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House Republicans proposed a bill today that would cut the pay of Vice President Joe Biden and other federal officials, noting that the executive order that President Obama signed to raise their pay costs $11 billion in new spending. “The President has once again demonstrated his penchant for unrestrained spending by giving federal employees an across the board pay hike and sticking the rest of us with the $11 billion bill,” Rep. Ron [...] Compensation for chief executives at American companies grew 15 percent in 2011 after a 28 percent rise in 2010, part of a larger trend that has seen CEO pay skyrocket over the last three decades. Workers, on the other hand, have been left behind. Since 1978, CEO pay at American firms has risen 725 percent, more than 127 times faster than worker payover the same time period, according to new data from the Economic [...] |
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