Warren Buffett Warns U.S. Default Would be ‘Catastrophic’
The billionaire said he could not imagine the government defaulting on its debt and risk letting the world’s financial system “go into turmoil.”
Lucas Jackson/Reuters
At a Berkshire Hathaway Inc. annual meeting, Warren Buffett offered a vote of confidence in U.S. lawmakers, saying it would be “catastrophic”. His words come after Treasury Secretary Janet Yellen’s warning earlier this week that America may hit the debt ceiling by June 1 if Congress does not take action soon. While Buffett feels such a move is not likely, he still conceded that the U.S. defaulting would send the world financial system “into turmoil,” Reuters reports.
Unlock a year of full access to The Looker and The Daily Beast for $35.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.
Register below to read this article for free or subscribe
to unlock unlimited access to The Looker and The Daily Beast.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Already have an account? Sign In
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.
Sign in
Login dialog