Warren Buffet's plan to end the debt and fix Congress

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From a forwarded email I got:

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
 
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From a forwarded email I got:

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

Warren Buffett did make the first quote, but the rest of the email is hardly his words, and he certainly is not asking anyone to forward it to their friends.

That aside, all of this is mostly wishful thinking.
 
A deficit at, or below, 3% is still a deficit...

I am curious to see what snopes says about this chain mail letter though.

Me too.

I posted the same thing in another forum. The first response:

But what the author left out is how Buffet suggested we pay off the debt:

“Our credit is good. It’s not like if we don’t pay we can’t pay. We have the right to print our own money. The U.S. is a very special place.”


Michelle Malkin » Warren Buffett: I Could End the Deficit in 5 Minutes

One interesting comment (from the link):

We also have the right to drive rusty nails into our necks, but that doesn’t make it a good idea.
 
Warren Buffett did make the first quote, but the rest of the email is hardly his words, and he certainly is not asking anyone to forward it to their friends.

That aside, all of this is mostly wishful thinking.

Yes. Mostly false. Your comrade moderator should be careful about what he posts.

See this...
http://www.snopes.com/politics/medical/28thamendment.asp

Though I will say that many of the statements in the post are things I would like to see happen.
 
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Yes. Mostly false. Your comrade moderator should be careful about what he posts.

See this...
http://www.snopes.com/politics/medical/28thamendment.asp

Though I will say that many of the statements in the post are things I would like to see happen.

Well, comrade, the Snopes link you posted is similar, but not the same thing. As for the statement attributed to Buffet, I see you like it, but don't think that Buffet actually said it.

I think most of us are agreed that it is mostly wishful thinking anyway.
 
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