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Date: 07/08/11 12:00 PM

48 Responses to Warren Buffett: I Could End The Deficit In 5 Mins.

  1. Profile photo of fancylad
    fancylad Male 30-39
    18499 posts
    July 8, 2011 at 11:56 am
    Link: Warren Buffett: I Could End The Deficit In 5 Mins. - American Gazillionaire Warren Buffet knows how to end the United States` massive deficit. I think it would work, too.
  2. Profile photo of
    Northernwolf
    304 posts
    July 8, 2011 at 12:07 pm
    Debate in 3...2...1
  3. Profile photo of tobyvictory
    tobyvictory Male 70 & Over
    407 posts
    July 8, 2011 at 12:12 pm
    Massive spending in the last TWO years. BS!!! How about the last TEN years!?
  4. Profile photo of msieg007
    msieg007 Male 18-29
    2035 posts
    July 8, 2011 at 12:13 pm
    Omaha, NE. Represent, Warren.

    He had some good points too.
  5. Profile photo of elderban
    elderban Male 30-39
    390 posts
    July 8, 2011 at 12:21 pm
    Just because you have a lot of money doesn`t mean you`re a smart person. Donald Trump got most of his money by screwing people over. I`m sure Buffet did the same. Money doesn`t make a person either. A man that knows how to survive without money is richer than the richest man in the world. Why? He`s not dependent on it. If the stock market tanked, Buffet would be on the streets with the rest of the people on Wall Street.
  6. Profile photo of skypirate
    skypirate Male 18-29
    2346 posts
    July 8, 2011 at 12:32 pm
    sounds like a solid plan. lets give it a whirl
  7. Profile photo of auburnjunky
    auburnjunky Male 30-39
    10339 posts
    July 8, 2011 at 12:39 pm
    "Massive spending in the last TWO years."

    Debt when Obama took office = 2 trillion.
    Debt 2 years later = 14 trillion.

    So yeah. Massive spending in the last 2 years.
  8. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36191 posts
    July 8, 2011 at 12:50 pm

    @ auburnJ

    the initial jump in the defecit when Obama took office was because he added all the things to the budget GeorgieBoy didn`t. Like the cost of 2 wars that was never accounted for in the budgets, etc. I don`t think it fair to blame that on big-O {not Oprah}

    Since then, Yes, more and more spending which is his.
    Well, actually the Congres writes the budget. The President just gets to tweak it a little.
    Blame them.
  9. Profile photo of Pooptart19
    Pooptart19 Male 18-29
    2442 posts
    July 8, 2011 at 12:55 pm
    Just because you have a lot of money doesn`t mean you`re a smart person. Donald Trump got most of his money by screwing people over. I`m sure Buffet did the same. Money doesn`t make a person either. A man that knows how to survive without money is richer than the richest man in the world. Why? He`s not dependent on it. If the stock market tanked, Buffet would be on the streets with the rest of the people on Wall Street.
    I smell a bitter douche.
  10. Profile photo of DrProfessor
    DrProfessor Male 18-29
    3894 posts
    July 8, 2011 at 1:10 pm
    I love Warren Buffett.
  11. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14273 posts
    July 8, 2011 at 1:14 pm
    Oh here`s an idea Warren if you`re so concerned. Stop talking and donate a chunk of your huge fortune to do something.
  12. Profile photo of Snowlock
    Snowlock Male 18-29
    25 posts
    July 8, 2011 at 1:15 pm
    "Just because you have a lot of money doesn`t mean you`re a smart person. Donald Trump got most of his money by screwing people over. I`m sure Buffet did the same. Money doesn`t make a person either. A man that knows how to survive without money is richer than the richest man in the world. Why? He`s not dependent on it. If the stock market tanked, Buffet would be on the streets with the rest of the people on Wall Street"

    I smell a redneck
  13. Profile photo of bliznik
    bliznik Male 30-39
    787 posts
    July 8, 2011 at 1:35 pm
    @auburnjunky: where did you get those numbers from? The debt in 2009 was at 12 trillion

