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Failing to Raise U.S. Debt Ceiling Would Be ‘Most Asinine,’ Buffett Says

Posted By admin On May 1, 2011 @ 5:23 am In Money Watch | Comments Disabled

Margaret Collins and Noah Buhayar
Bloomberg [1]
May 1, 2011

Billionaire Warren Buffett said it would be “most asinine” if U.S. lawmakers keep the debt ceiling, rather than lift it to allow more borrowing.

“We’re a growing country, and we’re going to have a growing debt capacity,” Buffett said today at the annual meeting of his Berkshire Hathaway Inc. “In my view, there’s no chance that they don’t increase the debt ceiling.”

Congress is facing a vote as early as next month on raising the $14.3 trillion ceiling. Republicans are demanding spending cuts as the price of their vote to allow the U.S. to go further into debt. Treasury Secretary Timothy F. Geithner has said inaction on the ceiling would be “irresponsible” and raise questions about the country’s commitment to meeting obligations to bondholders.

Buffett, 80, is Omaha, Nebraska-based Berkshire’s chairman, chief executive officer and largest shareholder and was a supporter and adviser to President Barack Obama, a Democrat, during his campaign for the White House.

Full article here [1]

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Failing to Raise U.S. Debt Ceiling Would Be ‘Most Asinine,’ Buffett Says  161008pptv3 [3]


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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2011-04-30/buffett-says-keeping-u-s-debt-ceiling-would-be-most-asinine-.html

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://prisonplanet.tv/

[4] House Dem Leader Urges Obama to Raise Debt Ceiling Without Congressional Approval: http://www.prisonplanet.com/house-dem-leader-urges-obama-to-raise-debt-ceiling-without-congressional-approval.html

[5] White House Defends Obama’s Senate Vote against Raising Debt Ceiling But Warns of Catastrophe If GOP Doesn’t Raise Debt Ceiling: http://www.prisonplanet.com/white-house-defends-obama%e2%80%99s-senate-vote-against-raising-debt-ceiling-but-warns-of-catastrophe-if-gop-doesn%e2%80%99t-raise-debt-ceiling.html

[6] Don’t Raise the Debt Ceiling!: http://www.prisonplanet.com/dont-raise-the-debt-ceiling.html

[7] Pelosi urges Obama to sidestep Congress, use 14th Amendment to raise debt ceiling: http://www.prisonplanet.com/pelosi-urges-obama-to-sidestep-congress-use-14th-amendment-to-raise-debt-ceiling.html

[8] FITCH WARNS: US Must Raise The Debt Ceiling By Aug 2, Or Risk Losing Its AAA: http://www.prisonplanet.com/fitch-warns-us-must-raise-the-debt-ceiling-by-aug-2-or-risk-losing-its-aaa.html

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