A newly sworn in President Obama made a point about executive salaries back in 2009. He said:
Regardless of where a person stands on this issue, we must all question why such edicts apply only to the private sector. Obama's sentiments are just as applicable to our elected officials, none of whom have seen a decrease in compensation during America's economic crisis despite their obvious culpability for our exponentially increasing debt and deficit. Why aren't members of Congress conributing towards their own healthcare and pensions? Why haven't they taken a salary cut, reduced staff, found ways to reduce expenses across the board? Why hasn't his administration reduced expenses for staffing, travel and other non-essential perks?
"We don't disparage wealth . . . But what gets people upset -- and rightfully so -- are executives being rewarded for failure."Unveiling a plan to cap executive compensation for companies receiving federal bailouts, Obama had some choice words regarding banking execs who received lavish bonuses from institutions receiving billions of our tax dollars:
"(Such behavior) is exactly the kind of disregard for the costs and consequences of their actions that brought about this crisis: a culture of narrow self-interest and short-term gain at the expense of everything else,"
Regardless of where a person stands on this issue, we must all question why such edicts apply only to the private sector. Obama's sentiments are just as applicable to our elected officials, none of whom have seen a decrease in compensation during America's economic crisis despite their obvious culpability for our exponentially increasing debt and deficit. Why aren't members of Congress conributing towards their own healthcare and pensions? Why haven't they taken a salary cut, reduced staff, found ways to reduce expenses across the board? Why hasn't his administration reduced expenses for staffing, travel and other non-essential perks?