Warren Buffett warned today that Congress is playing a dangerous game with the US debt ceiling. He compared the debate over raising the debt limit to a game of “Russian roulette” with one bullet in a revolver. Refusing five times out of six to raise the debt limit might not be dangerous, he said, but the sixth time could be catastrophic.
“Youre playing with fire when you dont need to play with fire,” he said on CNBC. Buffett said Congress raised the debt ceiling seven times during George W. Bushs administration, so it would be silly not to do so now. “We dont need to tell the rest of the world that anytime people in Congress start throwing a tantrum that were not going to pay our bills.” More DC talks are set for this weekend.
Similar Posts:
- Ignore the Rhetoric: Debt Ceiling Will Be Raised
- Sen. Bob Corker of Tennessee introduces bill to cap spending
- Not Another Budget Commission!
- Bernanke proposes no new steps to boost economy
- 5 Ways to Increase Your Credit Card Limit
