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The Most Disparaged Profession
Wolf Richter www.testosteronepit.com
Congress is the ideal American institution: it spends far more than it takes in and borrows the difference. We love that. To heck with the future. It means free money, services, wars, and other goodies. At least some of us get to profit from it. And then we blow it or invest it, and lose it or make money on it. It all adds up to that glorious GDP. It’s the American dream.
Lawmakers are so efficient at it that 36% of every dollar in the budget has to be borrowed.... Oh wait. They don’t do budgets anymore. They’re uncool. They do continuing resolutions. Given this bottomless largesse, mathematically speaking, it’s logical that Congress would have sky-high approval rating. Wait.... Oh no!
Only 11% of the people approve of the Herculean job lawmakers are doing, according to Gallup, which has a knack for peeking at our innermost feelings. It’s the lowest score since Gallup started tracking it in 1974.
How can that be? Didn't we just learn that it's a virtuous activity for lawmakers to give out privileged information on pending legislation? Profiting from opportunity is an American principle we cherish. So, a few hedge funds were given tradable information about compromises in the healthcare law just before the announcement on December 8, 2009. According to the Wall Street Journal:
They belong to a select group who pay for early, firsthand reports on Capitol Hill. Seeking advance word of government decisions is part of a growing, lucrative—and legal—practice in Washington that employs a network of brokers, lobbyists and political insiders.
Insider trading by lawmakers and staff is an honorable practice as well. It’s perfectly legal and part and partial of their wealth aggregation package, according to 60 Minutes. So how can it be that a record 86% of the people disapprove of the fine job Congress is doing?
And more importantly, who are the stalwarts who approve of the job Congress is doing? Gallup has the answer:
- 7% of independents. That’s good news; it’s above zero. Zero would have been embarrassing. And even with the survey’s margin of error of ±4%, it remains above zero
- 12% of Republicans
- 14% of Democrats (they’ve got some ‘splainin to do)
It all boils down to honesty and ethical standards, which lawmakers have to check at the door when they enter the profession. According to another Gallup poll, a record 64% of respondents rated lawmakers very low or low on honesty and ethical standards. That’s the worst score ever for lawmakers and matches the prior record awarded to lobbyists in 2008. Together, lawmakers and lobbyists are the “most disparaged professions” in the history of Gallup’s surveys. In the last poll, lobbyists were second, with 62%, followed by telemarketers with 53%, and by car salespeople with a practically stellar 47%.
It has been a vertiginous decline from the peak in 2001, when 25% rated Congress very low or low on honesty and ethical standards. Back then—coincidentally or not—budget deficits were under control, and gross national debt was “only” $5.7 trillion. Since then, with every additional trillion in debt, respect for Congress has been shrinking. The current gross national debt of $15.1 trillion will likely hit $16.4 trillion by next December, and if that trajectory continues for a few more years, approval ratings for Congress might actually hit zero ±4%. Which would be a blast.
The irony is that we the people hired them—and as long as our personal lawmakers bring home the bacon, we’ll vote for them again, though we scream and holler about the other scoundrels in Congress. And bringing home the bacon is what the congressional chef d’œuvre, the tax code, is all about—just when corporate tax dodging puts the finger on its Strenuously Hushed-Up Basic Flaw.
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Regular people can't run for office anymore, that is why the majority of these assholes in Congress can't (or don't) want to relate to the American people. Plus the campaign finance reform system is so lax and fucked. Basically, Congressmen and Senators should just wear patches of the corporations they schill for in legislation like soccer players' jerseys do on the pitch; it would be easier for us to decipher what they really represent (with the exception of 5% of Congressmen, who actually do have balls, morals, and ethics).
Look at the last Governor's election here in Massachusetts. We had a political war between a former CEO of Coca Cola (Deval Patrick) and a former CEO of a Helath Insurer, Harvard Pilgrim (Charlie Baker). Both are highly educated, have millions of dollars, and have made millions for other millionaires. You think they can relate/give two shits about what a construction worker from Southie, or a immigrant family of four trying to make ends meet and create opportunity, or a 20-something out of college who is 50K in CC/studen loan debt but can't find a job that pays 1/3 of that a year, while battling a 24% tax on his wage (never mind sales/excise taxes)?
