The Daily Buffett

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The Price of Power

November 23rd

I could end the deficit in 5 minutes. 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 reelection.

Warren Buffett

Personal accountability can drive change. Penalties often drive people to behave differently, especially when those penalties affect something they deeply care about. For lawmakers, it's their chance for reelection.

A disconnect sometimes exists between decision-makers and the consequences of their decisions. A system where those in power can make decisions that affect millions, yet not bear the full brunt of the potential fallout, needs to be critiqued.

This challenges us as investors, and indeed as citizens, to rethink the dynamics of power, consequences, and accountability. We should consider how different our decisions might be if we were the ones to face the direct, personal consequences of our choices.

Are we taking full responsibility for our decisions or are we hiding behind a metaphorical shield of immunity?

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Copyright © 2023 by Scott Sansovich