Warren Buffett warns Congress that it must stop questioning economic stimulus or risk the future of American small businesses.
The Oracle of Omaha teamed up with Goldman Sachs chief David Solomon on Tuesday morning to quell politicians who have endured another second round of pandemic aid funding despite the coronavirus ravaging the nation and pushing many small businesses across the country. . edge.
“It’s an economic war,” the totemic 90-year-old investor exclaimed during an interview with CNBC. “We’ve trapped a lot of people in this induced recession and others are doing well, and I think the country owes this to the millions of small business people.”
Solomon echoed Buffett’s message and expressed optimism about the introduction of vaccines this week, but warned that 50 percent of participants in Goldman’s “10,000 Small Businesses” program have stopped paying their staff.
“While you can see the finish line, I think a lot of these small businesses need help getting across the finish line,” said Solomon.
The power couple is part of an increasingly louder chorus of Wall Street bigwigs pushing for Washington to close a new bill.
JPMorgan Chase, honcho Jamie Dimon, sounded on the stalled stimulus calls during a Nov. 18 performance at a financial conference.
“Now we have this big debate” Is it $ 2.2 trillion, $ 1.5 trillion? ” You must be kidding!” Dimon said. ‘I just mean split the baby and move on! This is childish behavior on the part of our politicians. “
Congress seems to be listening. On Monday, leaders of both houses released a new plan that would increase some of the benefits of first-round aid funding while putting $ 700 million in the hands of small businesses.
But Buffett made it clear on Tuesday that any proposal must be followed up immediately.
“It has to be done quickly,” he warned, “I mean, their boat is going down.”