Warren Buffett, in an interview on July 7, 2011 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 percent of GDP, all sitting members of Congress are ineligible for re-election.”
Mr. Buffet went on to say:
"We had debt at 120 percent of GDP, far higher than this, after World War II, and no one went around threatening we're going to ruin the credit of the United States or something in order to get a better balance of debt to GDP. We just went about our business, and people did it in a cooperative way."
You can make a difference
"You're playing with fire when you don't need to play with fire. We don't need to tell the rest of the world that anytime people in Congress start throwing a tantrum that we're not going to pay our bills."
Consider, the 26th amendment (granting the right to vote for 18-year-olds) took only three months and eight days to be ratified. Why? Simple. The people demanded it. That was in 1971, before computers, email, cell phones, etc.
Of the 27 amendments to the Constitution, seven took one year or less to become the law of the land — all because of public pressure.
We are asking each person who reads this to send this message to a minimum of 20 people on their address list; in turn ask each of those to do likewise. Then consider sending the message to your congressmen.
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/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 percent.
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 Jan. 1, 2012. The American people did not make this contract with Congressmen/women. Congressmen/women 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 20 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?
Yours in success,
Lew, Jeremy and Will Nason
To be notified next time I post an article, please click the “Follow” button below my headshot in the top left corner.