10 August 2011

Amendment 28

Usually when Warren Buffett talks politics I put my fingers in my ears, for it is drivel (e.g. the other quotes at the bottom of this piece). But this is a stellar idea:
MSN Money | Kim Peterson | Warren Buffett's ingenious deficit idea

"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."
Of course I'm not sure how you simultaneously believe this is a good idea and believe the things he went on to say.  Perhaps he doesn't.  But regardless, this is a good idea.  Maybe make some allowances for counter-cyclicality, but it's a start.

Via Nickel Cobalt

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