Auto Execs Should Only Take $1 Salary?

Watching a bit of the grilling of the “Big Three” auto executives on tv could have been amusing if was not so darn annoying! The audacity of lawmakers in Washington demanding that the automaker executives give up their salary because they have screwed up their companies while at the same time the “grillors” (made up that word) are going to get an automatic increase in pay. The “grillors” company (the United States) is not doing so well right now…under their watch…should lawmakers give up their salaries for being a part of screwing up the economy?

(Plus the “grillors” made a big deal out of the auto execs flying in private jets…what about “Princess” Pelosi…has she given up her private jet?)

According to an article, written by Jordy Yager, found at thehill.com lawmakers will enjoy a 2.8% increase in pay which will cost the taxpayers an additional 2.5 million in salaries. After tossing around a few billion here, a trillion there, I guess a lousy 2.5 million does not mean much. But if you add up enough 2.5 millions here and there you will eventually get to a billion.

According to Yager’s article in thehill.com lawmakers actually make less than they did in 1965. “In the beginning days of 1789, Congress was paid only $6 a day, which would be about $75 daily by modern standards. But by 1965 members were receiving $30,000 a year, which is the modern equivalent of about $195,000. Currently the average lawmaker makes $169,300 a year, with leadership making slightly more. House Speaker Nancy Pelosi (D-Calif.) makes $217,400, while the minority and majority leaders in the House and Senate make $188,100.”

http://thehill.com/leading-the-news/with-economy-in-shambles-congress-gets-a-raise-2008-12-17.html

The pay hike is automatic but Members of Congress can vote to block the pay increase. This occurred during Republic majority Congress in 1994-1997 and 1999. Let’s see if the Dems vote to block the pay increase.