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Right now incentives are misaligned. Politicians have no incentive to be responsible with the money. Time to implement Warren Buffett's proposal: passing a law
by umvi 3y ago
Right now incentives are misaligned. Politicians have no incentive to be responsible with the money.
Time to implement Warren Buffett's proposal: passing a law that says anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election. This would realign incentives - politicians who seek power will need to be fiscally responsible to attain it.
- qwytw 3y ago> all sitting members of Congress are ineligible for re-election Historically this was almost always a terrible idea under most circumstances. This would be even worse due to perfectly obvious reasons (just like the debt limit nonsense).
- umvi 3y agoCan you give some examples? I don't see any other viable solutions. What else will motivate congress to balance the budget than threat of losing their careers?
- flashback2199 3y agoSeems pretty braindead. They are the ones who pass the laws, so nothing would stop them from passing another law to undo it.
- semiquaver 3y agoSuch a scheme (which I don’t think would be workable in any case) could only bind Congress if it were an amendment to the constitution.
- llbeansandrice 3y agoWhy do people think that running the country like how Elon has tired to run Twitter is a good idea?