    I agree that Congress is the problem, both Dems and Reps, although Reps are worse than Dems b/c they`re not proposing any viable solutions. Dems are just proposing bad solutions. The worst part is that good solutions have already been implemented, but Congress prevents them from being enacted. If Congress does NOTHING (allows Bush tax cuts to expire as planned, allows HCR rules to cut healthcare costs as planned, etc.) the budget would be balanced (but the constituents would be unhappy)
  14. Profile photo of clancy54
    clancy54 Male 18-29
    83 posts
    July 8, 2011 at 1:37 pm
    Warren Buffet is a very respectable person. I had the privilege of getting to talk to his grandson for a while this summer at Boys State. To the person who said "Oh here`s an idea Warren if you`re so concerned. Stop talking and donate a chunk of your huge fortune to do something." You do realize that he is giving his own children very little money and has instead set up many foundations and has donated so much to charity. When he dies he is giving like 90% to charity. So I`d say his money is tied up in much better places than giving it to the government.
  15. Profile photo of horror102
    horror102 Male 40-49
    108 posts
    July 8, 2011 at 1:42 pm
    bitter douche he he he funny
  16. Profile photo of CaptainPabst
    CaptainPabst Male 18-29
    1250 posts
    July 8, 2011 at 2:28 pm
    Title fail. Video is over 8 mins.
  17. Profile photo of cyborg
    cyborg Male 13-17
    2790 posts
    July 8, 2011 at 2:37 pm
    i found it hard to listen to him talk. i made in a minute
  18. Profile photo of Fatninja01
    Fatninja01 Male 30-39
    25407 posts
    July 8, 2011 at 4:03 pm
    meh...
  19. Profile photo of dork649
    dork649 Male 18-29
    11 posts
    July 8, 2011 at 4:42 pm
    tldl; Make a law that congress members don`t get paid if debt:GDP ratio > 1.03.
  20. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 8, 2011 at 6:12 pm
    You know some of things like WB not sharing his wealth pisses me off.

    However in this case he is spot on with his assertion. You can`t katow to someone who holds a gun. The USA needs to tell the Treasury to shut up, and quit being a whore to the IMF bankers. We need a president who understands a poker bluff. He needs to tell the IMF to go ahead and ruin the credit rating of the USA. Dare them! Then tell them what will happen when one of China`s and India`s largest importers of their goods tanks. Then when the Chinese economy takes a huge fall. Then the IMF Board of Director can explain to the Chinese generals and upper civilian leadership how they just f*cked their economy while having their throat cut and their family killed.

    Yep IMF just do it. Europe needs to do the same to the IMF also. Every country based on a manufacturing economy relies on a consumer base nation to buy their goods. Consumer confidence of buying is necessary. It`s that simple.
  21. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 8, 2011 at 6:13 pm
    Wake up everyone and quit letting the few elite bankers run the world. They are douche bags.
  22. Profile photo of mervviscious
    mervviscious Male 40-49
    1794 posts
    July 8, 2011 at 6:31 pm
    A very smart man...
  23. Profile photo of Palegallow
    Palegallow Male 18-29
    60 posts
    July 8, 2011 at 8:07 pm
    @Sachi What is wrong with Warren Buffet keeping his money? Is there some sort of unwritten law that when a person becomes rich, they must give away their money?..
  24. Profile photo of simbha
    simbha Male 30-39
    412 posts
    July 8, 2011 at 9:14 pm
    @auburnjunky:
    "Debt when Obama took office = 2 trillion.
    Debt 2 years later = 14 trillion."

    From where are you getting these figures? The audited figure for fiscal year 2009 (the year Obama took office) was $11.898 trillion. The audited figure for fiscal year 2010 (2011 isn`t over yet) was $13.551 trillion. An increase, yes - but nowhere near what you`ve indicated.
  25. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 8, 2011 at 9:16 pm
    @Palegallow
    Nothing wrong with keeping some money for yourself and family. However his riches are obscene. He could do more than just turn over some to the Gates Foundation. He could help against Human slave trafficking or those who need life saving medical treatment that can`t afford such costs etc...

    He is a net worth of 45 billion and is 80 years old. I mean come on! You mean to tell me someone can`t live on a Billion let alone a 100 million? What`s he waiting for? He`s not got a long life left, and he`s not gonna take it with him. He already said he`s not leaving it for the children. Do some freaking good with it. He just hangs on to his wealth just for spite. That just pisses me off when your blessed with such and horde.
  26. Profile photo of jamie76
    jamie76 Male 30-39
    2346 posts
    July 8, 2011 at 11:04 pm
    Sachi001,

    He`s turning over nearly 80% of his wealth...what else do you want? The gates foundation does amazing work around the world and is far more effective than most other NGO`s.
  27. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 1:16 am
    @jamie76
    WB gave 30 billion to the Gates foundation in 2006 and some to other charities. In 2011 by Forbes he has amassed still 50 Billion.



