WARREN BUFFET'S PROPOSAL FOR CONGRESSIONAL REFORM
By
By Spyros Pavlou, PhD
I love Warren Buffett. He is the only voice of reason and good sense in the midst of the chaotic economic decision making and political incompetence that is plaguing our country. Buffett’s proposal was posted on October 16, 2011 by Regis Tremblay of World Press, and quotes Warren Buffett’s deliberations during an interview conducted by CNBC regarding the US national deficit. Mr. Buffett claimed:
“I could end the deficit in 5 minutes. 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”. Mr. Buffett’s ingenuity is admirable.
Warren Buffett articulated his ideas about the need to reform the US Congress in a fast and efficient way. He suggests bundling these ideas under one name: Congressional Reform Act of 2011. It appears that current polls posted by the news media suggest that the American people are ready to implement such a bold initiative.
Here is Mr. Buffett’s recipe for “fixing Congress”:
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 them-selves 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 effective1/1/12. 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 should serve their term(s), then go home and back to work”.
“THIS IS HOW YOU FIX CONGRESS!!!”
These types of messages posted by credible and highly respected citizens such as Warren Buffett should be propagated to all people that are starving for alternatives means to move the country forward, so that all can aspire to reach the ultimate level of prosperity and happiness.
For further information on Warren Buffett’s, How to fix Congress you may contact Regis Tremblay at:
http://regtremblay.worldpress.com