It seems that all Washington politicians want to do is spend our money to get re-elected.  That’s it – money and re-election.  So if they want to get re-elected so bad, let’s make a new rule.

The new rule is a law that says “anytime there is a deficit of more than 3% of GDP, all sitting members of Congress – and the President -  are ineligible for re-election.”

Let’s call it the 3% Law.  And let’s pass the 3% Law – that will fix their @#$!

I’d love to take credit for this idea, but honestly, my good friend Dave sent me an email with this thought.  And the email says the idea came from a quote by Warren Buffett.  The email is one of those internet chain letters you are supposed to pass around, but there is some basis of truth in it.

Researching it a bit, I found that in the Wall Street Journal, Warren did say this in July, on CNBC, in an interview with Becky Quick –  although his intent wasn’t to start a chain letter.  Other people added that part (click to see Wall Street Journal article).

And I did change the idea just a bit myself, i.e. the original idea was for Congress only.  I added the President in the mix too.  I’m thinking the number one White House executive, whoever they are, can always use a little fiscal motivation as well.

I list some other ideas from the email below.  You might warm up to them.  They call it the Congressional Reform Act of 2011, although I like the much simpler 3% Law.  Now, to get the “do-Nothing” Congress to … hmmmm … do this.  Now there’s the rub, isn’t it.

So what do you think about 3% Law?  Feel free to click the title of this post and write your comment in the box that appears below.

And have a nice day – J. Daniel

P.S. Here are some more new rules proposed in the email …

1.     No Tenure / No Pension.  A Congressman collects a salary while in office and receives no pay when they are out of office.

2.     Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

3.     Congress can purchase their own retirement plan, just as all Americans do.

4.     Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

5.     Congress loses their current health care system and participates in the same health care system as the American people.

6.     Congress must equally abide by all laws they impose on the American people.

7.     All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work. If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S.) to receive the message. Maybe it is time.

THIS IS HOW YOU FIX CONGRESS!

If you agree with the above, feel free to copy the link to this page and pass it on – http://thewoodchips.com/new-rule-for-washington-that-will-fix-their-xxx