Warren Buffett told CNBC he could end America's deficit crisis 'in five minutes.’ Would his solution still work in 2026?

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America’s deficit crisis is dominating headlines today, but the country’s most famous investor offered a solution to the problem nearly 15 years ago.

In 2011, Warren Buffett told CNBC’s Becky Quick (1) that the crisis could be resolved relatively quickly.

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“I could end the deficit in five minutes,” he said. “You just pass a law that says that any time there’s a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for re-election. Yeah, yeah, now you’ve got the incentives in the right place, right?”

But the President and lawmakers in Congress seem to have plenty of incentives to move in the other direction, and that could have long-term consequences on your personal finances. Here’s why.