WARREN BUFFETT: 'The Debt Itself Is Not A Problem'

warren buffett

Photo: CBS Sunday Morning

CBS’s Rebecca Jarvis had a brief profile on billionaire Warren Buffett this morning.Among other things, they discussed the history of inequality in America and the world.

“The womb from which you emerge determines your fate to an enormous degree,” he said.  “I was born in 1930.  I had two sisters that had every bit of intelligence I had.  Every bit the drive.  But they didn’t have the same opportunities.”

“Because you were a man,” said Jarvis.

“And I was white,” added Buffett.  “So, if I’d been black, my future would’ve been entirely different.  If I’d been a female, my life would’ve been entirely different.”

“What about our debt?” asked Jarvis.  “$16.4 trillion.”

“It’s a lower percentage of GDP than it was when we came out of World War II,” said Buffett. “You’ve gotta think of it in relation to GDP.  It is not a good thing to have it going up in relation to GDP.  That should be stabilised. But the debt itself is not a problem.”

The took a drive to his regular McDonald’s, his old elementary school, and his current home.

Check out the whole segment here:


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