Buffet's Idea to Fix Debt Crisis

Good morning and welcome to the Bottom of the News!  Thought I would present an idea I learned about from Warren Buffett, who was recently interviewed on CNBC...

"I could end the deficit in 5 minutes. Pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."

The 26th amendment (granting right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it in 1971; before computers, e-mail, cell phones, etc. Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land... all because of public pressure.

Here is one idea to consider to present to the US people.

*Congressional Reform Act of 2011*

1. No Tenure / No Pension. A Congressman collects a salary while in office
and receives no pay when they are out of office.

2. Congress (past, present & future) participates in Social Security. All
funds in the Congressional retirement fund move to the Social Security
system immediately. All future funds flow into the Social Security system,
and Congress participates with the American people. It may not be used for
any other purpose.

3. Congress can purchase their own retirement plan, just as all Americans
do.

4. Congress will no longer vote themselves a pay raise. Congressional pay
will rise by the lower of CPI or 3%.

5. Congress loses their current health care system and participates in the
same health care system as the American people.

6. Congress must equally abide by all laws they impose on the American
people.

7. All contracts with past and present Congressmen are void effective
1/1/12.

The American people did not make this contract with Congressmen. Congressmen
made all these contracts for themselves. Serving in Congress is an honor and should NOT be a career. The Founding Fathers envisioned citizen legislators, so ours
should serve their term(s), then go home and back to work.

If you pass this along to everyone you know, then it will only take a few days for most people (in the U.S.) to receive the message. Maybe it is time.

THIS IS HOW WE FIX CONGRESS!  So, what do you think?  And this is the bottom of our news on this Friday, November 18th, 2011.

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A Time to Honor our Veterans

On the 11th hour of the 11th day of the 11th month of 1918, an armistice, or temporary cessation of hostilities, was declared between the Allied nations and Germany in the First World War, then known as "the Great War." 

Commemorated as Armistice Day beginning the following year, November 11th became a legal federal holiday in the United States in 1938. In the aftermath of World War II and the Korean War, Armistice Day became Veterans Day, a holiday dedicated to American veterans of all wars.  

To learn more about the history of Veteran's Day watch here...

The History of Veteran's Day - The History Channel

To all of those who have served and to the families of those who paid the ultimate sacrifice, we say THANK YOU!  As Americans we know that freedom is NOT free!  And this my friends is the bottom of the news on this Veteran's Day, November 11, 2011.

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The Message that Launched a Career!

Good morning everyone and welcome to the bottom of the news. 

Most of you know about Barbara Walters and her very successful TV broadcasting career.  Today she is the host of 'The View' on daytime television.  But there is a little known fact event that could have prevented her illustrious TV career from happening. 

As the host of ABC’s 20/20, Walters was a fast up and comer in TV land, becoming the very first woman network news anchor and this was after a short stint on a local station.  A few of her local stories attracted national attention and so a network exec decided to give her a shot at the big time.  Unfortunately, many people did not like that move.

Keep in mind for a local TV news person to become a network anchor is like a pro football player making it to the Super Bowl.  And for years network anchor positions were held by men, including such greats as Chet Huntley, David Brinkley, Howard K. Smith and Walter Cronkite.  Most thought Walters could not measure up and they were not happy when she became the first woman anchor.

And there was more.  Walters became the highest paid anchor ever, man or woman, earning over $5 million dollars annually!  Again, instant reactions were negative and media execs were outraged.  One publisher wrote… “No one deserves that kind of money for sitting behind a desk and reading what someone else writes, especially a woman.” 

Another media exec said, “We’ve heard the woman cannot read and it sounds like she talks with a lisp.”  Wow, not fun.  And it wasn't for Walters because there were hundreds of critics who were far more vocal than her supporters.  Many in the TV industry believed the world was not ready for a woman network anchor. 

Walters became depressed, down and felt totally isolated.  She was ready to quit until one night when she received a telegram. The timing was perfect.  It was a one sentence note that said… “Don’t let the bastards get you down!” 

And guess what, it worked.  It gave her the courage to go on.  But the real surprise was who the telegram came from.  Walters would have never guessed that this guy would offer her support, especially since she thought he was one of the world’s biggest male chauvinists on the planet.

Barbara Walters almost quit, until she received a telegram.  And the man who provided that note of encouragement and support was the one and only… John Wayne!  That's right, the Duke, John Wayne.  Walters was forever grateful regarding this little known fact.  It was a moment that launched her career. 

And that my friends is the bottom of the news for this Friday, November 5, 2011.  Have a great weekend!

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