Congressmen (and Congresswomen) do not really get paid an awful lot for the job that they do. However, it seems to be an incredible coincidence that as the American public has seen their wealth decrease over the past three years, many of our Congressmen have seen their wealth increase greatly.
Today's New York Daily News reported that former Speaker of the House Nancy Pelosi has increased her wealth 62% last year. She is now worth $35.2 million, according to financial disclosure forms released Wednesday.
This is not a partisan thing. The article also reported:
"The California Democrat's gavel-gripping successor, Republican John Boehner, also saw his wealth get a boost, with the Ohio GOPer's net worth increasing from $1.8 million in 2009 to $2.1 million last year."
The increase in Ms. Pelosi's wealth is due to recent stock gains and smart investments. The increase in Speaker Boehner's wealth is due to his portfolio of stocks in oil companies, financial firms, communication companies and pharmaceuticals.
The article also lists other Congressmen who have increased their wealth as the wealth of Americans has decreased. Although there may be no unethical behavior involved in these statistics, it does seem weird that some in Congress get richer as Americans get poorer. I wonder if we could base the Congressional pay scale on the increase or decrease in the wealth of the American people.
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