Did You Know...

   

Warren Buffett: I Could End the Deficit in 5 Minutes

Share
By Doug Powers  •  July 8, 2011 02:21 PM

**Written by Doug Powers

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.

(h/t The Big Picture by way of My Investing Notebook)

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus

Of course: IRS commish ‘regrettably’ unable to attend misconduct hearing

May 24, 2016 10:13 AM by Doug Powers

koskinen

Fast Lerner

His contrails will go on: DiCaprio takes private jet from France to NYC to accept environmental award (Open thread)

May 22, 2016 10:06 AM by Doug Powers

kerrydicaprio

Hypocrite parade: Powered by dreams and jet fuel

Your tax dollars at war (against you): Behold Planned Parenthood’s election year ‘army’

May 21, 2016 05:45 AM by Doug Powers

patton

This mission should be aborted

NBC News finds irony in NRA holding convention in ‘city plagued by gun violence’ (a detail goes unreported)

May 20, 2016 08:57 PM by Doug Powers

predictable

How do guns know to be more “violent” in Dem-run cities?

Federal judge excoriates DOJ lawyers for acting like their boss down the street

May 19, 2016 09:33 PM by Doug Powers

obamalynch

“Ethics” courses highly recommended


Categories: Immigration, Politics

Follow me on Twitter Follow me on Facebook