(CNN) – Billionaire investor Warren Buffett said Monday government’s message on its plan to fix America’s faltering economy has so far been “muddled.”
Buffett, who endorsed President Obama’s White House bid, said government officials had not effectively communicated their plans, hampering recovery efforts.
“The message has to be very, very clear as to what government will be doing, and I think we've had, and it's the nature of the political process somewhat, but we've had muddled messages and the American public does not know,” he said. “They feel they don't know what's going on, and their reaction then is to absolutely pull back."
“...You can get fearful in five minutes, but you won't get confident for some time and government is going to play an enormous factor in how fast it comes back,” Buffett said. “And if you are confused and fearful, you don't get over being fearful until you aren't confused. The message has to be very, very clear as to what government will be doing.”
Buffett said America is in an “economic war,” and sharply criticized Congress for adding earmarks to the stimulus bill. He said Republicans have an obligation to stand by the Obama administration to fix the economy, but that Obama and Democrats shouldn’t use this as a chance to address other contentious issues and “to roll Republicans.”
“No finger-pointing, no vengeance, none of that stuff, just look forward,” said Buffett, who added that he supports Obama and thinks “he’s the right guy.”
“I think the minority has, they really do have an obligation to support things that in general are clearly designed to fight the war in a big way… I think that the Republicans have an obligation to regard this as an economic war and to realize you need one leader and in general support of that.”