Warren Buffett quipped that he could end the deficit by passing "a law that says anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.
Collected via e-mail, October 2011
In July 2011, discussion about raising the debt ceiling heated up as the
Opinions about what should be done were sought from various quarters as news organizations struggled to keep up with the battle waging in Congress and behind closed doors. Business magnate Warren Buffett waded in with his opinion on the matter in an early-morning
So yes, it’s true that one of the most respected businessmen of modern times did indeed voice the quote now widely ascribed to him in various
The rest of the lengthier
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 yearolds, took only 3 months& 8 daysto 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 yearor 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!!!!!
If you agree with the above, pass it on. If not, just delete. You are one of my 20+.. Please keep it going.
Warren Buffett is most certainly not asking folks to forward the
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