Billionaire Warren Buffet Tells Us How to Fix America’s Financial Problems

I received this same message from two of my friends and my son in Missouri today. I think this is food for thought, because President Obama has been mus-quoting Warren Buffet.

Warren Buffett, in a recent interview with CNBC, offers one of the best observations about the debt ceiling:

“I ould 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, al 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 hould 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. If not, just delete. You are one of my 20. Please keep it going.

31 responses to “Billionaire Warren Buffet Tells Us How to Fix America’s Financial Problems

  1. i completely agree with the part congressmen could not run for re-election if certain limits are past. however i dont think if they should receive the same insuarance as normal people, insurence companies will start paying them to endorse there plans and now we have another problem?

  2. I agree with this article 100%. I wonder what happen to check and balance. Many congressmen are abusing their power. I can already see one day, the American people will march up to Washington and revised the government. It will be a second America revolution.

  3. I kind of agree with this article. I believe are political system is broken and needs to be revised.

  4. This method could help lower and eventually remove the United States’ debt. However, so can hundreds of other methods. Every system has their own pros and cons and it just depends on the people’s preference.

  5. This sounds like a great idea to me! Why should they get to vote on their own pay raise of course they are going to want more money. They should have to do everything that a regular citizen does. It would not be fair to let what they do continue. There is no need for them to have such a different way of life.

  6. I mostly agree with this idea, but if they are not getting any money for being a congress man then they will have to make a living else where. Then they would have to spend less time in congress.

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  8. I couldn’t agree with this more! I definitely agree that the founding fathers did not have such positions as congressmen for the sake of a career with extreme benefits. Such positions were set up for honor and for those who respect our people and government enough to serve on their behalf.

  9. I believe that Buffet’s ideas are a bit radical but that may be exactly what this country needs. His ideas would promote growth in the sense that politicians would work harder in coming up with ideas that actually work for fear of losing their jobs.

  10. reduce government spending and use that money for more insuring things and help our economy out more.

  11. I feel as if the government would follow this we wouldn’t not long be in debt anymore. And our world would flow a lot smoother as well.

  12. I agree with this article for two reasons. First, it addresses the real issue which is greedy congressmen. Second, it gives congressmen the oppurtunity to go through the basic struggle like everyother individual. They will pay for their rtirement, medical isurance, and learn the struggle of everyday life.

  13. Our debt could be fixed through this. Citizens struggle every day and its like the Congress could do whatever they want when they want. There’s just so much corruption in the government. If people just start demanding what they want, maybe they will get what they want. Buffet ideas are pretty good though.

  14. I strongly agree with this article. He provides valid points that can be essential to helping our nation. Our nation is doing so bad currently that i feel we can be opted to try anything. We never know how one person ideas can be life changing to millions.

  15. I read an article the other day stating that Warren Buffet payed less taxes this year than his secretary did. Same thing with Barack Obama this year. Talk about loopholes.

  16. It is so true if people would start to speak up and demanding what they want so much can be done…in the best interest of the public!

  17. Buffet ideas are excellent. This would be good progress towards the right direction. Now, the question is how do we get this going?

  18. Buffet sounds like he has some great ideas. He sounds like he knows what he is doing. Congressmen make thier rules to benefit them. When will this action get started?

  19. If they passed the law Warren Buffett is talking about, our debt would be fixed. Although, we would have a problem at first; considering we would have to find replacement people for our congress because they would not get re-elected.

  20. The way Buffet explains himself well and makes his idea really appealling but the issue is how do we get this plan in action?

  21. It’s rather irritable that people who have a lot of money somehow believe they have the answer to everyone’s problems. Most people who have a large sum of money have no idea what it is like to live and try to raise a family in poverty.

  22. Sounds like an excellent idea, now the problem is to actually make it happen!

  23. I definetly agree to what buffet proposed upon fixing congress. The best way is to let congree people get paid while they are out of office, only in office. Also extra funds should go to other better causes. Lastly, they should purchase their retirement plan like other americans.

  24. So if I understood correctly, the more public pressure we apply, the faster changes will be made, yes?

  25. I agree also with this plan. Congress get out of tons of thing and with this they are suppose to get paid for thing as us regular citizen do. Millions and millions dollar get wasted with Congress and with this they will be like all Americans. Money will go towards something better.

  26. These would be some incredible steps in the right direction. This article outlines some very serious inherent issue present in congress today. The life pensions after only one term, pay raises and health care plans. They force plans down our throats while they sit high on the hog.

  27. It’s not fair that congress can live the easy way of life, while the US citizens have to struggle day to day. Congressmen do not deserve a pension or any type of benefits after they leave office. It’s not fair that Congressmen get to make their own rules just to benefit.

  28. I agree as well, his idea actually sounds like a good one! Congress is living the life like they have no cares of worries; meanwhile, citizens of America as struggling to make ends meet in this fallen economy. If congress was forced to actually work for things like we do, actually use the same healthcare, and experience what we do, they will be forced to understand what us “normal people” have to go through. Great idea!

  29. I agree with this post 100% as well. The sustainability of our country relies in the hands of the working class American people. Congress merely acts on behalf as our advocacy for relative information as we, the American people, would normally not understand right off the start. This completely explains why our government is so out of tune with the modern economic culture of our recession. There is so much corruption in the government and political world because we have people that pass laws using aphorisms to sway and woo our American people. People need to wake up and smell the coffee, AS WELL AS OUR CONGRESSMEN, and change the ways of our government!

  30. I agree 100% with this. Congressmen do not deserve a pension or any type of benefits after they leave office. There only benefit should be having the honor to sever their countrymen with dignity and the common goal of making the best country in the world. Most of are politicians are corrupt and greedy, they only hold their position for their own personal gain and profit. Taking from the system and giving nothing back to the people as you and tell from are current state of financial disaster. I believe are political system is broken and needs to be revised with the complete restructuring of all current senators and congressmen benefits and they needed to be reminded that they are there for the people and to progress the country.

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