Warren Buffett As early as 2011, bold demands were put forward for CNBC. He said he could solve the U.S. deficit in five minutes. What is his idea? Make sure politicians actually feel the consequences of their spending habits.
“You just have to pass a law that any time the deficit is more than 3%, no MPs are eligible for re-election,” Buffett said. He laughed, but his point is clear: politicians are not addressing the deficit because they don’t really power. “The more effective threat is to say, ‘If you can’t finish it, we’ll find some other people to do it.'”
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About 14 years later, the deficit isn’t just stuck – its swelling sound is irritated. In 2011, U.S. debt was approximately $14.3 trillion. As of 2025? It has now exceeded $36 trillion, with an annual deficit expected to be $2.84 trillion. If Buffett thought Washington was reckless in 2011, what would he say now?
President, no one saw the action at that time Donald Trump– Replaced in 2024 – Working with Billionaire Elon Musk Swinging in government inefficiency. Their newly formed government efficiency ministry aims to reduce federal spending to July 4, 2026.
Dodge, led by Musk himself, has begun to cut budgets, focusing on plans under agencies such as the United States Agency for International Development and the Department of Health and Human Services. So far, they reported savings of $55 billion, which is their huge goal, but that’s only four weeks.
Trend: Can you guess how many Americans have successfully retired and saved $1 million? Percentage may shock you.
Trump never shys away from bold claims, praising Musk as the smartest man in the job. But not everyone believes it. Conservatives are torn apart – some like the positive of cutting costs, while others point out that the main rights plans that make up most of federal spending are still unaffected.
Buffett’s plan is simple, but ruthless: keeping politicians personally responsible for the running deficit. But in reality, Congress will never pass such a law because it means voting is out of control.
In a 2011 CNBC article, a lawyer pointed out that there is a legal loophole that can be achieved. Under Article V of the U.S. Constitution, two-thirds of state legislatures can call for an amendment to a convention. If three quarters of states approve it, it will become law without Congress’ approval. But, as the lawyer points out, the chances of this happening will be slim and the process will be longer than “five minutes.”
