Buffett downplays concerns on recession due to fiscal cliff

11/15/2012 | CBS MoneyWatch

A recession would be unlikely to occur even when Congress is unable to solve the "fiscal cliff" issue, said Warren Buffett, CEO of Berkshire Hathaway, which owns BNSF. Despite the failure of Congress and the Obama administration to reach a settlement, the U.S. economy will be able to bounce back due to its resilience, Buffett said. "We are not going to permanently cripple ourselves just because 535 people can't get along," he said.

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