Elon Musk Backs Warren Buffett’s 5-Minute Plan to Fix America’s $39 Trillion Debt

Tesla CEO Elon Musk has backed Warren Buffett’s five-minute plan to fix the U.S.’ national deficit problem. Buffett is among the most successful investors who now has the support of Musk for the plan he revealed in 2011.

The 95-year-old chairman of Berkshire Hathaway told his quick plan to eliminate the deficit on CNBC. He confidently said that he could end the deficit in just five minutes. According to his plan, “you just pass a law that says that any time there’s a deficit of more than 3% 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?”

He further added, “So, it’s capable of being done. And they’re trying to use the incentive now that we’re going to blow your brains out, America, in terms of your debt-worthiness over time. And that’s being used as a threat. A more effective threat would be just to say, ‘If you guys can’t get it done, we’ll get some other guys to get it done’.”

Musk reshared a post asking, “Would you support this amendment?” along with Buffett’s resurfaced clip on X. He wrote, “This is the way.”

The current debt stands at a whopping $39 trillion. During the Civil War, America‘s debt reached $2 billion in 1865. The debt is expected to pass the $40 trillion mark in the near future, prompting the need for such solutions. So far, the debt has only grown over the years, and no real solution has been implemented.

Many agreed to the idea and shared their opinions in the comments. However, several users were also skeptical about the plan. One X user wrote, “would support this common sense amendment. It is a good way forward.” Another one posted, “Both parties would be on the hook. Maybe that’s what America needs. Accountability.”

One user did not believe in this solution and wrote, “This is a fantasy – why would any majority in congress vote for it? Are we just pretending that reality and incentives don’t matter anymore? I get that DC is a black pill, for sure, but it’s still the current reality. Ignoring it isn’t gonna get us out of this mess.” One more asked, “Can they pull it off?”

“If this amendment passed, 90% of Congress would be out of a job overnight. No more spending trillions with zero accountability. No balanced budget? No reelection. Should we make this law?” wrote another one.

Over the years, Buffett has given tips to people to plan their finances better and not be stuck in debt. He said, “The idea of trying to borrow money at 18% [or more] and thinking you’re going to get ahead in life—it isn’t going to work.”

Some people swear by his debt-avoidance rule. So even if his plan to fix the national debt sounds impossible to many, it may have some real impact.