Warren Buffett: 'Disruptive' Debt Limit Debates Are 'Waste of Congress's Time'
Thanks to Matt for passing this along.
As the White House and Congress continue to fight over raising the nation's debt limit, Warren Buffett says it would be better if the U.S. didn't have one at all.
Speaking to NBC's Kristen Welker at the White House today, Buffett said an "artificial" limit of the nation's debt is "disruptive" in Washington.
"All it does is slow down a process and divert people's energy, causes people to posture. It doesn't really make any sense ... To have this artificial limit, which always gets raised in the end, disrupt the activities, in an important way, of Congress, periodically, I think is a waste of Congress's time."
He's not alone. Today the credit rating agency Moody's suggested that eliminating a statutory limit on government debt would help ease uncertainty among bond holders.
Buffett was at the White House today with Bill Gates to speak with President Obama about their Giving Pledge project.
In the brief NBC interview after that meeting, Buffett said he encouraged Obama to continue to push for "something very big."
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