Fixing the Federal deficit (by Warren Buffett)

 

Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling:

I could end the deficit in 5 minutes,” he told CNBC. “You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”

The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971…before computers, e-mail, cell phones, etc.

Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land…all because of public pressure.

Warren Buffet is asking each addressee to forward this email to a minimum of twenty people on their address list; in turn ask  each of those to do likewise.

In three days, most  people in The United States of America will have the message.  This is one idea that really should be passed  around.

Congressional Reform Act of 2011

1. No  Tenure / No Pension.
A Congressman collects a salary while in  office and receives no pay when they are out of office.

2. Congress (past, present & future) participates in Social  Security.
All funds in the Congressional retirement fund move  to the Social Security system immediately. All future funds flow  into the Social Security system, and Congress participates with  the American people. It may not be used for any other  purpose.

3. Congress can purchase their own retirement plan,  just as all Americans do.

4. Congress will no longer vote  themselves a pay raise. Congressional pay will rise by the lower  of CPI or 3%.

5. Congress loses their current health care  system and participates in the same health care system as the  American people.

6. Congress must equally abide by all laws  they impose on the American people.

7. All contracts with  past and present Congressmen are void effective 1/1/12. The  American people did not make this contract with Congressmen.
Congressmen made all these contracts for themselves. Serving in  Congress is an honor, not a career. The Founding Fathers  envisioned citizen legislators, so ours should serve their  term(s), then go home and back to work.

If each person contacts a minimum of twenty people then it will only take three  days for most people (in the U.S.) to receive the message. Maybe  it is time.

THIS IS HOW YOU FIX CONGRESS!!!!!

please retweet and repost until everyone knows what the richest and most respected (and listened to!) businessman in the United States thinks about solving the debt crisis in America.

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About richardfrisbie

I'm a professional baker, reader, bookseller, publisher, columnist, photographer, cook, hiker, kayaker, freelance writer, and workaholic who likes to garden
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2 Responses to Fixing the Federal deficit (by Warren Buffett)

  1. Doris says:

    An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers
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  2. Enjoyed looking at this, very good stuff, regards . “It is in justice that the ordering of society is centered.” by Aristotle.

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