Tuesday, October 18, 2011

The Buffet Manifesto for fixing the economy

[caption id="attachment_9911" align="alignleft" width="300" caption="Waren Buffet"][/caption]

Carol Forsloff- A recent email message advised a journalist to “forward the enclosed information to at least 20 people with whom you correspond” but for more than a million online readers of GHN, this means the information making the rounds and what a growing number of people are saying is the best idea of the century for fixing the economy and why the message needs to be communicated everywhere.

If the Congress doesn’t pass a bill on it, active conversation and public pressure might just make it happen are what the Buffet backers believe could fix the budget.  Whether it’s Occupy Portland or Occupy Wall Street, the people are looking for change.  And some say change might come a good bit faster with Buffet’s big idea.
The 26th amendment was passed in three months and eight days because the people demanded that 18-year-olds have the right to vote.  The other 26 amendments took less than a year to pass.  Article V allows for a Constitutional Convention where changes to the Constitution can be proposed.

The Convention and a law that will force Congress to act responsibly needs public action.  As for posting it on the Internet, it is already a blog on its own called “Popular Amendment” with Buffet’s proposition and the wording ot the bill in its entirety.

*Congressional Reform Act of 2011*
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.

While CNBC’s follow up of the interview mentions Buffet may have been half joking when he made the suggestion, an attorney in St. Louis, Missouri by the name of Jarrad Holst told CNBC how a bill can be enacted without the cooperation of Congress.  Under Article V of the U.S. Constitution, a "Convention for proposing Amendments" is convened when called for by the legislatures of two-thirds of the states.  A proposed amendment would then need to be ratified by the legislatures of three-quarters of the states.   That process would, however, take more than five minutes.

So here’s the rest of the story.    Citizens can demand an Article V convention, as experts say is an effective way to resolve a number of problems, including the deficit.   Anyone can begin the process or join with those already engaged in an organization designed to hold a convention and solve the many problems facing the nation.

Friends of the Article V Convention are engaged in forums and service events in order to convince people of the need for a convention, as the attorney proposed might make a difference in holding Congress accountable.

The constitution provides two methods of proposing amendments... one by the federal government and the other by states via an Article V.  But that takes citizen action, the impetus given for the original email to a journalist and this article as well.