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Warren Buffet proposes amendment to the Constitution

Warren Buffett, "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.

*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.

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 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.



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Where is the source?

I can't believe WB would write something that limits his ability to manipulate government this much... even though he hasn't addresed the FED/IRS Complex which is the beating heart of the beast ... debt slavery and tax bondage over every American who is not a part of the FED family of private corporations.

Not to be a stickler, but

Not to be a stickler, but that act won't end the deficit at all. Rather, it will freeze the deficit at 3%.

A sovereign default, plus an amendment stating that the congressmen that signs a loan document, are the only people bound to honor it, on the other hand, wold certainly end the deficit once and for all. While solving the debt problem as well.

Sounds good to me.

Sounds good to me.

"I'm as mad as hell, and I'm not going to take this any more!"
- Howard Beale

The argument over accurate GDP

numbers then will need to be laid out.

The Cato Institute has vastly different GDP numbers then our government.

How do we determine the GDP?

"It does not take a majority to prevail but rather an irate, tireless minority keen on setting brushfires of freedom in the minds of men."

--Samuel Adams