Warren Buffett, in an 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
The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months and 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 (possible 28th Amendment ???)
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 12/1/12. The American people did not make this
contract with Congressmen/women.
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.