I have a better idea. Let the politicians personally share in the savings by cutting government spending. How about we give the House and the Senate a pay bonus equal to 0.1% of the amount by which federal spending is reduced from the previous year. That bonus will be divided equally among every rep and senator.
So lets say Congress cuts 2011 federal spending by $200 billion compared with 2010. The 0.1% bonus will give Congress $200mm to split among the 535 federal reps and senators. That would be a bonus of $373,831.78 for every member of Congress.
I'll bet that would get federal spending down faster than anything. ,
But you only give the bonus to those that voted for the cuts, and I would make the cuts to some spending off limits, like the military.