ECONOMIC CRISIS CONTRACT FOR CONGRESSIONAL CANDIDATES IN ORDER TO HAVE YOU VOTE TO ELECT ME TO THE CONGRESSIONAL OFFICE FOR WHICH I AM A CANDIDATE NOW CAMPAIGNING, I VOLUNTARILY MAKE THE FOLLOWING CONTRACTUAL COMMITMENT TO YOU THE VOTER, EFFECTIVE NO LATER THAN WHEN I AM RE-ELECTED OR ELECTED TO THE 111TH CONGRESS: 1. I WILL VOTE TO BAN ALL CURRENT OR PAST CONGRESSIONAL LEADERS, INCLUDING COMMITTEE AND SUBCOMMITTEE CHAIRMAN, FROM ANY CONGRESSIONAL LEADERSHIP ROLE. THIS IS BECAUSE OF THE CONTINUAL FAILURE OF BOTH DEMOCRATIC AND REPUBLICAN LEADERSHIP TO STOP SPECIAL INTEREST LOBBYING CORRUPTION OR TO RISE ABOVE DESTRUCTIVE PARTISANSHIP. Although Congress has only a 9% approval rating, the election is rigged to re-elect incumbents. But real change can still happen if those responsible for that low rating - the incumbent Congressional leadership - can be fired. In fact, they can be fired after the election, when they can be replaced with new bipartisan leadership chosen nationally for the first time! Until now, Congress has elected its own leadership by itself. Those elected are always among the most senior, with the longest, strongest ties to corrupt big business special interest lobbyists. That tradition appears to promote double-dealing and must end now. The ban includes any lame-duck session of the 110th Congress if called back into session after the November 4th election. Either or both chambers would have to hold new leadership elections, if the number of incumbents signing this Contract ends the current Congressional leadership's majority, as is likely. It should be recognized that it is the current system inbred with special interest lobbying, not the people working within it, that is fundamentally corrupt. Nonetheless, both the current system and its leaders must be changed to bring needed change. 2. I WILL VOTE TO REPLACE THOSE FAILED REPUBLICAN AND DEMOCRATIC LEADERS WITH FRESH NEW CONGRESSIONAL LEADERS THAT WILL GOVERN A BIPARTISAN WORKING MAJORITY OF FISCAL CONSERVATIVES AND MODERATES. THE GOAL OF THIS NEW CENTER MAJORITY OF CONGRESS IS TO BE A SUCCESSFUL TEAM USA WORKING IN THE NATIONAL INTEREST. IT IS TO STOP SPECIAL INTEREST LOBBYING CORRUPTION, ESPECIALLY WASTEFUL SPENDING SUCH AS EARMARKS LIKE THE BRIDGE TO NOWHERE. THE NEW CENTER TEAM USA LEADERS ARE HEREBY DRAFTED AS FOLLOWS: SENATE MAJORITY LEADER SEN. TOM COBURN (TEAM USA REPUBLICAN) SENATE MAJORITY WHIP SEN. BLANCHE LINCOLN (TEAM USA DEMOCRAT) SENATE PRESIDENT PRO TEM. SEN. JIM DEMINT (TEAM USA REPUBLICAN) SENATE MINORITY LEADER SEN. BILL NELSON (TEAM USA DEMOCRAT) SENATE MINORITY WHIP SEN. DAVID VITTER (TEAM USA REPUBLICAN) HOUSE SPEAKER REP. MARCY KAPTUR (TEAM USA DEMOCRAT) HOUSE MAJORITY LEADER REP. PAUL RYAN (TEAM USA REPUBLICAN) HOUSE MAJORITY WHIP REP. ALLEN BOYD (TEAM USA DEMOCRAT) HOUSE MINORITY LEADER REP. PETER DEFAZIO (TEAM USA DEMOCRAT) HOUSE MINORITY WHIP REP. JEFF FLAKE (TEAM USA REPUBLICAN) WHEN ELECTED I WILL FUNCTION AS A MEMBER OF THE CENTER WORKING MAJORITY, TEAM USA. I WILL SUPPORT AND TAKE LEGISLATIVE AND OVERSIGHT DIRECTION (INCLUDING VOTING) FROM THE ABOVE CENTER MAJORITY TEAM USA LEADERS OF MY CHAMBER UNTIL THE END OF MY TERM. Seniority during at least the 111th Congress will be considered generally a negative factor in the selection of any committee and subcommittee chairmen or any other leadership roles. Earmarks are targeted because they are the most blatantly corrupt spending in Congress. They are slipped into bills without any review, usually at the last minute. Earmarks are bribes to constituents to buy votes and must be completely banned, including "soft" earmarks. Ending Earmarks is just the first step in controlling wasteful government spending, but a first step that must be taken. Earmarks are the low hanging fruit. Viewed in another way, earmarks are only the most visible tip of the huge iceberg of wasteful spending. They are the clearest possible proof of Congressional total lack of fiscal discipline with the public's money. And proof of much larger waste hidden beneath the visible tip. If Congress cannot even control Earmarks, it cannot control any other wasteful spending either. 