Buffet Says Thank You To Uncle Sam

by Stuart Shapiro

As we approach Thanksgiving, it is good for all of us to remember what we are thankful for.  And it is no surprise that Warren Buffett has more to be thankful for than most of us.  He is also smart enough to know what he should be thankful for and top on his list is the bailout decisions supported by both parties (and now decried by Republicans) in 2008.

So, again, Uncle Sam, thanks to you and your aides. Often you are wasteful, and sometimes you are bullying. On occasion, you are downright maddening. But in this extraordinary emergency, you came through — and the world would look far different now if you had not.

Your grateful nephew,

Warren

It’s easy to forget how bad things looked in September 2008.  And in the last instance of bipartisanship worth remembering, both parties supported the TARP bailout.  Without it, we’d be talking about the Second Depression, not the Great Recession.  Thank you for reminding us, Mr. Buffett.

By: Stuart Shapiro

Stuart is a professor and the Director of the Public Policy
program at the Bloustein School of Planning and Public Policy at Rutgers
University. He teaches economics and cost-benefit analysis and studies
regulation in the United States at both the federal and state levels.
Prior to coming to Rutgers, Stuart worked for five years at the Office
of Management and Budget in Washington under Presidents Clinton and
George W. Bush.