After Congress Finishes Investigating AIG . . .
Let’s have Congress investigate itself:
While Congress has been flaying companies for giving out bonuses while on the government dole, lawmakers have a longstanding tradition of rewarding their own employees with extra cash — also courtesy of taxpayers.
Capitol Hill bonuses in 2008 were among the highest in years, according to LegiStorm, an organization that tracks payroll data. The average House aide earned 17% more in the fourth quarter of the year, when the bonuses were paid, than in previous quarters, according to the data. That was the highest jump in the eight years LegiStorm has compiled payroll information.
Total end-of-year bonuses paid to congressional staffers are tiny compared with the $165 million recently showered on executives of American International Group Inc., which is being propped up by billions of dollars of U.S. government subsidies. But Capitol Hill bonuses provide a notable counterpoint to the populist rhetoric and sound bites emanating from Washington these past weeks.
Last year alone, more than 200 House lawmakers, both Republicans and Democrats, awarded bonuses totaling $9.1 million to more than 2,000 staff members, according to a Wall Street Journal analysis of office-disbursement forms. The money comes out of taxpayer-funded office budgets, and is surplus cash that would otherwise be forfeited if not spent.
I’m amused. The Congressional accounting books look even worse than those of AIG. And yet, bonuses get paid out by the same people who wax populist at the nearest sign of a television camera and a microphone?
Just when you think that no more jokes can be told or written about Congress . . .