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Q&A: Warren Buffett and the deficit

Buffett and the deficit

Someone sent me an article on Facebook about Warren Buffett's advice for fixing the deficit. I like it. What's the chances of it happening?

The famous Facebook post, and email, comes from a July 2011 interview on CNBC in which billionaire Warren Buffett says:

"I could end the deficit in five minutes. You just pass a law that says that any time there's a deficit of more than 3 percent of GDP, all sitting members of Congress are ineligible for re-election."

The chain letter you may have seen on Facebook or email lists several other ideas to reform Congress, none of which were suggested by Buffett, and says "Warren Buffett is asking each addressee to forward this email to a minimum of twenty people."

Buffett is a billionaire with a pretty healthy sense of humor, and he laughed when he made the comment on TV. So when his attempt at wry humor was twisted into the centerpiece of an anti-Congress screed, he set the record straight through a spokesman:

"The chain letter was not sent out by Warren, of course, nor did he in any way suggest a chain letter," the spokesman told CNBC.

"The 'five-minute deficit plan' was "not a serious proposal," the spokesman added, "just intended to emphasize the importance of proper incentives (and problems when they are absent)."

You can judge for yourself by watching the video clip here: Buffett039s_5Minute_Plan_to_Fix_the_Deficit.

A look at extradition treaties

We often see that other countries won't extradite fugitives to the United States, but does the United States extradite fugitives to other countries?

It largely depends on whether the United States has an extradition treaty in place with the country that wants a suspected fugitive returned.

The United States has such treaties with more than 100 nations, but none in place with more than 70 others.

There have been times when the United States has sent fugitives to a country it doesn't have a treaty with, but that is the exception.

Keeping Diet Coke sweet

A recent article about Pepsi stated that Diet Coke still uses only aspartame. Didn't Coca-Cola begin using Splenda recently?

Coca-Cola began selling Diet Coke with the sugar substitute Splenda in 2005, in conjunction with its regular Diet Coke line, which is flavored with aspartame. It's packaged differently than regular Diet Coke, with the words "Sweetened with Splenda" on the label with the Splenda logo. It's more difficult to find because the demand isn't as high, a Coca-Cola spokeswoman told the Atlanta Journal-Constitution.

Q&A: Xxxxxxxxx hed here

Q&A: Warren Buffett and the deficit 01/14/13 [Last modified: Wednesday, January 16, 2013 5:32pm]
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