Tags: buffett | fiscal | cliff

Buffett: America's Seen Worse Problems than Fiscal Cliff

Saturday, 29 Dec 2012 10:24 AM

By Sandy Fitzgerald

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Warren Buffett says he’s optimistic the nation’s debt problems will be solved, despite the political fighting that’s threatening to put the country over the “fiscal cliff.”

“In the end, 535 people in Washington will not thwart the wishes of 312 million Americans,” Buffet said on BBC Radio 4’s “Today” program.

"The United States is richer than it's ever been. We have $50,000 or so of GDP per person. But we've overpromised and we've also under taxed to some extent, so we find ourselves with this great fiscal imbalance. But it was man made. We're a rich country. It can be solved. ... We'll be able to overcome this problem. America has faced a lot tougher problems than this one. We'll get it solved."

Editor's Note: Should Obama and Congress Raise Taxes? Vote Now.

Buffett was speaking with Melinda Gates, who was serving as guest editor on the show. Gates and her husband, Microsoft’s Bill Gates, is one of the world’s leading philanthropists through the gates Foundation, to which Buffett has already pledged much of his massive fortune.

He and Gates also spoke about the need for more women in leadership roles.

"What a waste of human talent. Fifty percent of the talent of the country we've pushed off in the corner for almost 200 years,” said Buffett. “No Supreme Court justice was a woman. Believe me, I'll take Sandra Day O'Connor or Ruth Ginsburg. It was a shame to not be utilizing that talent. One of the things that makes me so optimistic about the future, when I see how far we've come only using half the talent in the country. And now I realize we're getting to the point, we're starting to use 100 percent of our talent. It makes me very optimistic. But we still have a ways to go."

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