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Warren Buffett in Recent interview with CNBC, offered 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

http://video.cnbc.com/gallery/?video=3000031948
http://video.cnbc.com/gallery/?video=3000033852

The 26th amendment (granting the right to vote for 18-year-old's)
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.

Congressional Reform Act of 2011

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 01/01/12. The American people did not make this
contract with Congressmen/women.

Congressmen/women 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.

Warren Edward Buffett: (born August 30, 1930) is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and is the third wealthiest person in the world as of 2011.

Buffett is called the "Wizard of Omaha", "Oracle of Omaha" or the "Sage of Omaha" and is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Gates Foundation. He also serves as a member of the board of trustees at Grinnell College.


Added: Oct-23-2011 
By: Mondhaut
In:
Other News
Tags: warren buffet, business magnate, investor, philanthropist, best quote, congress, wizard of omaha, gates foundation
Location: United States (load item map)
Views: 15353 | Comments: 23 | Votes: 6 | Favorites: 3 | Shared: 3116 | Updates: 0 | Times used in channels: 2
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