U.S. Senators Agree to Give Up $168,500 Salary During Financial Crisis

Unconfirmed sources are reporting that the U.S. Senate has voted unanimously to work for a $1 a year until the financial crisis is passed. The vote was taken yesterday during a rare lame duck session as the Senate worked to lesson the impending recession facing America.

“It’s the right thing to do.” Said Michigan Democratic Senator, Carl Levin. “The country needs our help. How can we ask business leaders to work for a $1 year when our lack of oversight allowed this crisis to happen in the first place? Giving up $168,500 a year for a few years is the least we can do.”

The move by the Senate to give up their pay is putting great pressure on the members of The House of Representatives to do the same. Michigan Representative John Dingell is leading the ‘Work for $1’ movement in the House. “It only make sense,” says Dingell. “I’ve worked for years to keep the auto industry from having to make more fuel efficient vehicles, so I think it’s time I gave a hand to help the country out of this mess I’ve helped make.”

The ‘Work for $1’ movement seems to spreading across the country as many presidents of banks and mortgage companies are volunteering to give up their salaries and stock options to help the country.

The money is being collected into a special fund that will be used to supplement unemployment pay and help fund a collection programs to help stem the flood of home foreclosures.