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Warren Buffett said it was ‘a mistake’ to have a debt ceiling a decade ago—here’s why

Warren Buffett said it was ‘a mistake’ to have a debt ceiling a decade ago—here’s why

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8 Comments

  1. First, we go through the budget in detail, all the spending and revenue, line by line, vote on it….

    ….then have another vote to decide if you’re going to pay the bill. Lol

  2. If you’re concerned about the debt the time to fight it is in the budget that accrues it.

    Not months later, refusing to pay for the debts after they’ve already been accrued.

    The debt ceiling solely exists as something for legislators to fight over. It serves no useful function.

  3. >In 2011, Buffett said the recurring negotiations over the ceiling and threats of default were both unnecessary and time consuming.
    >
    >“It just seems such a waste of time for a country that’s got a lot of things to do,” he said. “I’d love to see them eliminate the idea, because it results in these periodic stalemate operations where everybody uses it for posturing purposes.”

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