Buffett Touts Second Stimulus: “Best Days Of America Lie Ahead”
Economic superstar and informal Obama advisor Warren Buffett joined the growing chorus of Democrats and supporters of the president calling for a a second, more precise influx of stimulus to be injected into the struggling economy. Buffett described a national evonomy not yet in full recovery and said another round of government stimulus “may well be called for.”Â
But Buffett also brushed aside increasingly caustic criticism from Republicans that Obama’s policies will destroy the American economy and border on socialism, insisting that the country’s “best days…lie ahead.”
Buffett, the billionaire founder of Berkshire Hathaway, said Americans suffered “a shock to the system” from the economic difficulties in the final quarter of last year but had started to rebound.
“We’re not in a freefall, but we’re not in a recovery either,” he told ABC’s “Good Morning America.”
“We were in a freefall really in the last quarter of last year, starting in the financial markets and spreading to the economy, and we had this huge change in behavior.”
Buffett, a supporter of President Barack Obama during last year’s election campaign, said a second economic stimulus package might be needed. The Obama administration says it does not see a need for a second stimulus yet.
“I think a second one may well be called for. It is not a panacea. A stimulus is the right thing. You hope it doesn’t get watered down,” he said.
“We’re going to come out of this better than ever, the best days of America lie ahead but not next week or next month,” he said.
Conservative critics of President Obama had been gleefully publicizing previous ambiguous comments from Buffett on the president’s handling of the economy. And now?
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically each day to your feed reader.
WTF are you kidding me ! They have only sent out 10% of the last stimulus. This actually would be stimulus number 3. The first 2 didn’t work so why should a third. You left loon libs are morons, you are destroying the economy and the future of this country 2010 can’t get here fast enough hopefully there will be something left.
So Buffett agrees, the stimulus hasn’t worked. He also thought Crap and Tax was a terrible idea; he also thinks the Employee Free Choice Act (Card Check) is a terrible idea; he also likened half of Porkulus to “a bunch of candy thrown in.”
Boy, with friends like Warren Buffett and Colin Powell, who needs enemies!