3. I WILL VOTE TO BAN ALL FEDERAL OFFICIALS, STAFF, AND OTHER EMPLOYEES FROM SPECIAL INTEREST LOBBYING JOBS OR ANY OTHER WORK IN WHICH THE APPEARANCE OF A CONFLICT OF INTEREST EXISTS WITH ANY PRIOR FEDERAL DUTY. More specifically, with the same speed as used in passing the Bailout Bill, I will vote for and otherwise support the promulgation of regulations and enactment of legislation banning the lobbyist revolving door no later than January 31, 2009, with an immediate effective date. This is my highest non-emergency priority. The new regulations and law are critical in establishing this vital ban to restore confidence of the American people in the integrity of their government and the essential economic and other services it provides the country. We will never find good solutions to critical problems confronting our nation until we remove corruption from all parts of the process. The ban must absolutely prohibit any former Federal government official or employee from working for compensation (as an employee or lobbyist, registered or not, or other contractor or in any other capacity) for any organization having any interests over which that former Federal government official or employee had any administrative, regulatory, or legisative oversight or control during his or her government service Simply put, the mere appearance of any conflict of interest between any of an individual's Federal government duties and his or her later non-Federal work must absolutely preclude that later work. To work the law must have teeth. Therefore, anyone found to be violating the prohibition would be subject to personal penalties including fines equaling at least all compensation for the prohibited work such as any salaries and/or other financial or other benefits. Personal penalties shall also include incarceration equaling at least the entire period of prohibited work. Any business or other organization providing any such prohibited work will face the same personal penalties for those individuals within the organization responsible for the violation, and the organization itself will be subject to compensatory and punitive damages. The Justice Department's budget will be increased in terms of funding and employment sufficient for fulfilling its new function of policing the new anti-revolving door statute and (the resources may become directly self-sustaining from fines). Also, whistleblowers Federal statues will be modified to include specifically violations of the new prohibition. Both Capitol Hill and the Administration have thousands of wonderful, talented and patriotic Americans working there, but the revolving door system within which they all work has evolved over many decades in a way that is fundamentally corrupt and broken, and that must be completely swept away, with no exceptions. 4. I WILL VOLUNTARILY REJECT ANY GIFTS, SUBSIDIES, OR DONATIONS OF FUNDS OR VOLUNTEER WORK FROM ANY SPECIAL INTERESTS OR LOBBYISTS, AS WILL ALL OF MY STAFF. In addition, I will never use campaign contributions to put any of my family members on my campaign payroll. 5. I WILL VOLUNTARILY CHOOSE TO BAR ANY PRIVATE MEETINGS AND ANY CONFIDENTIAL COMMUNICATIONS WITH ANY LOBBYIST OR SPECIAL INTEREST, AS WILL ALL OF MY STAFF. I WILL NEVER ALLOW LOBBYISTS TO PARTICIPATE IN PRIVATE DRAFTING OF LEGISLATION, AS WILL ALL OF MY STAFF. More specifically, barred private meetings include but are not limited to airplane rides or other forms of travel, golf or other games or exercise including walks, meals, drinking, receptions, parties, entertainment, or educational visits or conferences. Barred confidential communications include but are not limited to letters, notes, memos, emails, phone calls, voicemail and text, audio, video, or other messages. Any non-private meetings will be open to the public with reasonable notice provided in advance. All official business communications will be made public at least by posting quickly on my Web site for easy access. 6. I WILL VOTE FOR FULL INVESTOR RIGHTS TO CONTROL THE GOVERNANCE OF PUBLIC CORPORATIONS AND ALL FINANCIAL FUNDS, INCLUDING HEDGE FUNDS. THIS IS TO END WIDESPREAD CORRUPTION, PARTICULARLY INTERNAL SELF-DEALING AT THE BOARD AND/OR TOP MANAGEMENT LEVEL. INCLUDED ARE BOTH OWNERSHIP OR GOVERNANCE RIGHTS AND FUND INVESTMENT RIGHTS. In addition, I will vote to ban mandatory arbitration for investor disputes, since it is unfairly biased against investors, who must be guaranteed their full legal rights. 