Seeing how our politicians can make triple figure incomes every year, and after they leave office, I don't see the need to waste out tax money on them. The area of the U.S. I live, the average employee has to live on less then 40k per year. If a normal person can live on this, our 'leaders' can live on less. That is the purpose to 'lead' you set examples.
Currently no examples are being set in Washington D.C. This needs to change. The money saved from the pay cuts can be used towards people who get out and try daily for jobs, for someone who wants to start a business, create jobs, give others a chance, those who help others, and so on. The government and private lenders may offer 'loans'. However this are loans, which require interested when our leaders have it to fork out.