Of COURSE not. In the end, all most of us are is one vote. To those with money, however, it is a political revenue stream that determines who wins and loses, as the candidiate who spends more money wins 94% of the elections.
America’s Retreat From Victory
This could easily be one of the best short books you could read to get a snapshot of how we got into the mess we're in today. If you're a veteran, you too, will be infuriated. Certainly on the reading list for older home-schoolers. [Link for online reading at end of post]
It may be old, but this is very well written.
It's funny that 11% approve of the job congress is doing - that is exactly half the population of people who suffer from mental illness in the USA. (22% of Americans suffer from mental illness - from a study on mental illness and homelessness 2003).
Yeah, but look at the bright side...half of our crazies aren't STUPID.
I didn't hire these guys. That is smoke and mirrors. They broke the contract long ago. Don't treat me like Gould and tell me that you are being honest when you rob me. Just be up front about it.
What is absolutely amazing is the acceleration of federal debt that has been accumulated of the past few years...This is the responsibility of BOTH Republicans/Democrats - Obama took office (After Bush/Cheney administration Sept 2008) National Debt = $10.6 trillion (On Balance Sheet) and now is $15 Trillion - interesting how the 'system' requires ever more $$$ to bribe support from their 1% constituencies - this is far greater than merely Congress/Senate/SCOTUS/POTUS; the unelected bureaucrats that reinforce the criminality need to be eliminated as well - GSEs & K Street Lobbyists would be a great start, however, this is naive-it will take a crisis of even greater proportion than the one that is currently occurring to drive change - I have not voted for an incumbent representative in the last three election cycles - I have lost faith in the system & as far as Washington DC is concerned after the passage of NDAA I think it is relatively easy to identify who the actual terrorists are...
The original intent of our founders was for a citizen government. Now, we have a professional government that has become a cabal of corruption and bribes that only serve the vested interests
There is not so much irony in us picking them since we are only given a few to choose from, and in many cases we are probably picking from just a few corrupt ones, with no honest ones to choose. I'm still hoping that in the very end this will end up with the people having more power and our representatives having less. We need to be able to recall them. We need to be able to veto their laws. I hope the people who have been against participatory democracy might start wising up now that things like indefinite detention without trial is on the table. Wouldn't it be nice to kill that with a referendum, and then recall those that voted for it?
I read a comment about the shutting down of a coal fired power plant.The gist of was that the wealthy didn't worry about brown outs. I had the thought that if my area has a brown out I'd be sure to share it.
Congress matter, YOU (The American) dont.
Only 11% of the people approve of the Herculean job lawmakers are doing, according to Gallup, which has a knack for peeking at our innermost feelings. It’s the lowest score since Gallup started tracking it in 1974.
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Made me laugh.
The answer is simple.
11pc are satisfied with the efficiency of Congress.
The rest thinks the congress should try and effect more. Disatisfaction.
Simple as that.
If the Congress manage to rise up its efficiency in bringing bacon home, then the approval will rise.
More wars, more loot, more theft. Congress know what the US People want from them.
When Congress (and associated) start wars, the US People line up near recruitment centers to take their share of the war loot.
Clear as clear.
No opposition between US citizen elite and its base, only continuity and a ill easeness the bond between the two is not tighter.
It's not a profession, it's a criminal pursuit.
"The Most Disparaged Profession"...and I thought the article was going to be about economists....
I wuz gonna say Hookers...
Hookers give a product without robbing you. Much better than Congress.
Re ...without robbing you
So robbing you of your virginity doesn't count?
Been there, done that, got the ----, hooker with a heart o' gold, though! LOL!
Robbed you? Forced you to give up the money for a little sumthin? Devil made you do it?
at least with hookers you have a clear expectation of getting fucked.
How many posts have I said, "this stops once people get angry enough and the shooting starts"?
This is NOT stopping until someone caps one of these assholz. We aren't quite there yet. It will take a few missing meals for the fat to fall off the body politic to change their complacency from Dancing with the stars, a gallon of soda, and cheezy poofs, to a slimmed down shevlt AR-15 with a massive level of angst.'
THEN, DC and Wall Street have a BIG problem. I think it really starts after Christmas 2011, when everyone sees their credit cards are maxed and the extended fees begin. And the UE is not better, and the foreclosures start, and....
you get the picture, bad things comin'.
