It's not a secret that billionaire investor and Berkshire Hathaway (NYSE:BRK.A) CEO Warren Buffett is a supporter of President Barack Obama - having endorsed and raised money for him. But has Buffett's approval of the president mirrored the declining marks he's getting from the rest of America?
No, according to Buffett, Obama's earned "high marks." Buffett appeared on CNBC's March 1 "Squawk Box" and assessed Obama's presidency to date.
"Well, I'm very glad I voted for him," Buffett said. "That has not changed. I think the problems he has run into are monumental, particularly in terms of the economy. I mean - we're running huge deficits, which we should be running from a Keynesian standpoint to try and get this economy moving. But they have consequences too. I do not envy the job of being President, but I give Obama high marks."
Asked whether the Tea Parties were on to something when it comes to the issue of federal spending and the size of government, Buffett didn't say whether he thought they were relevant, and said this was just par for the course if you look at American history.
"We've worried about that for a couple of hundred years," Buffett said. "Overall we've done OK with it. I mean, government has disappointed people many a times over the 200 years, but overall - I mean, just look at our country now compared to the past. We've always had these motivations of people worrying about the next election and all that sort of thing."
"But if I'm going to comment on the Tea Party, I'll have to look at my notes here," Buffett said, looking at his hands.