    Now you cannot tell me honestly that living on 1 billion is not enough? He can give the rest away now, and do some good for others then wait until he kicks the bucket. Heck he may live another 20 years. Meanwhile kids are enslaved by warlords in the Ivory Coast to pick Cacao for your Snickers bar as young a 5. How about 12 year girls kidnapped. Forced into prostitution in Mexico such a Tijuana, so drunk ass college frat boys scour over the border to get laid for $20.00 per hour.

    You want me to go on a rant. Dumbass greedy retards just don`t get it do ya! Moral social responsibilities because he built his wealth on the backs of others sweat, so he freaking owes big time.

    http://www.for
  28. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 1:17 am
    The same goes for all thise asswipes on that Forbes list.
  29. Profile photo of xCYBERDYNEx
    xCYBERDYNEx Male 18-29
    4903 posts
    July 9, 2011 at 2:33 am
    @Sachi001
    Warren Buffett-
    "I don`t have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It`s like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GDP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don`t do that though. I don`t use very many of those claim checks. There`s nothing material I want very much. And I`m going to give virtually all of those claim checks to charity when my wife and I die."

  30. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 3:25 am
    Still clueless about life huh?
  31. Profile photo of Cajun247
    Cajun247 Male 18-29
    10722 posts
    July 9, 2011 at 5:54 am
    I didn`t hear any real solutions.
  32. Profile photo of ukulelemike
    ukulelemike Male 40-49
    129 posts
    July 9, 2011 at 8:40 am
    His argument of comparing the current conditions to after WW2 are completely false-not necessarily in the numbers, but in the conditions of the nation-at that time we had far more freedoms that encouraged entrepreneurship, which helped the nation get back on their feet-we could grow and sell our own produce and meat and mile and eggs, we could open stands on the street, we could do all kinds of things that helped the individual make money, which helped the nation as a whole. Today, the government restrictions are so severe that we can no longer do this, without meeting massive financial requirements, paying fees for licenses and permits, endless inspections by government agencies, environmental concerns and the like. We have been regulated out of the ability to fix the economy, and so everyone expects the government to fix it all, since they have taken away our rights to do so. No more life, liberty and pursuit of happiness, unless it is government approved.
  33. Profile photo of 5Cats
    5Cats Male 50-59
    31771 posts
    July 9, 2011 at 8:52 am
    After WW2 the government allowed INFLATION to rise, thus effectively lowering the amount of debt over a few years. A 1945 dollar was borrowed, but in 1950 it was paid back at $0.75 or less.

    Run a deficit and not be allowed to get re-elected? Sounds GOOD to me!
  34. Profile photo of Tekinette
    Tekinette Male 30-39
    273 posts
    July 9, 2011 at 11:31 am
    I can end the deficit in 5 min aswell, doing it without ruining the entire economy is another thing...
  35. Profile photo of Zeegrr60
    Zeegrr60 Male 40-49
    2105 posts
    July 9, 2011 at 12:29 pm
    I can solve it in one second.It`s called "military cuts"
  36. Profile photo of T-Marley
    T-Marley Male 70 & Over
    602 posts
    July 9, 2011 at 12:30 pm
    Sach, I mean come on! Envious much? He earned his money, and gives swaths of it away. He has given more money than most of us have made in our lives to date. Who are you to judge him? Because he is successful he is responsible for fixing all the problems in the world? You think if he gives 10bill to Mexico to stop human trafficking that money will make it to the victims?

    For all of those hating Mr. Buffet because of his success, do us a favor: Go make 50 billion and give it away, then you have a right to tell them how to spend their money. Also net worth is not liquid cash.

    Everyone has the ability to accumulate wealth, stop expecting other rich people to do it for you. How many success stories start in poverty? Lincoln. Gates. Ford. Edison. JK Rowling. Schwab. The list goes on and on.
  37. Profile photo of vetteguy007
    vetteguy007 Male 18-29
    48 posts
    July 9, 2011 at 1:52 pm
    The government is almost a waste to society on its own. The government has no competition except to do whatever they want to do and they make up the rules as they go. They want to do something they make it a law. The problem with the government is that it is ran as a bureaucracy and not as a business. Business savvy guys are too smart to become involved in politics because they can make more money running their own companies. The average American trying to make a living is too busy to keep up with the government and the government takes advantage many times by passing unnecessary regulation behind the backs of unsuspecting citizens. The government is so wrapped up in spending money they can`t stop. Nobody wants to give anything up but they sure enjoy spending money. Everybody has had to tighten cut back and I wouldn`t see the government is any exception to the rule. Their reckless spending and inability to act promptly to fix the issue may have us paying for a long time.
  38. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 2:07 pm
    @T-marley
    Well brother I don`t make 50 billion,
    but if I did I would give it all as an example of Christlike Charity. Which I see many fail to grasp yet proclaim they are a follower.

