by Dan Gibson
Yesterday, I grumbled about members of Congress and their ability to make investment decisions based on insider information, and it turns out that presidential candidate Rick Perry shares my anger! That's something I wouldn't have expected, although his new go-for-broke plan to win the Republican nomination, which includes a plan to term limit Supreme Court justices, isn't something we see eye to eye on, to say the least:
Perry is proposing halving Congressional salary and turning members into part-time ‘Citizen Legislators’ who hold jobs outside of government. His plan would essentially model Congress on Texas’ state legislature, which meets every other year and relies on legislators who receive little compensation ($7,200 a year) and are expected to support themselves with with separate careers.
In addition to his proposed changes to Congress, Perry would also institute 18-year term limits on the Supreme Court and end lifetime appointments of other federal judges. While Congress could vote to reduce their pay, changes to the Supreme Court would require amending the Constitution.
“Too many federal judges rule with impunity from the bench, and those who legislate from the bench should not be entitled to lifetime abuse of their judicial authority,” Perry said.