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Buffett Says Donations Insufficient to Deal With Budget Deficit

Warren Buffett
Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. Photographer: Tomohiro Ohsumi/Bloomberg

Jan. 23 (Bloomberg) -- Warren Buffett, the billionaire who promised to match lawmakers’ voluntary contributions to the U.S. Treasury, said donations are insufficient to solve the budget deficit.

“What is effective is changing the law,” Buffett told Bloomberg Television’s Betty Liu in an interview today. Buffett, a supporter of President Barack Obama, has called for lower government spending and higher taxes on the wealthiest residents.

To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net.

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

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