I could end the deficit in 5 minutes
Godfather.
Posts: 12,504
true or not it's a great idea.
Godfather.
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 one (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 2012
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%.
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 12/1/12. The American people did not make this
contract with Congressmen/women.
Congress 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. Don't you think it's time?
THIS IS HOW YOU FIX CONGRESS!
Godfather.
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 one (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 2012
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%.
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 12/1/12. The American people did not make this
contract with Congressmen/women.
Congress 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. Don't you think it's time?
THIS IS HOW YOU FIX CONGRESS!
Post edited by Unknown User on
0
Comments
"Becoming a Bruce fan is like hitting puberty as a musical fan. It's inevitable." - dcfaithful
http://www.cnbc.com/id/43670783/Warren_ ... he_Deficit
Godfather.
Godfather.
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.
spot on
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
I say ... limited elected terms and mandatory retirement at age 65 too
the average age now for a senator is 60 and the house 55
these the oldest ever
no more lifers we need fresh blood
Good stuff, but this is partisan. He stops short of balancing the budget with new taxes which is the Republican mantra in Washington at this point.
Grover Norquist and his Republican pledge not to EVER raise taxes looks like “riots in Greece” if we don’t raise taxes.
Tax cuts for the wealthiest Americans implemented at a time when we had a budget surplus (Bush 43’s first years) were justified because we HAD a surplus.
The bottom line is that NOTHING will ever get done by Congress.
Here is why: Elected officials will do everything to protect their own personal interests (keeping their jobs). They will continue to give mere lip service to the debt problem as NO ONE is willing to be the person which gets credit for actually either raising taxes or cutting entitlements during their term in Congress.
It is said that there are three things which will ruin a politician’s career: Get caught with a dead girl, a live boy or admit you would or will raise taxes.
At some point those who buy US debt will refuse to do so. Long before a balanced budget could be achieved, the government would have to either print more money or shut down.
The ripple effect of the loss of these 1.3 trillion dollars or borrowed money (which the government hands out each year) would cripple every business which relies on consumer spending from government hand outs. (Hospitals, nursing homes, health care providers of every sort…the list is HUGE…and they employ a PILE of people who would lose their jobs.
The fact is, any change in the entire “economic ecosystem” triggers a “domino” effect in the economy. (The housing crisis wiped out 17 trillion bucks in investor cash).
The next wave of repossessions have now hit and still congress to a man, sits on its hands, arguing about what to do.
The fact is, we will do nothing. We will all merely ride this train until it runs out of track.
But you have to admit, it was a GOOD ride! The rich will always be rich, and the poor will be joined by a whole pile of former middle class citizens.
Riots? I think he is probably correct.
<http://www.youtube.com/watch?v=EW5IdwltaAc&feature=youtu.be>
we're all gonna be there some day
hell i'm alnmost 40
soon after that i'll be 50
then 55
then... holy shit
i'll be mayor
then senator @ 68
besides don't you believe old people know everything? they been around a lot. they are experienced and wise.
i am young, dumb and fulla :corn: popcorn
"Hear me, my chiefs!
I am tired; my heart is
sick and sad. From where
the sun stands I will fight
no more forever."
Chief Joseph - Nez Perce
with our best interests at heart
Unless there are mental capacity issues, I have no problem with older folks in the mix; I appreciate their perspective and experience and wouldn't cross them off simply because of their age...that's just silly to me...but to have that seat for their entire career? I think it makes many of them complacent, and some easily bought and losing sight of why they went that route in the first place (assuming it initially came from a place of sincerity - hell, even idealism).
Same thing for the Supreme Court Justices.
(and anyone abusing their position should be stripped of all benefits, pensions, etc.)
Anyway, yeah...this I like - "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." Those fuckers'd hustle big-time.
I also agree with what was said above; 3% is not elimination of the deficit....but hell, compared with what we've got now, I'll take it!
"Becoming a Bruce fan is like hitting puberty as a musical fan. It's inevitable." - dcfaithful
bickering along the color lines, getting nothing done thats where purples
come in and actually it is no color :? Purples have no party.
That is the problem with some that have been in for very long, lifers,
and it has gotten way too cushy. A system where the party lines do not allow things to
get done, no compromise yet the people WE employ still get paid with all benefits.
Where's the incentive?
I didn't know they don't pay SS tax :wtf: that really pisses me off! :fp:
This would be huge... Basically no one else gets pensions anymore besides public sector employees or unions. We all have to plan ahead for our retirement, politicians, school teachers, federal/state/municipal employees should be no different.
I'd be willing to continue pensions for maybe the military and for policemen/firemen, but no one else should be paid for the rest of their lives out of our pockets just for doing their job that they are paid to do.
Imagine how much we'd save if we would cut pension out?
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
only take three days for most people (in the U.S. ) to receive
the message. Don't you think it's time?
THIS IS HOW YOU FIX CONGRESS!
DONE!
Godfather.
I'm not sure how this will fix congress but I do know that every letter or phone call (but this does not include the very marginally useful "one click" "activism" that we seem to get bombarded with) to a representative is considered the voice of 100 people. I've asked a number of people who have strong opinions about issues how many times they've written or called their representatives and the answer is usually a dismissive one or silence.
-Eddie Vedder, "Smile"
The answer has been nothing. I have never gotten an email or letter or phone call back from a Senator or Representative that I have contacted.
I guess you just have to know how to schmooze!
But seriously, never? I've gotten several including (several years ago) a one and a half page letter from Senator Alan Cranston of California in which he was very specific in precisely addressing my letter to him.
-Eddie Vedder, "Smile"
Never. Maybe I'm doing it wrong
but they think cause I live on Lake Spivey I gots $$$$
This inside trading bullshit that Congress is doing, the rich just getting richer,
this needs to stop too...
what a farce this country is getting to be :evil: Our forefathers would be greatly disappointed
or was it the plan all along? say it's not so!
Yeah well as long as we protect special interests nothing is going to change. It happens on both sides, Democrat and Republican.