Warren Buffett, chairman and chief executive of Berkshire Hathaway, said Wednesday that the threat of not raising the U.S. debt ceiling is a "political weapon of mass destruction"."It would be a colossal readjustment of the world if people lost faith in the United States government," Buffett said in an interview with cable television network CNBC as negotiations continued in Washington over raising the $16.7 trillion U.S. borrowing limit.Buffett said a deal between Republican and Democratic lawmakers to raise the debt limit would likely be reached this week. If the debt ceiling is not raised, it could lead to the United States missing debt payments.Berkshire Hathaway owns short-term Treasury bills but Buffett said he was "not worried" about the bills being paid. U.S. Treasury Secretary Jack Lew has said the United States will exhaust its borrowing authority no later than Oct. 17.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 1.69% or $2902.0/share to $174822.00. In the past year, the shares have traded as low as $125950.00 and as high as $178900.00. On average, 4586 shares of BRK-A exchange hands on a given day and today's volume is recorded at 181.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 1.72% or $1.97/share to $116.60. In the past year, the shares have traded as low as $83.85 and as high as $119.30. On average, 3416440 shares of BRK-B exchange hands on a given day and today's volume is recorded at 1066533.
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