The Mudcat Café TM
Thread #115883   Message #2703881
Posted By: Greg F.
19-Aug-09 - 01:14 PM
Thread Name: BS: Popular Views: the Obama Administration
Subject: RE: BS: Popular Views: the Obama Administration
And do read the WHOLE op-ed piece, folks.

Here's a few quotes from Buffett that Sawz apparently missed:

"Here, the United States is spewing a potentially damaging substance into our economy — greenback emissions.
To be sure, we've been doing this for a reason I resoundingly applaud... A meltdown, though, was avoided, with a gusher of federal money playing an essential role in the rescue. The United States economy is now out of the emergency room and appears to be on a slow path to recovery."

"With government expenditures now running 185 percent of receipts, truly major changes in both taxes [emphasis mine]and outlays will be required."

"I want to emphasize that there is nothing evil or destructive in an increase in debt that is proportional to an increase in income or assets. As the resources of individuals, corporations and countries grow, each can handle more debt. The United States remains by far the most prosperous country on earth, and its debt-carrying capacity will grow in the future just as it has in the past."

And, for the record, the title of Buffett' piece is "The Greenback Effect", not "We're Gonna Be Crushed...."