Tags: Buffett | Economy

Buffett Sees Little Chance of US Recession

Tuesday, 05 Jun 2012 10:47 PM

Warren Buffett says that despite recent signs of weakness, the U.S. economy isn't likely to slip back into a recession.

He also says both political parties deserved blame for the federal government's failure to reduce the deficit.

Speaking at the 25th anniversary dinner of the Economic Club of Washington late Tuesday, the billionaire investor said he sees the odds of a renewed recession as "very low."

But he warned that could change if the effects of Europe's financial crisis were to "spill over in a big way."

When asked how he would reduce the U.S. government's budget deficit, which is on track to top $1 trillion for the fourth year in a row, Buffett recommended raising taxes and cutting spending.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
120
2012-47-05
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved