Warren Buffett, the world's greatest investor, yesterday launched a vitriolic attack on the US government for failing to take effective action to reduce the country's trade deficit.
[. . .]
"A country that is now aspiring to an 'ownership society will not find happiness... in a 'sharecropper's society' " But he says that just such a demeaning outcome is "where our trade policies, supported by Republicans and Democrats alike, are taking us."
It's time for a little pain, though this Congress cringes at the mere thought of it. It's time for a tax increase, before the debt gets out of reach. It's time for the repeal of the Bush tax cuts a few years ago. We cannot sustain this pace of spending, especially using the fuzzy math (big-budget items off-budget) the Bush administration is. It's time for the White House to be brought to the bar, and it's time for the 'paleo-conservatives' to do it, if any of 'em actually exist anymore.
Link via Corrente. You really should read The Farmer's post too.
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