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Warren Buffett, "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!!!!! If you agree with the above, pass it on.
Deficits of 3% of GDP is still $500 Billion per year.. That wouldnt balance the budget
And lefties here will tell you that if we have a balanced budget, this means the economy is crashing. I cant tell you how many kooks i've argued with here telling me that the only reason the economy grows is because we have debt..
This system sounds like the New Hampshire Government. We have 435 (!) people in our House of Representatives that do not receive any compensation beyond that set in the 1800's of $100 per year and reimbursement of their travel expenses. AFAIK they are not even reimbursed for their housing costs when the House is in session. (note - some of our legislators live over 100 miles from the capital). These jobs are effectively voluntary.
The result of having a voluntary legislature is it excludes people that have to work for a living. It also results in the people getting exactly what they are willing to pay for. That means the elderly, the subsidized, the wealthy and the fools. As I am retired I could afford be a legislator but I could not afford to pay for an effective campaign. So I just sit back and watch the Concord follies.
Making our Federal legislature even more costly for individuals would result in even more insanity. Just as I cannot afford a campaign for our State legislature I cannot afford a Federal Congressional campaign. I simply do not have the fifty grand minimum entry fee to set up a campaign let alone the 500 grand for advertising. This is why our Federal legislature is a "millionaires club". No wonder most of our population gets ignored by Congress. Effectively we do not have any real representation and we cannot afford to bribe our Congress critters with multimillion PAC campaign contributions. The corporations that do have that much money have already bought Congress. That is the way the system was set up and still is.
FWIW - I have no ideas about changing this to a real representative system but I do think about the problem.
Operating a debt free government in a debt dominated economy would be very difficult as the government is one of the major purchasers of our economic output. However, this is a topic for another discussion.
Buffett is a tool for the established financial system.
There is nothing in this that would help the common man at all.
The national GDP is a ficitional number based on debt itself which
does nothing but create a false impression of production, it is not
production anymore, it is debt. To link the Congressional budget
to the GDP is a misleading correlation. There should be no national debt.
National debt to international banking cartels is anti-Constitutional.
It's been over 100 years now since the United States sold out its
citizenry to the world banking elite. Sometimes gradually and sometimes
dramatically, the control has grown to astronomical levels and reached into
all fields of education and information propaganda.
John F. Kennedy started to turn back the wheels, he was murdered for it.
The entire United States national debt is a fictional entity with no connection
to reality as prescribed by the Constitution.
End the Fed, restore the power to create money to the United States Congress
and pay off the debts with real Federal dollars. The sole power to coin, print,
distribute, and mark value of currency is the responsibility of the people's
representatives in Congress, and that power is not to be relinquished to a debt cartel
of international bankers who continue to enslave this formerly great nation
with their own fiat currency which we are forced to work for, pay tax on, and
see our solvency and intrinsic worth sold out to these thieves, warned against so
emphatically by the greatest leaders of our formerly sovereign country.
Buffett is a tool for the established financial system.
There is nothing in this that would help the common man at all.
The national GDP is a ficitional number based on debt itself which
does nothing but create a false impression of production, it is not
production anymore, it is debt. To link the Congressional budget
to the GDP is a misleading correlation. There should be no national debt.
National debt to international banking cartels is anti-Constitutional.
It's been over 100 years now since the United States sold out its
citizenry to the world banking elite. Sometimes gradually and sometimes
dramatically, the control has grown to astronomical levels and reached into
all fields of education and information propaganda.
John F. Kennedy started to turn back the wheels, he was murdered for it.
The entire United States national debt is a fictional entity with no connection
to reality as prescribed by the Constitution.
End the Fed, restore the power to create money to the United States Congress
and pay off the debts with real Federal dollars. The sole power to coin, print,
distribute, and mark value of currency is the responsibility of the people's
representatives in Congress, and that power is not to be relinquished to a debt cartel
of international bankers who continue to enslave this formerly great nation
with their own fiat currency which we are forced to work for, pay tax on, and
see our solvency and intrinsic worth sold out to these thieves, warned against so
emphatically by the greatest leaders of our formerly sovereign country.
There are always "unexpected" exigencies, a continuous flow, if necessary.
What do you think wars are for?
How does Warren Buffet handle his personal exigencies? Easy, he has money.
Is the Government allowed to keep reserve? No
Any "budget" can be murdered with "exigencies".
Exigencies are on sale EVERYWHERE.
Who declares war? Not Congress!
Who funds wars? Congress.
yes unexpected that why I said having a 200 billion buffer...use it for unexpected....or pay the debt and 200 billion was just a number....we could easily say the expected revenue is 2.7 trillion, let's have a budget of 2 trillion...a 700 billion buffer/payoff
but remember a surplus spent is a deficit (a lesson that should have been learned from the late 90's)
to the naysayers, nothing is ever full proof, you can never have it all, there are always trade offs in life, however, I think the point he is making here is, that WE THE People have appointed these people and said, the heck with it, it's their job, so not one of us has made them accountable and we can.
be it, works or not....applying different tactics might prove somewhat effective, and note the word somewhat....it's not black or white, nothing is.
"Buffett is a tool for the established financial system."
Warren Buffet is not a tool for the system. The system is a tool for him. He has made billions by understanding and manipulating the system.
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