Federal deficits are destroying our country. In 2008 the national debt was $10 trillion. It is now over $16 trillion. The federal reserve is monetizing the deficits by printing $85 billion a month, over $1 trillion a year. In 2008 the money supply was $800 billion. Today it is over $3 trillion. Senior citizens are being robbed of their retirement savings, working families of the value of their paychecks and our children of their futures.
Senators and Representatives should be held responsible for these massive deficits. Their salaries are currently $174,000. This petition proposes to reduce their salaries of by the percentage of the annual deficit over revenue. In 2012 the deficit was $1.1 trillion, revenue was $2.4 trillion, or 46%. This year salaries would be reduced by 46%, or $80,000.
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