Gurus

Buffett: Beware of Debt

The U.S. economy is breathing again, but the dollar isn't out of the woods yet, Warren Buffett writes in Wednesday's New York Times. Praising much of the government's rescue, the Berkshire Hathaway chief cautions that these efforts have also left us in "fiscally uncharted territory" with the deficit set to reach $1.8 trillion. The next step: controlling "greenback emissions," he writes. Once we are in recovery mode, "Congress must end the rise in the debt-to-G.D.P. ratio and keep our growth in obligations in line with our growth in resources."