Wednesday, November 2, 2011

Buffett's Solution: Term Limits

I received this in an e-mail from a friend (yes - i do have a friend)  and damn if it doesn't sound right to me.  I have always said (and posted) that term limits on Congress would be the way to insure the elected worked for the country and not for their own re-election.

Buffett's solution

Warren Buffett, in a recent interview with CNBC, offers 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 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.

Warren Buffet is asking each addressee to forward this email to a minimum of

twenty people on their address list; in turn ask each of those to do


In three days, most people in The United States of America will have the

message. This is one idea that really should be passed around.

*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


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


7. All contracts with past and present Congressmen are void effective


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.

If each person contacts a minimum of twenty people then it will only take

three days for most people (in the U.S. ) to receive the message. Maybe it is


Posted by
the Ol'Buzzard


  1. Yes, but see, this is common sense at work. Hence, the reason it will never see the light of day in congress. But, I got this and passed it on, nevertheless.


COMMENT: Ben Franklin said, "I imagine a man must have a good deal of vanity who believes, and a good deal of boldness who affirms, that all doctrines he holds are true, and all he rejects are false."