Friday JP Morgan released their earnings. On the analyst call, Jamie Dimon, chairman, president and CEO of JPMorgan Chase, clearly stated his displeasure with the gridlock in Washington. Jamie is right.
This gridlock is having a very negative effect on the growth of the country and goes beyond partisan bickering and posturing. The people who we have elected don’t care about the country, our people, education, jobs, etc. If companies were run like
Washington there would be no companies in business. This is a disgrace.
Taking Gridlock to far
We created a system that incentivizes officials to care only about votes in their district and getting reelected. We have to impose term limits in both the House and the Senate.
Term limits will change the types of people the job attracts and the value they have to special interests. It will bring the position back to what it is intended to be – legislators first and politicians second.
Advantages of Term Limits for US Congress
There are several other advantages to term limits. First and foremost it dramatically reduces the advantage of incumbents. The politicians holding those roles hostage are powered by dollars which mean their fuel is money from special interests and lobbying.
Once the stranglehold on the job has been broken other things improve too. Our legislators’ judgement will be free from the influence that causes us so many problems. More people will pass through the halls of congress, so we will get people from more diverse fields and fewer lawyers.
Finally and most critically we turn the role into one of citizen legislators. In 2012 then Republican Senator Jim DeMint of South Carolina said of term limits…
“We need true citizen legislators who spend their time defending the Constitution, not currying favor with lobbyists,”