Regardless of how you feel about the domestic auto industry, its fat cat CEOs or the UAW, you probably feel it was reasonable for Congress to demand to see recovery plans before loaning them taxpayer money. And Congress seemed to feel it was quite appropriate for their CEOs to cut their pay to one dollar a year and for the autoworkers to take cuts in pay and benefits until the Big Three are viable again.
Yet Congress hands out trillions of dollars of taxpayer money like it was candy, especially to Wall Street, with absolutely no questions asked. What do they care? It’s your money, not their own.
Well, isn’t it time that we taxpayers held the federal government to the same standards as the automakers? Where is Congress’ recovery plan? What is their plan for returning the federal government to a budget surplus? And if it’s reasonable for CEOs to take a dollar in pay while their companies return to profitability, isn’t it reasonable to expect all of our elected federal officials, including Obama, Biden and every senator and congressman to do the same? And shouldn’t we expect that every federal worker take cuts in pay and benefits until the budget is repaired?
Some Congressmen suggest to the automakers that they simply go into bankruptcy and let the court straighten out their mess for them. Well, there is no entity on earth more worthy of bankruptcy than the United States. Why don’t we simply declare bankruptcy and escape our national debt? Now I’m being facetious, of course. Bankruptcy isn’t an option for the federal government.
But let’s not have a double standard. If it’s good business practice to demand recovery plans, dollar salaries and wage cuts for workers from the auto industry, then it’s also good practice for taxpayers to demand the same of Congress!
I’m encouraging all of you to write your senators and congressmen and demand that they produce a recovery plan for the federal government – a plan to put the federal budget back in the black – and that they be willing to accept one dollar per year in pay until the plan is accomplished, and that they cut the pay of every federal worker. (You’ll see a link on the right hand side of this blog that will make it easy to find out how to contact your elected officials.) Send a link to this post to all of your friends and encourage them to do the same. Feel free to reproduce this post on your own blogs. I think that if we all got behind this idea we could have a big impact on restoring some fiscal responsibility to the federal government. They clearly won’t do it on their own.