Warren Buffett: Debt Ceiling Dispute Is Pretty Damn Dumb

The sage of Omaha says the market won’t fall apart over government shutdown brinksmanship because investors expect Washington to act “irrationally” for only so long.

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Failing to come to an agreement between Democrats and Republicans on raising the debt ceiling would be “pretty damn dumb,” Warren Buffet said in a CNBC interview aired Friday.

The GOP is hoping to use the looming threat of a government shutdown in the coming weeks to advance deficit-reduction plans and continue in the attempt to gut funding for the Affordable Care Act. President Obama has promised to veto any bill out of the House that attempts such a move.

Buffett pointed to health care costs as a major problem for U.S. industry, calling them “a tapeworm of American business,” but said they are “not the fault of Obamacare.”

Still, Buffett said investors won’t be too shaken by brinksmanship on the hill. “The market is not gonna fall apart, because [investors] expect Washington will only act irrationally for a certain length of time,” he said.

[CNBC]

11 comments
daridekas
daridekas

we have to listen to this man.he always knows more than we think he does.

admin2 http;//invetrics.com

reeblite
reeblite

jmac, wow, you're a walking contradiction.

curt3rd
curt3rd

"Attack the costs first, and then worry about expanding coverage. I would much rather see another plan that really attacks costs. And I think that's what the American public wants to see. I mean, the American public is not behind this bill."

"Scrap Obamacare and Start All Over."

-Warren Buffett

Realworldnonfantasyland
Realworldnonfantasyland

I believe that the homeless should have the same financial benefits that Warren Buffet does. Why hasn't he paid his fair share?? ----- The "Where's Mine?" Left

MrObvious
MrObvious

It's pretty mild mannered to call it damn dumb. There are better words to describe it and words that are common place among the people who voted for these tea party morons.

reeblite
reeblite

@curt3rd that's because it's the modified republican plan, not the original.

jmac
jmac

@curt3rd Curt3rd:   It's a fracking Republican Health Care.   The Democratic plan would have contained costs.  We have proof of a Democratic plan in America.  I've had that plan all my life - the military. 

You want a plan that contains costs like the military health care plan did over private industry? - vote Democratic.  Or put a Republican with a spine in the presidency who will work with a Democratic Congress to pass a Democratic health care plan.    Republicans have a proven historical track record that they don't worry about costs - that's why Cheney could brag that Reagan proved deficits don't matter.  

FYI:   Warren Buffett is a Democrat.  He'd LOVE a Democratic health plan.  Let's vote for one, Curt!  Change your vote and vote with Warren.  

jsfox
jsfox

You realize Warren Buffet said this way back in in the beginning before Obamcare past. Today he is a fan.

anon76
anon76

@grape_crush

It's realworld's clearest way of telling us to pay not attention to the drivel emanating from his keyboard.