    Second I do get by after giving to charity with what I have. Because like most first world countries we have a sh*t load more wealth than 40% of those sleeping on the streets of India. Next time when your playing with all your big boy toys and you could have spent maybe $500 on helping someone. I don`t need a $30k gas guzzling truck or SUV. I don`t need an XBOX. I don`t need an iPhone etc... I would rather invest in human resources. Buffet does not. He would rather cling onto it.

    When the first world hits rock bottom and goes into hyper-inflation and your broke. Then you selfish jackasses will see the light. Ingratitude to what you have blinds your soul.
  39. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 2:17 pm
    Here`s a little insight how to solve economic problems . Rather than the wealthy like WB gather the money of the taxpayer (go look where most of his income came from). Do this:

    Take the money in their local respective areas and along with the government reinvest in the human being. Such as:

    Those under making $300k or higher a year don`t qualify. Those under;
    Pay off the mortgage on the home if under $250k
    Mortgage defaults taken care of!

    Pay off the primary family car.
    Auto industry will get new orders and a resurgent and banks will not have to repo and are paid off.

    Credit Cards paid off.
    Again banks saved from defaults

    All of the above would save on banks losing out. Have income to loan and not ask the taxpayer for bailouts.

    The consumer would have money to reinvest in business by spending, be out of debt, pay better taxes, ans support charities.

    Then the wealthy could make money again off legit business
  40. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 2:22 pm
    Ah.. but no we can`t do that. Can we? We must bow to the rich who make billions off the taxpayer funded projects. Awarded through favors from Washington through contributions. All the while sucking our hard earned money to line their pockets. keeping and forcing you more and more into debt and causing you to not reinvest and be charitable. They have you simpletons fooled. Wake up you are manipulated from what it is to be in selfless service toward your fellow humans beings.
  41. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 2:22 pm
    DOne with rant sorry mods. I`m going to clean the house now.
  42. Profile photo of xCYBERDYNEx
    xCYBERDYNEx Male 18-29
    4903 posts
    July 9, 2011 at 3:08 pm
    @Sachi001 "Still clueless about life huh?"
    considering the mindless racist bullsh*t you`ve already been called on before, I find it hilarious that YOU would call anyone clueless.
  43. Profile photo of T-Marley
    T-Marley Male 70 & Over
    602 posts
    July 9, 2011 at 3:21 pm
    If you have a huge portion of credit card debt, is it the fault of the rich? If you have a house that is beyond your means, or a car that is too expensive for what you make, is it my fault?

    And if someone comes and pays all of someone else`s debts off, is it going to teach them financial responsibility? No, it is just going to enable them to go out and get more debt, and start the cycle all over again.

    While your proposal is altruistic and noble, it gives people a fish, it doesn`t teach them to fish. And while you hate on American opulence, in absolute terms the USA gives over twice as much money as the next country on the list, and that doesn`t include foreign aid, or private contributions...
  44. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 7:00 pm
    So T-Marley you idea is to horde the money and not put it back into circulation. Thus killing economic recovery. You invest to make make money for the future.

    Your idea of teaching a man to fish is right. However it`s not looked at properly. People will work they just need to see the lake stocked with fish (fish being jobs). When you horde and don`t invest then nothing prospers.

    Kids 5 years old in the Ivory Coast are taught how to do a job (fish). It`s called picking Cacao under a gun. They are not paid because the rich don`t want to invest with principle in mind. They want it all for free. Yeah they shouldn`t have to spend their hard earned money for selling you a Snickers bar.
  45. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 7:01 pm
    Yet Cyberdyne calls moi racist. When he doesn`t give a rat`s ass about a 5 year old African boy working all day for nothing and vbarely a meal.
  46. Profile photo of T-Marley
    T-Marley Male 70 & Over
    602 posts
    July 9, 2011 at 7:20 pm
    Sach, you`re right.

    Warren Buffet, that evil strong-arm dictator. If he hadn`t made himself rich those totalitarians of Africa wouldn`t have any reason to exploit their subjects...
  47. Profile photo of Sachi001
    Sachi001 Male 30-39
    599 posts
    July 9, 2011 at 8:54 pm
    Thank you for agreeing
  48. Profile photo of ImaComputer
    ImaComputer Male 18-29
    286 posts
    July 12, 2011 at 12:01 pm
    I love W.B, I happen to work for a berkshire hathaway company, and he treats his employees well, offers great benefits, and has pledged to give away 99% of his wealth by the time of his death. He`s a good guy with invaluable investment knowledge.

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