The S&P Sucker Punch

Kenneth M. O’Brien

If ever there was a situation that called for widely publicized hearings by the U. S. Senate it is the action by Standard & Poor’s to downgrade the debt of the United States.

To assume that S&P is some kind of independent, wholly objective watchdog is absolutely naïve and foolish.

Months before as well as within days of the announcement of the action by S&P to downgrade the debt of the United States from AAA to AA+, conservative media outlets began putting forward arguments that the action was not politically motivated. Forbes Magazine and Fox News’ Huckabee program were in the forefront of such arguments.

Must See TV

Kenneth M. O’Brien

I’ve always been fond of a quote from Adlai Stevenson that goes, “Eggheads of the world unite, you have nothing to lose but your yokes.” (Extra credit for those who can explain the irony).

No doubt about it, I’ve always been a nerd, geek, wonk – take your pick.

But I like to think that I’ve always had an open mind.

While I’m known as one of, perhaps, three Liberals living in Southbridge, I’ve always welcomed informed points of view that varied from my own.

I remember that way back in high school one of my favorite TV programs was Firing Line, moderated by William F. Buckley, Jr.

It is a wonderful example of what is missing from conventional television programs that purport to provide serious political analysis.

Who Owns Your Government?

Free Market Economy in Government

Kenneth M. O’Brien

There are 435 members of the
U. S. House of Representatives.

There are 100 U.S. Senators.

The base salary of either member of Congress is $174,000 per year. There are stipends that depend on chairmanships and leadership positions.

But let’s deal with the base of the rank and file.

The average population of a Congressional district is about 647,000. That means that, on average each congressman is beholden to the taxpayers in their district for about 27 cents of their salary per year.

On the Senate side we have state populations that vary widely. In fact, Wyoming has two Senators like every other state, but only one congressman.

As a result, the tax contribution by the public to senatorial salaries ranges from about 35 cents per Senator in Wyoming to about ½ cent per Senator in California.

There’s an old saying that “He who pays the piper calls the tune.”