Warren Buffett: I Could End the Deficit in 5 Minutes

michelle malkin ^ | July 8, 2011 | Doug Powers

[barmag25]

Billionaire Obama supporter Warren Buffett weighed in about deficit reduction with a hypothetical plan:

“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 reelection.”

I like it, Mr. Buffett, but you might have more than a little trouble getting both chambers of Congress to pass a law that castrates their power and would ultimately send them looking for private sector work in this economy.

Buffett also added:

“We will pay our debts in the end,” Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., said in a Bloomberg Television interview on “In the Loop” with Betty Liu from an Allen & Co. sponsored conference in Sun Valley, Idaho. “Our credit is good. It’s not like if we don’t pay we can’t pay. We have the right to print our own money. The U.S. is a very special place.”

We also have the right to drive rusty nails into our necks, but that doesn’t make it a good idea.

[hinckley buzzard]

I could end the energy crisis in five minutes. All you do is invent a motor that runs on water vapor.

[OrangeHoof]

I say we take all of Buffet’s money and Soros’ money and all the other “we-should-be-taxed-more” liberals’ money and make a nice down payment on the debt and beautify America at the same time.

[FlingWingFlyer]

"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 reelection.”

Or you can make THEM make up the difference out of their own pockets. That'll cool their jets about BIG government. The piggies in congress and the U.S. Government are out of control. It's time to reign them in and teach them who REALLY runs the government.

[FlingWingFlyer]

Whoops! I’m in the royalty mode. “...rein them in...” Must be because the prince and princess are visiting the U.S. and according to the news, Americans are just tickled to death about it. oy.

[RichInOC]

Write the check, old man.

[rbg81]

The problem is that they’d blow out the budget just to reap rich rewards from the special interests they serve. Serve 2 years and then live on Easy Street for the rest of your life.

[jonascord]

I've got a better idea. If ANY public official, IE, anyone who swears an oath as a prerequisite to holding the elected or appointed job, commits a felony, his sentence is forfeiture of everything he owns, and life without parole in a maximum security prison.

If any private citizen assists the public servant in the commission of the crime, like bribery, he gets the cell next door, where they can talk for the rest of their lives.

It would either get us more honest public SERVANTS, or way smarter crooks.It wouldn't even cost much. You'd only have to do it to a few, and the rest will get the message. Either straighten up, or resign and hope no one finds out, or catch the next flight to Rio.

[Savage Beast]

“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 reelection.”

I can do better than that, Warren:

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 FIRED AUTOMATICALLY!”

Now--you tell us how to get that law passed.

And by the way--anybody--any moron--could end the deficit in 5 minutes. It's not a matter of knowing how. It's a matter of malice, self-interest, and greed--that which saturates Washington. And any moron can figure that out! Those who don't merely don't want to.

[Flying Circus]

Buffet echos a plan I’ve had rolling around in my head for a couple years now. Vaporizing their power base for overspending would certainly get their attention.

Getting it past the congress critters is the big problem as they clearly would not like something that holds their feet to the fire. Writing it so they don’t find accounting loopholes to march their big spending through is another problem.

I’m uncomfortable with the potential outcomes of a constitutional convention, but it would be the only way this could happen.

[jonascord]

The major difficulty with my plan is that it presupposes an honest judiciary.

It would, thus, fail.

[School of Rational Thought]

I can solve my old age in poverty problem if Warren Buffet would just send me a blank check.

[getarope]

Action speaks louder than words, Warren. Just shut up and do it then!

[E. Pluribus Unum]

Buffet is all for raising income taxes because he already made his billions. An income tax doesn’t tax existing assets if you don’t sell them and realize a gain.

[SteamShovel]

I could end the deficit in 5 minutes.

Big words of nothing coming from a person who is in this for himself and nobody else.

He'd get government to take us all to the cleaners if he could.

[lone star annie]

Shut up you bitter old fart. Move to another country please and take your money with you.

[Cowboy Bob]

Here's an idea: Confiscate the wealth of all the millionaires/billionaires (Buffett and Soros, etc.) who voted for Obama, and use this to help pay down the deficit...

[DeFault User]

invent a motor that runs on water vapor.

Here 'tis.

[arrogantsob]

Uh, sorry Warren but that stupid idea does not pass constitutional muster not that you care. It would require an amendment to put this idiocy into place.

But what can you expect from a supporter of Urkel?

[arrogantsob]

So you throw out the good with the bad? Brilliant, simply brilliant.