Buffett and Moynihan on ObamaCare and Economy

by Rachel Baker on September 22, 2013

Warren Buffet and Bank of America CEO, Brian Moynihan, were interviewed by “Squakbox” during a student forum at Georgetown University.

Buffett said he sees health-care costs as a “huge problem for the country … but that’s not the fault of Obamacare,” because the spending trends have been in place for decades.

“Health-care costs in this country are a tapeworm of American business,” he continued. “Overall, the economy has a 17 percent-plus of GDP going to health-care costs.”

Buffett was interviewed alongside Bank of America CEO Brian Moynihan before a student forum at Georgetown University in Washington, D.C., on Thursday.

On health-care costs, Moynihan said, “[Obama’s] Affordable Care Act, the debate around it, has actually just focused business on how much this is really costing them.”


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