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Monday, March 1, 2010

Economic recovery will be slow according to Buffett

Warren Buffett blamed healthcare for dragging down the economy. The U.S. healhcare is bloated and at 17% of GDP, is a much higher cost than healthcare costs of other countries.

Warren supported Obama's planned reforms but said he would prefer 'Plan C', one that focused on cutting costs.

Warren likened healthcare as a 'tapeworm' and said it was 'eating at our economic body'.

While the bloated healthcare in the U.S. is a serious problem, it is almost certainly not the only issue facing the U.S. economy. A massive debt, unemployment, consumer confidence, a housing crisis, not to mention a costly war, could all be added to the list.