I propose that President Obama support a Constitutional Amendment that would define the salaries of elected officials as an appropriate percentage of the median income their respective governmental body's constituency.
For example, in 2011 the median income of the US was $50,502 and since 2009 the salary for most Senators, Representatives, Delegates, and the Resident Commissioner from Puerto Rico has been $174,000. If this amendment set salaries of members of Congress at 300% of their constituents' median income, it would be $151,506.
This would provide elected officials a direct personal financial incentive to pass laws and make policies that benefit all their constituents.