Elon Musk supports Warren Buffett's plan to disqualify Congress members if deficit exceeds 3% GDP

From Yahoo Finance: 2025-06-10 11:11:00

Warren Buffett’s 2011 idea to disqualify all sitting members of Congress if the deficit exceeds 3% of GDP is gaining attention again. Utah Senator Mike Lee is drafting a constitutional amendment based on this concept to combat inflation and excessive government spending. Economists link inflation to overspending, emphasizing the need for fiscal accountability. Despite the slim chances of implementing Buffett’s fix, individuals can take steps to improve their financial health by tracking expenses, reducing costs like car and home insurance, and exploring alternative sources of income. The idea of linking job security to fiscal health faces challenges, highlighting the need for personal financial responsibility. Looking for a way to make money with minimal effort? Passive income may be the answer. One popular method is through real estate, where rental properties can provide a steady cash flow. Platforms like Arrived allow you to invest in shares of rental homes with as little as $100, without the hassle of property management. Another option is Homeshares, offering accredited investors access to the $35 trillion U.S. home equity market. With a minimum investment of $25,000, investors can gain exposure to owner-occupied homes in top U.S. cities with target returns ranging from 14% to 17%.



Read more at Yahoo Finance: Elon Musk backs Warren Buffett’s proposal to ‘end the deficit in 5 minutes’ as the bold idea gains steam again