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Archive for October 2011

An effective plan to end the deficit – well, maybe

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The following, an unusual twist on email chain letters, showed up in my Inbox this morning.  Usually someone who treats such things as spam, this one sparked enough interest that it was not only read but passed on.  The legitimacy of the Buffet quote is questionable as it doesn’t seem to fit his political ideology  – remember, he’s the source of Obama’s so-called “Buffet Law” based on the claim he pays a lower percentage of his income than does his secretary.  It’s uncertain whether the ideas proposed could be put into law or, if they were, whether they could be enforceable or pass the Constitutionality test.

At the same time, this touches a chord common to both the Tea Party and Occupy Wall Street crowds – that the powerful enjoy privileges the common man doesn’t share, and pass rules they don’t have to obey.  The core concept – that public pressure can change even Congress – is valid.  And so, this idea is offered up for consideration and discussion.


 “I could end the deficit in 5 minutes,”

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 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.  Congress can purchase their own retirement plan, just as all Americans do.
  3. Congress will no longer vote themselves a pay raise.  Congressional pay will rise by the lower of CPI or 3%.
  4. Congress loses their current health care system and participates in the same health care system as the American people.
  5. Congress must equally abide by all laws they impose on the American people.
  6. 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 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. Maybe it is time.



Written by Jeffrey S. Smith

22 October 2011 at 9:35 am

Posted in Insights

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