May 1, 2005
I’m guessing the Bush administration didn’t see this one coming. Speaking at Berkshire Hathaway’s annual meeting:
Buffett and Munger also told shareholders they oppose U.S. President George W. Bush’s plan to allow privatization of Social Security because the government has a duty to take care of the country’s elderly.
“The Republicans are out of their cotton-picking minds on this issue,” said Munger, a self-described right-wing Republican. Social Security is “one of the most successful things that the government has ever done.”
Bear in mind that Buffett and Munger (combined wealth $46 billion) are not exactly dim when it comes to investing.
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