Not lifting United States' debt ceiling would be 'dumb': Buffett
ReutersNEW YORK--Billionaire investor Warren Buffett said that politicians not lifting the U.S. debt ceiling would be “pretty damn dumb” and viewed a prolonged political standoff on the issue as “disturbing.”
September 21, 2013, 12:07 am TWN
“The market is not going to fall apart,” Buffett said in an interview aired on CNBC on Friday, because markets will only expect politicians to act irrationally for a certain length of time.
Still, he called the possibility of such a debt standoff “disturbing.”
Some Republican legislators are calling for concessions such as defunding President Barack Obama's signature health care law in exchange for lifting the debt ceiling.
Buffett's Berkshire Hathaway Inc. owns more than 80 businesses in such areas as insurance, chemicals, railroads and clothing.