7. BECAUSE OF THE DANGEROUS ECONOMIC CRISIS, I WILL NOT VOTE FOR ANY NEW TAXES OR TAX INCREASES (INCLUDING INCREASING EFFECTIVE MARGINAL RATES) DURING THE TERM OF THE NEW 111TH CONGRESS. PRESIDENT HERBERT HOOVER RAISED TAXES AT THE BEGINNING OF THE GREAT DEPRESSION. I WILL NOT VOTE TO REPEAT THIS TERRIBLE MISTAKE. The entire two year term of this Congress is going to be required to rebuild the extremely fragile capital markets necessary for renewed economic prosperity in America. Any new taxes or tax increases, such as capital gains tax increases or increases to the highest brackets or marginal rates of the income tax (President Hoover's terrible mistake), reduce the value of capital, certainly cause further real estate and stock market declines. The American economy would thereby lose many trillions of dollars, in addition to what it already has lost in October. This would occur at exactly the time the economy's most critical need is to rebuild its capital base, which has already suffered a $14 trillion decline in the credit, stock, and real estate markets. In addition, I will not vote for any refundable tax credits or any other tax change that increases effective marginal tax rates, thereby creating perverse incentives not to work, both for low income workers and moderate income workers. The only exemption is gradually phased-in increases over the next decade in the gasoline tax in order to reduce our extreme over-dependence on foreign oil, which greatly reduces the strength of the economy and national defense. It is absolutely imperative that the U.S. transitions out of SUV's and large trucks and into smaller hybrid, all-electric, CNG and Diesel cars and light trucks as soon as possible. The CAFE approach is a proven failure. Also, "Cap and Spend" programs, including carbon tax systems, are in effect major new taxes. They will be deferred at least during this Congressional term and until New England and Europe can test the efficacy of the approach. Since nearly all economic growth and employment increases in America are created by individuals and small businesses, U.S. economic policies must focus on supporting and protecting them. Most laws and regulations have been written by big business lobbyists to their advantage, so they must all be reviewed and revised as soon as possible to correct this unwarranted bias. 8. ALSO BECAUSE OF THE DANGEROUS ECONOMIC CRISIS, I WILL SUPPORT AND VOTE FOR THE CREATION OF A SPECIAL TEMPORARY POSITION FOR FORMER FEDERAL RESERVE CHAIRMAN PAUL VOLCKER (DEMOCRAT), THE MOST EXPERIENCED, ABLE AND DEDICATED PUBLIC SERVANT IN AMERICA. HE WILL SERVE AS THE ECONOMIC CZAR FOR THE ENTIRE AMERICAN ECONOMY, ACTING DIRECTLY UNDER THE PRESIDENT AND WITH HIS AUTHORITY. Economic Czar Volcker would have the broadest possible oversight and appointment authority over at least the Treasury Department, Federal Reserve, Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Commission (FDIC), Comptroller of the Currency, Office of Thrift Supervision, Federal Housing Administration (FHA), Fannie Mae and Freddie Mac, as well as with international counterparts. His mission to to end the current economic crisis and prevent any future such crisis. His Deputy will be Anna Schwartz, by far the most highly qualified monetary expert in America. The nation's economic leadership during this economic crisis has been appalling bad. The poor performance includes both reactive crisis management and ignoring significant long term warning signs over many years. With implementation of the previous seven provisions of this Economic Crisis Contract and with a new Presidential Administration in January, all the Federal perpetrators of this historically ugly economic mess will be replaced. Except one: Federal Reserve Chairman Ben Bernanke, whose term expires in January, 2010. I will vote to support a Congressional demand by January 31st that Chairman Bernanke resign immediately. This is due also to his leading role in the Fed's deeply flawed policy of monetary ease that led directly to the real estate bubble and the later commodity bubble, without both of which the current economic crisis would not have occurred. In solitary contrast, FDIC Chairman Sheila Bair's performance has been outstanding and I will strongly support her continuing her exceptionally vital service through the end of her term in mid-2011. I WILL NOT COMPROMISE THIS VOLUNTARILY MADE CONTRACTUAL COMMITMENT THAT I HAVE MADE TO YOU THE VOTER, NEITHER THE LETTER NOR THE SPIRIT OF ANY PART OF THIS ECONOMIC CRISIS CONTRACT. I AFFIRM MY COMMITMENT TO YOU WITH MY VOLUNTARY SIGNATURE ON THIS ECONOMIC CRISIS CONTRACT, WHICH IS SIGNED AS IS MANDATORY WITHOUT ANY CHANGES OR QUALIFICATIONS, EITHER WRITTEN OR ORAL, AND WHICH I WILL MAKE EASILY AVAILABLE TO THE PUBLIC ON MY OFFICIAL OR CANDIDATE WEB SITE. ______________________________________ Congressional Candidate Signature ______________________________________ Candidate Name (Printed) and Date Copyright 2008 © by the Economic Crisis Contract Team