Brilliant!

Here’s the latest quotation making the rounds on Facebook:

“I could end the deficit in 5 minutes,” Warren Buffett told CNBC. “You just 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.”

I hope it’s genuine, but even if it isn’t from Warren Buffett, it’s still a darned good idea.

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*Gross Domestic Product, as opposed to GNP (Gross National Product) or NNI (Net National Income) or a number of other economic factors.

For a list (three lists, actually -- take your pick) of countries by GDP (nominal), click here. Our old friend Tuvalu is 190th of 191 countries on the third list. I’m just sayin’....