Buffett Says U.S. to Approach, Not Cross, Point of Idiocy – Bloomberg 10-03-13

Salient to Investors:

Warren Buffett said:

  • Congress will resolve the US debt ceiling stalemate before it seriously harms the country.
  • One second beyond the debt limit would not do us in, but if it goes a year beyond, that would be unbelievable.
  • US government bonds carry ‘the full faith and credit of the US, not ‘the full faith and credit of the US unless one political party is unhappy about some extraneous issue.’

Lloyd Blankfein at Goldman Sachs said Congress should not use the US debt ceiling for political goals.

Henry Paulson said Congress would resolve the dispute before too much damage is done to the country – “They may threaten to take mother hostage, but will never hurt her.

Read the full article at  http://www.bloomberg.com/news/2013-10-03/buffett-says-congress-to-approach-point-of-idiocy-not-cross-it.html

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