Buffett's Deficit Plan: Disqualify Congress Members if Deficit Too High

Warren Buffett proposed a plan in 2011 to eliminate the U.S. deficit by passing a law disqualifying members of Congress from re-election if there is a deficit over 3% of GDP

Buffett argued fiscal responsibility is vital to maintain the U.S.'s creditworthiness, drawing parallels to personal finance

The proposal highlighted the conflict of interest for lawmakers to make financially responsible decisions that could end their careers

Over a decade later, the deficit has grown larger, making Buffett's satirical suggestion seem prescient

Though not a serious policy proposal, Buffett emphasized political decision-making incentives and the need for accountability on fiscal management