Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceilin

[madokie]

I'm posting this in full as I don't think I'm breaking any rules. I seen this interview yesterday and I agree with the man 100%. dm
A friend of mine shared this on Facebook. I think Mr. Buffet is spot on!

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 SHARE this on Facebook or 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 SHARES this on Facebook or 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?

[silverweb]

1. Verified, from 2011.

[font color="navy" face="Verdana"]I think it's an almost impossible long shot right now, but certainly a list of ideas worth getting behind.

http://www.snopes.com/politics/quotes/buffett.asp

[yorokmok]

3. List is not Buffett...

....and he certainly would not ask you to forward to 20 friends. I think even he has better things to do with his time than spam his friends on Facebook.

[madokie]

5. I watched him yesterday morning and he was saying this

whether he said all of it or not I don't know. I don't have that good of a memory. Here is what I did hear him say yesterday:

"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 SHARE this on Facebook or 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.

[muriel_volestrangler]

14. The "Congressional Reform Act of 2012" is totally unconnected to the "3% of GDP" remark

apart, that is, from the use of the word 'Congress'. This may as well read "Warren Buffett said Congress is a big building in Washington DC. Please sign a petition about the pay and conditions of Congress".

[madokie]

4. I knew it was a while back that I first seen this interview, didn't realize it was that long ago

but I watched it yesterday morning on TV and then when I got this email I thought why not pass this around. As the man says the only way we'll get change is if we demand it. Thats what the President has been telling us for 4 years now also.
I don't think it can hurt to pass this around once more.

Lock if need be (-:

[silverweb]

6. I wasn't 2nd-guessing you, madokie!

[font color="navy" face="Verdana"]It was only because there was no link that I went looking for one, and Snopes verification is a big plus!

I agree with you and with Buffet... just think it's a long shot with this Congress.

[madokie]

8. my bad

[silverweb]

9. No problem...

[ret5hd]

2. i dont think most people realize what will happen when there is no deficit..

during "normal" times, much less a recession/depression.

i don't think 3% is high enough.

[silverweb]

7. Agreed.

[font color="navy" face="Verdana"]Not sure on the amount, but I remember reading some time ago that a certain amount of debt is actually desirable for a healthy economy.

[madokie]

10. What scares me and a lot of other is the number 16 or so trillion

When you look at it as a percentage of GDP it doesn't seem so scary.

[silverweb]

11. Exactly.

[font color="navy" face="Verdana"]And, as always, it's the reTHUGs screaming the dollar amount, not the percentage, and only when the President is a Democrat.

[madokie]

12. Reagan, Bush1 and little boot's administrations

along with their republiCON friends in congress are who ran this debt up, not our SS, Medicare, Medicaid or any of our other social programs. The hand outs to the rich each year makes the rest of our social programs look like small change in comparison.

The pukies and their handlers believe that if you repeat a lie loud and often enough it will become fact in peoples eyes.

[GeorgeGist]

17. $16,000,000,000,000 =

106.7 %. Of GDP.

[hughee99]

15. Are you talking about DEBT or deficit? n/t

[muriel_volestrangler]

13. Why does anyone write things like "seven (7) took one (1)"?

It seems to be an American affectation, meant to lend a spurious air of officialness to whatever you're making up. Are there people who are unable to understand the word 'seven', but able to comprehend all the more complicated ones around it? What is meant to be ambiguous about it, that a numeric '7' has to follow it?

[Bucky]

18. I (eye) see (C) what you (U) mean (Jean).

[wilsonbooks]

16. the 28th amendment portion of that email is a collection of right wing memes

here is snopes take

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