers would now have an incentive to save as they could expect a pay cut the next year...

(Again, I'm aware this will never happen)

[MicroBalrog]

I'd like to see it go back to the old days when the home state of the rep/senator was responsible for their pay....I'm sure many of them would receive nothing but reality checks....

One word: earmarks.

[FTA84]

Does it really even matter to these people?  That is, if they got paid nothing, how many of them would not be able to afford to live. How many have investments/businesses that make their congressional pay resemeble the sounds of pennies chinking in a tin bucket?  It seems to almost be a requirement that one be independently wealthy in order to run for congress.  How else can you pay for such campaigns?