Warren Buffett: U.S. Default Would Be 'A Pure Act Of Idiocy'
Description:OMAHA, Neb. -- OMAHA, Neb. (AP) — Billionaire Warren Buffett says it would be idiocy for the nation's leaders to allow the United States to default on its bills.
Buffett is a renowned investor who leads the Berkshire Hathaway conglomerate. He appeared Wednesday on CNBC.
Buffett says he doesn't think the federal government will fail to pay its bills, but "if it does happen, it's a pure act of idiocy."(1:04)