Buffet's proposal to fix national debt

[seanbrock 1,684]

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 one (1) year or less to become the law of the land - all because of public pressure.

 

Warren Buffet is asking each addressee to SHARE this on Facebook or 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 2012

 

1. No Tenure / No Pension.

 

A Congressman/woman collects a salary while in office and receives no pay when they're 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/women are void effective 12/1/12. The American people did not make this contract with Congressmen/women.

 

Congress 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 SHARES this on Facebook or contacts a minimum of twenty people then it will only take three days for most people (in the U.S. ) to receive the message. Don't you think it's time?

 

THIS IS HOW YOU FIX CONGRESS!

 

If you agree, pass it on. If not, delete.

You are one of my 20+ - Please keep it going, and thanks.

Simply put, Warren Buffet is one of the greatest American's in the past 100 years.

[CampinWithaMissingPerson 2,025]

Holy Checks & Balances Batman!

 

I like it.

[oochymp 2,393]

the Warren Buffet interview cited was over a year and a half ago, and yet nothing has happened, could be for any of a number of reasons but the fact remains

[Duck Fallas 209]

It is great to see one of the richest men in the world be so in tune with the common man in our country.

[Zack_of_Steel+ 3,014]

The only other awesome thing to come out of Nebraska besides Zack_of_Steel.

 

EDIT: WAIT, WAIT, I forgot Runza restaurants.

Edited January 18, 2013 by Zack_of_Steel

[Guest tOSUBUCK3Y3]

Sadly nothing like this will ever be put in place until Americans grow a pair. The left and right are to busy fighting with one another to organize and force the politicians into change. Reps and Dems dont mind because as long as there is division amongst the people they hold the power. Divide and conquer. The difference between a republican politician and democrat is very slim. The President and congress are our employees. We need to start acting like it. The government is wasting our money at a ridiculous rate. Especially the current worthless President. Worst President of all time. Some might argue that but they would base their argument off of social issues like gay marriage,abortion rights etc.. Which makes your argument irrelevant to me. The government should stay as far away from those issues as possible.

Edited January 18, 2013 by tOSUBUCK3Y3

[CARDINAL 205]

This proposed 28th Amendment to the Constitution is a great idea! I guarentee that the Founding Fathers would have supported this, plus the two term limit for President and Vice President as well. Fixing important parts of the political system (this political reform, plus many other parts such as banning gerrymandering, campaign finance reform, etc.) is really the only way that America (specifically Congress because they are a fuckin disgrace at the moment) can start to get things done and help to make the country "a more perfect union"!!!

Edited January 21, 2013 by CARDINAL

[Duck Fallas 209]

Sadly nothing like this will ever be put in place until Americans grow a pair. The left and right are to busy fighting with one another to organize and force the politicians into change. Reps and Dems dont mind because as long as there is division amongst the people they hold the power. Divide and conquer. The difference between a republican politician and democrat is very slim. The President and congress are our employees. We need to start acting like it. The government is wasting our money at a ridiculous rate. Especially the current worthless President. Worst President of all time. Some might argue that but they would base their argument off of social issues like gay marriage,abortion rights etc.. Which makes your argument irrelevant to me. The government should stay as far away from those issues as possible.

I was right there with you unitl "...worst President of all time..." there have been far worse Presidents than Obama. You could maybe say the worst in your lifetime, but even that would be a stretch if you took an unbiased look backward to G.W. Bush.

[Omerta+ 1,206]

I was right there with you unitl "...worst President of all time..." there have been far worse Presidents than Obama. You could maybe say the worst in your lifetime, but even that would be a stretch if you took an unbiased look backward to G.W. Bush.

 

I will be honest I am not sure who is worse. I did not like Bush at all because he was a lying bureaucrat. I don't like Obama because he is a lying and inept politician.... What is worse Aids or Cancer....I can't decide.