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Wednesday 27 July 2011

How to solve the US deficit problem

“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.”

Warren Buffett 7/8/11


Thanks to Theo Spark for the spot.

1 comment:

Mark Williams said...

Trouble is, "you" couldn't pass a law on your own. It takes 2 sides of the parliament/Senate/Congress to agree on an acceptable budget/deficit.

We are not going to get a resolution on this until people realise that it is not just about "scroungers" but also about overspending on medicine defence and a host of other public sector "services". Nothing wrong with the services provided, but people should expect to be paid 30% less for what they do.