Warren Buffett: Debt ceiling should be removed
Billionaire investor Warren Buffett says the debt ceiling should be done away with, arguing it is nothing more than an “artificial limit” that ends up wasting time in Congress.
“All it does is slow down a process and divert people’s energy, causes people to posture. It doesn’t really make any sense,” the Berkshire Hathaway CEO said in an interview with NBC News on Monday afternoon at the White House. The interview followed a meeting Buffett and Bill and Melinda Gates had with President Barack Obama about charitable giving.
Buffett’s suggestion to get rid of the debt ceiling comes after bond rating agency Moody’s made the same point in a report on Monday.