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December 31st, 2012 4:44 pm
Singer: How to Avoid the Next Fiscal Cliff
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Want to avoid future “fiscal cliffs”?  Eric Singer, portfolio manager of the Congressional Effect Fund, argues for three reforms.  First, adopt Economist Thomas Sowell’s idea to pay Members of Congress at least $1 million a year, but make the pay subject to all the rules and tax rates experienced by every other taxpayer.  Second, pass Warren Buffett’s proposed constitutional amendment to ban from reelection any current member who presides over a budget deficit.  Third, require members to forfeit any pay increases when there is a budget deficit.  According to Singer, the result would be timely, serious budgets.

Why this approach?

The celebrity life with its fame and wealth requires constant performance, and full engagement in the task at hand. Even the Yankees benched Alex Rodriguez when he stopped doing his job. When lawmakers hide inside the fog of politics and can’t produce serious budgets, keep us safe or meaningfully prevent us from going over the cliff, it’s time to bench them.

After all, it’s not just a game, it’s our country and its future. Let’s see which new players are interested once we align Congress’ interests with those of America.

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