Warning: Trying to access array offset on value of type null in phar://.../vb/vb.phar/bbcode/url.php on line 2 Buffet: Not raising debt ceiling "most asinine act ever" - DFW Mustangs

Announcement

Collapse
No announcement yet.

Buffet: Not raising debt ceiling "most asinine act ever"

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Buffet: Not raising debt ceiling "most asinine act ever"

    Exactly what I have said, there will be a dog and pony show that means nothing but they will do it....



    Warren Buffett says if Congress fails to raise the U.S. debt limit, it would be its "most asinine act" ever.  But he told shareholders today there's "no chance" lawmakers will fail to do so, despite "waste of time" debates on Capitol Hill.


    Warren Buffett: Failure to Raise Debt Limit Would Be 'Most Asinine Act' Ever By Congress
    Published: Saturday, 30 Apr 2011 | 3:45 PM ET Text Size By: Alex Crippen
    Executive Producer

    Warren Buffett says if Congress fails to raise the U.S. debt limit, it would be its "most asinine act" ever.

    But he told shareholders today there's "no chance" lawmakers will fail to do so, despite "waste of time" debates on Capitol Hill.

    While Buffett doesn't want the nation to keep increasing its debt relative to GDP, he says there's shouldn't be a legislated debt limit to begin with, because circumstances change.

    Buffett says the U.S. will not "have a debt crisis of any kind as long as we keep issuing our notes in our own currency." Inflation resulting from a "printing press" approach, however, is a serious threat.

    Charlie Munger's view: the political parties are competing with each other to see who can be the most stupid, and they keep topping themselves.

    If the debt limit is not raised, the government would run out of money, forcing a significant shutdown.

    The current $14.3 trillion limit expires on May 16, although the administration has said it will be able to juggle some funds so that a shutdown would not happen immediately.
    Originally posted by racrguy
    What's your beef with NPR, because their listeners are typically more informed than others?
    Originally posted by racrguy
    Voting is a constitutional right, overthrowing the government isn't.

  • #2
    What happens if we meet the limit anyway?
    Originally posted by MR EDD
    U defend him who use's racial slurs like hes drinking water.

    Comment


    • #3
      Originally posted by ceyko View Post
      What happens if we meet the limit anyway?
      Government can't borrow any more. They can only spend what they take in.
      Originally posted by racrguy
      What's your beef with NPR, because their listeners are typically more informed than others?
      Originally posted by racrguy
      Voting is a constitutional right, overthrowing the government isn't.

      Comment


      • #4
        Keep raising, keep spending, keep printing...

        Comment


        • #5
          the reserve printed another 500 billion in the past 6 months, good freaking lord

          Comment

          Working...
          X