I read this news item today: Prodded by national anger at Wall Street, the Senate on Thursday passed the most far-reaching restraints on big banks since the Great Depression. In its broad sweep, the massive bill would touch Wall Street CEOs and first-time homebuyers, high-flying traders and small town lenders.
This is a good first step toward easing the tensions so many people are feeling due to the financial crisis that just doesn’t seem to be going away as quickly as hoped. It’s sort of like that oil spill in the gulf. Things have been done to try to stem the flood of oil pouring into the water, but all efforts have had little effect.
Passing more legislation to control businesses and establishing more government agencies to enforce the new legislation is like BP’s goofy idea to shoot golf balls into the broken pipe in hopes of stopping it up.
When are the people who have the power in Washington going to wake up and realize that it would benefit the economy if they CUT THE COST OF GOVERNMENT?
Excuse the shout, but I just had to get that out there.
Imagine the savings if there was a 10% pay cut for government employees who make over $100,000 a year.
And what about cutting the massive retirement packages that congressmen and senators receive?
Instead of trimming the fat at the top, the government looks at cutting social security, Medicare, and other services that so many Americans rely on for basic necessities. Kind of an upside-down approach I’m thinking.
If government operated the way the businesses in my small town operate, there would be a significant reduction in the national debt. Revenue in these small businesses goes into keeping the business running: Buying merchandise, paying for the basics of overhead, serving the customers. If there is anything left over, the owner may get a salary and perhaps put something into savings for retirement.
So, what about it. Do you think this would work for government?