Sharing a view with Icahn, Buffett believes the obsession among Republicans on Capitol Hill about the national debt is misplaced. "The national debt as a percentage of GDP is a little higher than I would like it, but the main thing is not to have it galloping upward."
"There are countries around with much greater debt-to-GDP ratio than what we have. What we have is not dangerous," he continued. "Debt can only be evaluated in relation to future income-producing capabilities, and the countries with income-producing capabilities have never been larger and they keep growing."
On the economy, Buffett said growth "is not booming; on the other hand it's not falling apart in any way shape or form either."
He believes the consumer is doing pretty well and expects that to continue, even with depressed oil prices on a somewhat of a recent upswing.
"If [crude] goes back to $100 a barrel that's a difference. But not only are gas prices low but interest rates are low, so people borrowing money on cars have a lower payment," he said. "Mortgage payments have [also] dropped dramatically, so people have money to spend on other things."
Against that backdrop, he added the labor market is "not bad."
Ever the cup-is-half-full type of investor, Buffett feels like a "10 on long-term optimism," and that's why he said he does not worry in the short run.