Warren Buffett says second economic stimulus may be needed

Billionaire Warren Buffett, perhaps the greatest investor ever, today came close to endorsing the need for a second economic stimulus bill.

Speaking on ABC's "Good Morning America", Buffett, a vocal Obama supporter during the presidential campaign, said the economy is "not in a free fall, but we're not in a recovery either." He also predicted that unemployment may top 11 percent, a view shared by many economists.

"I think a second one may well be called for," he told the program. "It is not a panacea. A stimulus is the right thing. You hope it doesn't get watered down."