Category Archives: Media

Warren Buffett Fixes Congress! (Part 1: Ending the Deficit in 5 Minutes)

Another email chain-letter landed in my inbox today, just like the one I got in July. Back then, I was too busy to post anything about it. But, now, with “fiscal-cliff” disinformation running high, it’s a good time to comment.

The email quotes Warren Buffett as recommending a law that would make all sitting members of Congress ineligible for re-election whenever the federal deficit tops 3% of GDP. Then it quotes a proposed Congressional Reform Act of 2012. Or is it a proposed constitutional amendment? It’s not clear. Finally, it says Buffett is asking everyone to forward the email to twenty people on their mailing list.

Of course, with the endorsement of Warren “Oracle of Omaha” Buffett, who could object?

But an almost identical email has been circulating since 2009, pushing the same legislation labeled each year as the reform act of 2009, 2010, and so on. None of these earlier versions even mentions Warren Buffett. Buffett had nothing to do with the current email and certainly did not say you should pass it on. This much of the story is well documented (e.g., here and here).

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