Warren Buffett: "The Nation Owes Small Business Owners... Stimulus Measures Must Be Extended"

"Without Additional Support, It Throws Many People's Dreams into Disarray"

Warren Buffett, Chairman of Berkshire Hathaway
[Photo by EPA Yonhap News]

[Asia Economy Reporter Hyunjin Jung] Warren Buffett, chairman of Berkshire Hathaway and known as the 'Oracle of Omaha,' emphasized that Congress must extend the economic stimulus package to prevent damage caused by the novel coronavirus disease (COVID-19).

On the 15th (local time), in an interview with CNBC, Buffett described the current situation as an "economic war," stating, "I think the country owes millions of small business owners." He noted that although lockdown measures were implemented due to COVID-19, some sectors are thriving, drawing a parallel to World War II when all resources were mobilized for defense production, causing many industries to shut down.

Buffett urged the extension of the government's Paycheck Protection Program (PPP) to support small business owners. He emphasized that without additional support for small businesses, Congress would be "throwing many people's dreams away," and stressed, "Congress must take action." He also pointed out, "It would be very foolish if we cannot get people back to work as before."

In the U.S. Congress, discussions on additional COVID-19 related economic stimulus measures are ongoing. On the same day, Mitch McConnell, the Republican Senate Majority Leader who first acknowledged President-elect Joe Biden's victory, expressed his intention to conclude negotiations before the federal congressional session ends ahead of Christmas, stating, "We are talking and will stay in Congress until the stimulus bill and federal budget package are passed."

This content was produced with the assistance of AI translation services.