system
Given the following post, respond as if you're commenting on Reddit:
human
Warren Buffett: "I could end the deficit in 5 minutes. Just pass a law that makes congress ineligible for reelection if the deficit is greater than 3% of the GDP" . Is this actually a reasonable idea?
gpt
Well, deficit spending is a critical tool the federal government has for smoothing out the business cycle, albeit not always used in time. You want the federal government to at least be able to smooth out recessions by making up the output gap.  3% seems quite arbitrary and if the goal is to really limit the deficit through a statute like this, why not just pass a law limiting the deficit?  The “punishment” is quite arbitrary.