Don’t count on a soft landing for the country’s deficit-addicted economy, Buffett reiterated Tuesday. The U.S. trade deficit is a bigger threat to the domestic economy than either the federal budget deficit or consumer debt and could lead to “political turmoil”, the decorated investor warned. Buffett’s bearishness is understandable: Fixing the trade deficit–which soared to a record $665.9 billion in 2004, and is expected to top $700 billion this year–is becoming rather like turning around an ocean liner by dipping a teaspoon in the water.
From
Forbes
Now that Uber Investor Buffett has become a bigger critic of the current GOP plan to starve the beast I’m half expecting FOX news to start calling him a socialist in the way they’ve called George Soros a socialist.