Meanwhile, Yodeling Cat
http://www.youtube.com/watch?v=nAvLlPCbyQQ
Giffords (AZ) doesn't count?
NO! The Giffords shooting was a lone freak and he was not concerned in the least with the "State of the Country", and Rep. Giffords had no bearing on the matter at hand of somebody as insane as the freak that shot her.
You are talking about "random crazy", I am talking about an all out revolt and putting down people like Corzine, Hank Paulsen, Blankfiend, and their ilk, and those in bed with them. Writing is on the wall, and nothing will stop this, because "until leaving congress is a better condition for bad people than staying, they will stay".
Giffords was one of the "Good Guys".
If you can't discern the difference and are placing "moral equivilance" between what I am saying, and the Giffords shooting, they you don't gt the point, and are apparently incapable of making the distinction between malicious violence, and unwanted but necessary "action to protect".
Take Lee Malvo for instance, he just shot random people that never did a thing to him. How about if he selectively took out the peopl I listed.
Patriot or still crazy?
Those are the questions we now have to ponder.
« The USA had 40 years of stability and power. In the future it will be a shithole. So what? Just another new-world shithole. Life goes on. »
- ZeroHedge commentator 'Fat Ass', 17 January 2011
what's worse than unemployed in a shithole?
when you work your ass off AND still live in a shithole country because CEOs and politicians waste all of your money away.
Stupid Americans get exactly what they vote for and what they deserve. When the collapse finally comes it will be well deserved.
Personally, I refrain from using generalizations and instead try and qualify a statement. Not all Americans are stupid, many are critical thinking, Constitutionally minded and did not vote for the current POTUS. But one has to keep in mind that the alternative was another career politician that nobody trusted. (Think NDAA). With ACORN and other organizations, we were screwed any which way we voted and from all indications the machine is in place and will not be easily undone. imho
US in the same mould as the greek tragedy
Somebody should do something.
That would be us.
When you say "us" I assume you mean you, or someone else who is not me?
/sarc
or everyone should do nothing all at once.
as it turns out it is all about intention and
not the perceived outcome?
Just drop out of their game.
Go Galt!
Somebody please explain how or why somebody like Reid, or Pelosi gets re-elected?
The easiest thing in the world to sell is free stuff.
there is not 1 part of our govt. that has not been corrupted....please feel free to correct this statement if you can
to think our election system is on the up and up is nieve at best...
from corrupt re-districting to outright fraud..
the seeds have already been planted against ron paul, when he wins debates ,they are rigged...when he wins iowa it is because of hackers {politico}...and if ron paul does win...the electoral college will change that...
so to blame the american citizen for our "elected" officials is a stretch....propaganda is a hell of a drug..
One is from the Land of Fruits 'n Nuts - the other is from the Land of Hots 'n Slots. 'Nuf said? Thought so.
Somebody please explain how or why somebody like Reid, or Pelosi gets re-elected?
Sure: By bribing parasitic people with free stuff.
And/or, by bribing emotional parasites with painless "good deeds." (Paid for by others, of course.)
And/or, by providing cheap self-esteem to otherwise empty souls.
The majority of the house and senate are made up of lawyers, the most inefficient, insidious and predatory occupation in america.
mass extinction by shitty law
coming right up. not sure that
the shitty law is the product of
lawyers alone.
http://www.propublica.org/article/how-democrats-fooled-californias-redis...
"It all boils down to honesty and ethical standards, which lawmakers have to check at the door when they alsoenter the profession."
Wall Street too. Oh, and Lawyers also, so no coincidence that most of CONgress are lawyers.
Exactly. We are seeing the consequences of morality, and ethics being unhinged from absolutes.
A driver was stuck in a traffic jam on the beltway outside Washington D.C. Nothing was moving.
Suddenly a man knocks on the window. The driver rolls down the window and asks " What's going on?"
"Terrorists have kidnapped Congress, and they're asking for a $100 million dollar ransom.
Otherwise they are going to douse them all in gasoline and set them on fire and we are going from car to car collecting donations."
"How much is everyone giving on average?" the driver asks.
"Roughly a gallon"
That song is old