"The United States is richer than it's ever been. We have $50,000 or so of GDP per person. But we've overpromised and we've also undertaxed to some extent, so we find ourselves with this great fiscal imbalance. But it was man made. We're a rich country. It can be solved. ... We'll be able to overcome this problem. America has faced a lot tougher problems than this one. We'll get it solved."
Buffett spoke with Melinda Gates, who is married to his friend Bill Gates, Microsoft's Chairman. Buffett has pledged most of his fortune to the Gates Foundation. "We have a great history of philanthropy, but that doesn't mean that we don't have the capacity to do a whole lot more."