Sunday, May 5, 2013
Warren Buffett on Washington Politics: It's Tough to Watch, It's Gotten More and More Partisan
(ABC) During an interview on "This Week," Berkshire Hathaway chairman and CEO Warren Buffett this morning bemoaned the political gridlock in Washington, telling chief business and economics correspondent Rebecca Jarvis that it is "tough to watch." "It's tough to watch what happens in Washington. It's gotten more and more partisan, but now so many elections are determined by the primaries and not the November elections, that it does tend to push both sides to the extremes and to cause them to dig in and feel that they can't bend from positions 'cause they'll get primaried." Buffett, an iconic investor, also weighed in on the economy, saying it has improved since the recession of 2008, but made no predictions about where the stock market is headed. "I think to some extent it takes time. We've had a lot of fiscal stimulus. We've had an extraordinary amount of monetary stimulus. And I think those were the right things to be doing, considering the incredible situation that existed in 2008. I generally approve of what the latter stages of it hit, what the Bush administration did. I approve of what the Obama administration has done. Nothing is perfect, but we had some huge problems in 2008, and our country is doing reasonably well coming out of that. It's a lot slower than people would like, but it was a lot bigger problem than any of us had ever seen," he said.