In the Fortune article “Elon Musk Endorses Warren Buffett’s ‘5-Minute Plan’ to Fix the National Debt,” Elon Musk backed a proposal originally suggested by Warren Buffett to reduce the US deficit, reports Jacqueline Munis.
Buffett’s idea would bar all members of Congress from reelection whenever the federal deficit exceeds 3% of GDP. Musk praised the proposal on X, while supporters argue it could force fiscal discipline as the national debt approaches $40 trillion.
Critics, however, question whether the idea would be constitutional or practical during economic downturns.
