During Berkshire Hathaway’s annual shareholder meeting, Warren Buffett expressed concerns about the United States’ fiscal deficit, describing it as “unsustainable.” He noted that managing government revenue and expenses is an ongoing challenge without a definitive solution. Buffett emphasized that operating with such a deficit over a long period poses risks of becoming uncontrollable, referencing past instances where former Federal Reserve Chair Paul Volcker helped avert crises. When asked about DOGE, Buffett refrained from delving into political specifics but acknowledged the difficulty in addressing the fiscal gap. He stated that reducing the deficit would be a challenging yet necessary task, one he wouldn’t envy. Buffett also announced his intention to step down as CEO of Berkshire Hathaway by the end of the year, recommending Greg Abel as his successor. — new from Business Insider
