President Barack Obama and the Republican Party are “pretty damn dumb” if they can’t reach a deal on the debt ceiling, said Warren Buffett in an interview with CNBC. He said that “the market is not gonna fall apart, because [investors] expect Washington will only act irrationally for a certain length of time,” but it’s clear that he considers the entire controversy to be a distraction at best and a possible disruption to a recovering economy.
Republicans historically use debt ceiling as bargaining chip
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