2011- When asked how to solve the U.S. deficit, Warren Buffet responded: “You just pass a law that says that any time there’s a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for re-election.”

For those who care, here’s the video where he says this I think he’s absolutely right. Nothing gets more shit done than consequences.

www.cnbc.com/id/43670783

Warren Buffett says he could fix the U.S. deficit problem very quickly.

Here’s his not-entirely serious (but not entirely joking either) plan, as told to Becky Quick during this morning’s live interview on CNBC:

“I could end the deficit in five minutes. You just pass a law that says that any time there’s a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for re-election. Yeah, yeah, now you’ve got the incentives in the right place, right? (Laughs

h/t riversforever