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Congress doesn't understand compromise
Surely all but the most right- and left-wing individuals would agree that some give-and-take is required to get our federal financial house in order. Most would understand if their Congressional representative gave in a little for the greater good of the nation, which simply can't keep racking up the type of debt we have now.
The best line I've read about this whole situation is one from an interview Warren Buffett gave CNBC last year.
"I could end the deficit in five minutes," the billionaire investor told CNBC's Becky Quick. "You just pass a law that says that any time there is a deficit of more than 3 percent of GDP, all sitting members of Congress are ineligible for re-election."
That proposal would truly force members of Congress to get into a room and start negotiating rather than holding press conferences to spout rhetoric and blame the other side for the country's fiscal woes.
The result would be a compromise that nobody loves but everyone can live with. Kind of like we all do every day with our personal finances.
Staff reporter Bill Freehling writes this biweekly column on business, personal finance and investing. He can be reached at 540/374-5405 or bfreehling@ freelancestar.com.