The us budget and trade deficits

Credit is like oxygen. When either is abundant, its presence goes unnoticed. When either is missing, that’s all that is noticed. Even a short absence of credit can bring a company to its knees. We were in the bar drinking. I’m not sure that we want to go all the way back in, but we ought to get over the hangover. Well, there’ll be [another financial crisis] sometime, but no, I don’t worry about it in the least … because I conduct myself so that if there’s another crisis I’ll still be around, Berkshire will be in good shape. We will not be spending 25 percent of GDP and raising 15 percent of GDP 10 years from now. We’ll get there somehow. But … everybody in the country is trying to figure out how to have somebody else pay for it. But some of them are better equipped to fight that fight than others and they’re the people with money that care and that hire lobbyists.