X-Prize Type Prize for Politicans

[lx43]

What do you guys think of a prize to politicians for balancing the budget, cutting spending, cutting regulation, or a combination of the three by a certain percent after they leave office?

There was a billionaire I read the other day in the WSJ that gives politicians a prize once they leave office for having low fraud in their administration. I was thinking this could be modified for here in the US where it pertains to the size of govt.

I'd like to see a Prize of $20 million for the first President that balances the budget by their 3rd year in office and an additional $20 million for cutting the size of govt by half. The prize would be give once they have left office. In additional to President I'd give prizes to leaders in House/Senate.

Any thoughts?

[Zippyjuan]

Have to be a lot bigger prize than that. Obama and Romney both raised over $100 million just last month. These donors want more spending for their pet causes (or bigger tax breaks).

If you want to balance that budget without hurting Social Security/ Medicare and not raise taxes, you can't (Ron said he would honor what people have already qualified for). The deficit is as big as the entire "discressionary spending" portion of the budget. Cut those programs and probably get voted out of office so they won't touch them. (House writes the spending bills and the Senate has to agree and the president gets to sign it if he wants but he doesn't write the bills- if there was a prize and Congress wanted to deny it to him, it would be easy to do).

The goal is admirable though.

[ghengis86]

Conversely, couldn't some rich billionaire offer millions to a politician for expanding government and enriching their cronies? Oh wait...

If they're motivated by money to do good works for the public, we're already screwed. Someone with more money will come along.

Good idea. Maybe needs a better incentive. Like, public tar and feathering if you screw your constituents. I bet saving your ass from the guillotine would make for a good incentive.

[lx43]

Have to be a lot bigger prize than that. Obama and Romney both raised over $100 million just last month. These donors want more spending for their pet causes (or bigger tax breaks).

If you want to balance that budget without hurting Social Security/ Medicare and not raise taxes, you can't (Ron said he would honor what people have already qualified for). The deficit is as big as the entire "discressionary spending" portion of the budget. Cut those programs and probably get voted out of office so they won't touch them. (House writes the spending bills and the Senate has to agree and the president gets to sign it if he wants but he doesn't write the bills- if there was a prize and Congress wanted to deny it to him, it would be easy to do).

The goal is admirable though.

The difference between raising money for a campaign and the prize would be the money from the prize will actually be theirs. I agree it would need to be higher for President.

[lx43]

Conversely, couldn't some rich billionaire offer millions to a politician for expanding government and enriching their cronies? Oh wait...

If they're motivated by money to do good works for the public, we're already screwed. Someone with more money will come along.

Good idea. Maybe needs a better incentive. Like, public tar and feathering if you screw your constituents. I bet saving your ass from the guillotine would make for a good incentive.

I get your point about offering an exact prize to grow govt, but so what, we haven't had prizes ever and govt has still grown out of control over the past 100+ years. At least with this they would have a strong financial incentive to shrink govt.

[fisharmor]

The difference between raising money for a campaign and the prize would be the money from the prize will actually be theirs. I agree it would need to be higher for President.

The difference is the difference between all the free hookers and coke and limos and penthouses they can shake a stick at for four years straight,
and a pile of money that they have to spend time defending from the state, the banks, the pigs, and everyone else who has the power to simply take it away.