Billionaire investor Warren Buffett on Wednesday called the U.S. debt limit a “political weapon of mass destruction” and said both political parties should pledge never to use it as leverage because of the financial damage it can cause.
As lawmakers and the White House scrambled to raise the $16.7-trillion debt limit before a Thursday deadline, Buffett said it would be asinine” for the U.S. to risk its hard-won reputation for paying its bills on time.
“There are certain weapons that are just improper to use against humanity,” he told CNBC. “It is a political weapon of mass destruction and both sides should say we’re not going to touch it, just like with poison gas or nuclear weapons. It’s too powerful.”
I guess Mr. Cruz and his Tea Party buddies have put their WMD back in the sack for a few months but you can count on them to pull it out again in January. I like Warren Buffet’s words above. These guys are playing around with something that they have no idea of its destructive power.