Comments on: Growing The Government

By: Henry

Henry — Mon, 08 Feb 2010 20:33:49 +0000

Congress gets a raise every year, automatically.

http://www.gainesville.com/article/20090101/news/901010995

Congress votes ONLY when they DO NOT want to receive a raise. They continue to automatically receive their “COLA entitlement” without deference to the 1992 enacted 27th Amendment, deferring priority to the 1989 “Ethics Reform Act” of which bestows their automatic annual COLA hike.

By: BMB

BMB — Mon, 08 Feb 2010 20:08:16 +0000

Since when does our Congress know, or care, about the Constitution?

When was their last raise?

By: Henry

Henry — Mon, 08 Feb 2010 20:06:43 +0000

The story of the Constitution’s 27th amendment is very peculiar with regard to the “automatic” COLA pay raise Congress is wanting to allow itself for FY2011.

AMENDMENT XXVII
Originally proposed Sept. 25, 1789. Ratified May 7, 1992. (http://www.archives.gov/exhibits/charters/constitution_amendments_11-27.html)

“No law, varying the compensation for the services of the Senators and Representatives, shall take effect, until an election of Representatives shall have intervened.”

FY2011 and the corresponding Congressional pay raise to be given would apparantly start (Oct. 1 2010) BEFORE the election of Representatives (Novemeber 2, 2010).

Automatic COLA adjustments mightier than the Constitution’s XXVII Amendment’s supreme power?

By: BMB

BMB — Mon, 08 Feb 2010 18:11:38 +0000

They can ‘lay out a plan’ all they want — they’re not going to do it until the market forces them to. With the 3-month rate still down at 0.09%, the Fed is in no hurry. It’s all talk.

By: Randal

Randal — Mon, 08 Feb 2010 17:08:46 +0000

Let the interest rate hikes begin…
http://www.marketwatch.com/story/fed-to-lay-out-interest-rate-hike-plan-this-week-2010-02-08