“I could end the deficit in 5 minutes”
On Thursday July 7, 2011 Warren Buffett, businessman, investor and third wealthiest person in the world, was interviewed on CNBC.
His message to the United States of America has been sent around as an email and came into my inbox this morning. I researched it and decided to reprint the message here. It’s well worth your time to read and consider. How you move forward with this information is entirely up to you.
“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 person to forward this as an 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!!!!!
UPDATE: An attorney in St. Louis, Jarrad Holst, points out by email that there is a way to enact Buffett’s idea without the cooperation of Congress. Under Article V of the U.S. Constitution, a “Convention for proposing Amendments” is convened when called for by the legislatures of two-thirds of the states. A proposed amendment would then need to be ratified by the legislatures of three-quarters of the states. If that happens, and it is a very, very big if, Buffett’s deficit plan would become the law of the land. That process would, however, take more than five minutes.