Warren Buffet solutiom to the bloated national debt

[Dadar]

Any time the the budget deficit exceeds 3% of GDP all sitting members of congress are ineligible for reelection.

That would get their attention. Buffet and Howard Marks are national treasures of sage advice. RIP Charley Munger.

 

[Dadar]

Another Buffet gem on where things stand with the debt. "To avoid a hangover, just stay drunk"

 

[Dadar]

Fly in the ointment is the foxes in the hen house would have to pass the necessary legislation rather than choose to just stay drunk

 

[TigerFlow]

Any time the the budget deficit exceeds 3% of GDP all sitting members of congress are ineligible for reelection.

That would get their attention. Buffet and Howard Marks are national treasures of sage advice. RIP Charley Munger.

That would get bipartisan support from the public, but the polticians ain't gonna pass it.

 

[CUTiger1977]

 

[leetp]

Any time the the budget deficit exceeds 3% of GDP all sitting members of congress are ineligible for reelection.

That would get their attention. Buffet and Howard Marks are national treasures of sage advice. RIP Charley Munger.

And insofar as congress's foremost responsibility is to manage the national budget, anytime a budget is not set prior to the upcoming fiscal year, it ought to trigger a complete re-election of the House and Senate and no present member should be eligible for reelection.

As far as budget deficits go, budget deficits should not be permissible at all. We should enact a constitutional amendment that anytime the nation is faced with a deficit, the tax rate shall immediately increase in a flat rate across all tax brackets to account for the deficit.

It is paramount that the poor and the wealthy alike face the burden of runaway spending. I think we'll see real quickly how popular universal healthcare, student loan forgiveness and "going green" truly are in such a case.