Of Bush and Buffet

President Bush has just finished a 60-day tour of the country, attempting to portray the Social Security "crisis" as an urgent problem that desperately needs to be fixed by pulling money out of it and putting it into the stock market.

On CNN just now, Warren Buffet made an intersting observation:

Well, it's an interesting idea that a deficit of $100 billion a year, something, 20 years out, seems to terrify the administration. But the $400 plus billion dollars deficit currently does nothing but draw yawns. I mean the idea that this terrible specter looms over us 20 years out -- which is a small fraction of the deficit we happily run now -- seems kind of interesting to me.

Warren Buffet ought to know what he's talking about; class "A" shares in his investment company are currently trading at around $85,000 each.