Buffett Says Sequestration Dumb Way to Attack Serious Problem

Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A), said U.S. federal spending cuts known as sequestration are a “meat-axe” approach to reducing the deficit.

“It’s a very dumb way of attacking a very serious problem,” Buffett said in an interview today on CNBC. “The deficit is going to come down and it needs to come down and it will come down, and we may be doing it in a meat-ax way in this particular move.”

Editor: Dan Kraut

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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