> 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.
Incentives matter, but this incentive would attract candidates who don't want re-election, perhaps old and sick people who expect to die or retire.
Also, how do you measure GDP? Whenever someone drinks a pint of whiskey at the bar, then drives home and kills other motorists, the whiskey sold, car fix-up costs, ambulance and hospital fees, insurance and re-insurance premiums, prison costs, and court settlements all contribute to "GDP", even though real quality of life has gone way down.
And of course any law passed can be repealed by the same margin.
Incentives matter, but this incentive would attract candidates who don't want re-election, perhaps old and sick people who expect to die or retire.
Also, how do you measure GDP? Whenever someone drinks a pint of whiskey at the bar, then drives home and kills other motorists, the whiskey sold, car fix-up costs, ambulance and hospital fees, insurance and re-insurance premiums, prison costs, and court settlements all contribute to "GDP", even though real quality of life has gone way down.
And of course any law passed can be repealed by the same margin.