“I could end the deficit in five minutes. You just pass a law that says that any time there is a deficit of more than 3 percent of GDP all sitting members of Congress are ineligible for re-election.” So said Warren Buffett in a news interview last July.
A somewhat embroidered version also containing the interesting plan below has been making the rounds in e-mail that asks each person who receives a copy to send it on to the 20 people you know best, asking them to do the same.
If that happens, in three days a majority of American people will have the message.
Congressional Reform Act of 2012
No tenure. No pension.
A Congressman/woman collects a salary while in office and receives no pay when out of office.
Congress — past, present and future — participates in Social Security.
All funds in congressional retirement fund move to the Social Security system
Immediately. All future funds flow into this system and Congress participates with the rest of the American people.
Congress can purchase their own retirement plan, as other Americans do.
Congress will no longer vote themselves a pay rise. Congressional pay will rise with the lower of CPI or 3 percent.
Congress loses their health-care system and participates in the same health-care system as the American people.
Congress must equally abide by any laws they pass for the American people.
All contracts with past and present Congressmen/women are void effective at once.
Congressmen/women made these contracts for themselves. Serving in Congress is an honor, not a career. The founding fathers envisioned citizen legislators. Ours should serve their terms, then go home and go back to work.
Will Congress pass these laws? Not a chance. But just the thought of them is likely to spur worthwhile reforms.