Warren Buffett says that not raising the debt ceiling is like unleashing poison gas
Billionaire investor Warren Buffett warned Wednesday that failing to raise the debt ceiling would be like unleashing poison gas and a political weapon that should not be used.
If it does happen, its a pure act of idiocy. You might say that the threat to not raise the debt ceiling after youve already spent the money is, its really a political weapon of mass destruction, the Berkshire Hathaway CEO said on CNBCs Squawk Box on Wednesday. There are certain weapons that are just improper to use against humanity. And to use this against the American public, it is a political weapon of mass destruction, and both sides should say were not going to touch it, just like with poison gas, just like with nuclear weapons. Its too powerful.
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Buffett said Washington, D.C., is a mess and should listen to advice he gave his children when they were young: It takes 20 years to build a reputation and 20 minutes to ruin it.
Weve been building a reputation for proper fiscal behavior, with our currency at least, for 237 years, Buffett said. So to give up, or to do anything to damage the 237 years of good behavior is idiocy, and I dont think it will happen.
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http://www.politico.com/story/2013/10/warren-buffett-debt-limit-default-budget-98382.html?hp=r1