28 Members of Congress Are Worthless!

Did I get your attention? Good! Because what I am posting is quite important. I briefly heard last week a report on CNBC about the net worth of the members of congress. The headline for them was about the how many members were in the top 1%. Since I am not one to rely on my memory to give the accurate details, I found a USA Today article that reflects that story on CNBC. The title of the article is 57 members of Congress among wealthy 1%.

Now that statistic may be considered interesting, but I personally wasn't all that impressed. The one that really caught my attention blows a whole in the assumption that I made in my August 8, 2011 post entitled August 2011 Budget Bill: Where the US Government Went Wrong and reiterated again in my October 11, 2011 post entitled Again, Why Politicians Should Take a Pay Cut.

Apparently not all politicians are well off, but 5% of them are financially STUPID! Out of the 530 members of congress, 28 of them have a net worth of 0 or less. That's right! When you take the value of their assets and subtract their liabilities, the result is that they are not even treading water. Of these 28 members of congress, 4 are breaking even and the rest are drowning in debt. One is even over $4 million in the hole. That's right! $4 MILLION. And of all people, it is Democrat Alcee Hastings of Florida. But don't get too proud Republican readers. First runner up is Republican Stephen Fincher of Tennessee, with over $3 million.

To round out these statistics, let me mention that 12 of these fiscal idiots are Republicans and 16 are Democrats. I was actually surprised to see any Republicans this low in the list considering their mountain top cry for fiscal responsibility. Taking this into consideration, I don't see how anyone can side with one party or another about achieving fiscal responsibility. With only a marginal deviation, both sides of the aisle are equally inept about fiscal issues. And then today, the Super Committee "throws in the towel" in regards to coming up with a plan. Just sad.

My opinion, congresses first step should be to eliminate their own dead weight. Drop the bottom 28 members of congress and make it IMPOSSIBLE for a fiscally irresponsible person to even run for congress. They are a waist of tax payer money. Then they can take the pay cut I previously mentioned.

That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com