Lee proposes amendment, Musk and Buffett support

Senator Mike Lee, a Republican from Utah, has proposed a constitutional amendment that would remove all members of Congress from office if the inflation rate rises above 3%. The proposal has gained support from billionaire entrepreneur Elon Musk. Lee announced his plan on social media, stating, “I’m drafting a constitutional amendment to oust every member of Congress whenever inflation exceeds 3%. It’s better to disqualify politicians than for an entire nation to suffer under the yoke of inflation.” Musk, the CEO of Tesla and SpaceX, endorsed Lee’s idea by reposting it with the comment, “This is the way,” a popular phrase from the TV series “The Mandalorian. The concept behind Lee’s proposal is not entirely new. Billionaire investor Warren Buffett had previously suggested a similar idea, saying, “I can end the deficit in five minutes. Just pass a law that says any time there’s a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for reelection.” Lee’s proposal comes amid ongoing debates about the U.S. national debt and government spending.

Lee proposes congressional removal for inflation

The senator, along with several other Senate Republicans, has expressed disapproval of President Donald Trump’s proposed spending package, which recently passed the House of Representatives and is now being considered by the Senate. Both Lee and Musk have criticized the spending package as “debt slavery,” emphasizing their concerns about fiscal responsibility and the growing national debt. Currently, the U.S. inflation rate stands at 2.31%, having been at the 3% mark when President Trump took office. Senator Rand Paul, another Republican from Kentucky, has also voiced his opposition to the proposed spending increases, highlighting the need to make the 2017 tax cuts permanent without adding to the fiscal burden. As the debate on Capitol Hill continues, the fate of Lee’s proposal and the implications of Trump’s spending package remain uncertain. The Senate is expected to vote on the spending bill in the coming weeks, with Republican leaders aiming to get the legislation to the president’s desk before the Fourth of July.