NEW YORK, Sept 20 Billionaire investor Warren
Buffett said that politicians not lifting the U.S. debt ceiling
would be "pretty damn dumb" and viewed a prolonged political
standoff on the issue as "disturbing."
"The market is not going to fall apart," Buffett said in an
interview aired on CNBC on Friday, because markets will only
expect politicians to act irrationally for a certain length of
Still, he called the possibility of such a debt standoff
Some Republican legislators are calling for concessions such
defunding President Barack Obama's signature health care law in
exchange for lifting the debt ceiling.
Buffett's Berkshire Hathaway Inc owns more than 80
businesses in such areas as insurance, chemicals, railroads and
clothing, and has well more than $130 billion of equity and
fixed income investments.
U.S. politicians look headed for a prolonged squabble over
raising the U.S. debt ceiling to allow the government to keep
borrowing money to pay its bills. That decision is expected to
come to a head later this year.
A similar impasse in 2011 cost the United States its
triple-A credit rating from Standard and Poor's.