Congress to Stop Devaluation of Congressional Salaries
(Posted November 7, 2009, Washington, D.C., by Staff)
Finally some legislation that Democrats and Republicans can agree on. Last week new legislation passed unanimously in the house and the senate on new congressional payroll procedures. President Obama, Senators, and Representatives along with their chiefs of staff will now be paid in Euros.
A congressional aide close to the legislation, but requesting not to named as she was not authorized to speak on the legislation, have confirmed that the average 2007 exchange rate between the dollar and Euro was used in calculating Presidential and Congressional salaries in Euros. When asked why Congress needs to be paid in Euros and what message will this send to the FOREX markets, the congressional aide had this to say. “In order for the President and Congress to do their jobs, they need to know that they personally are going to be ok financially. The less they have to worry about the dollar devaluing, the easier it is for them to lead the American people. The more they are shielded from any impact their policies have on the value of the dollar, the quicker they can rescue America from the damage of the Clinton and Bush administrations. “A representative, who voted for the legislation, also asking not to be named, commented only, “We gotta get paid. So it was this, or stop printing money and devaluing the dollar.”
