Wednesday, November 21, 2012

What Incentive

There is no medicine like hope, no incentive so great, and no tonic so powerful as expectation of something better tomorrow.” -Orison Swett Marden

Did Warren Buffett really say he could end the U.S. Federal government deficit in five minutes?

In a July, 2011 interview on CNBC he did in fact say that "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 re-election."

Now the idea of passing a 28th amendment or a Congressional Reform Act did not come from Warren Buffett. What he went on to say is something I believe is the point. Warren said, "Now you've got the incentives in the right place, right? So it's capable of being done."

All of us do things in life based upon some level of incentive. We get up in the morning because we want to go to work to earn money, to pay for the nice home we live in. We prepare a meal because we are hungry. We kiss and hold the hand of our spouse because we have a need for love. We sit on the beach watching waves pour into the beach for we want relaxation. We do all sorts of things based upon the incentive of what we will receive.

What is your incentive for accomplishing great things in life?

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