In a live interview on CNBC underway now, Warren Buffett says there has been little progress over the past few months in the “economic war” being fought by the country. “We haven’t got the economy moving yet.”
While the economy is a “shambles” and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years.
Buffett says the nation should concentrate on creating jobs.
Thanks Barry, glad the emergency porkulus waste of money was passed to hold the unemployment under 8% which is now at 9.4% which means …
Interviewed today on CNBC (transcript), Mr. Buffett responded to a question about cap-and-trade by saying that regulated utilities would pass the costs on to customers, effectively resulting in a carbon tax.
“In the utility business, it’s going to be borne by customers. And it’s a tax like anything else,” he said.
Mr. Buffett, the chief executive of the conglomerate holding company Berkshire Hathaway, also said that the “tax is probably going to be pretty regressive,” and that public utility commissions in various states would determine “what customers it gets passed through to.”
While cap-and-trade legislation has not been enacted in the United States, as Mr. Buffett noted, projected revenues from the system are built into President Obama’s budget, which was unveiled last month.
How’s that hopey changey working out for you Obama voters.
Here is the video: