Warren Buffett Says "Economy Out of the Emergency Room"

Warren Buffet, billionaire investor, thinks the economy is improving. But he also thinks the price we're paying for the federal stimulus package and other bills is a new threat. A problem we'll have to face eventually.

Buffet wrote a guest op-ed in The New York Times this Wednesday.

"The United States economy is now out of the emergency room and appears to be on a slow path to recovery," Warren Buffett wrote. "But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects.

"For now, most of those effects are invisible and could indeed remain latent for a long time. Still, their threat may be as ominous as that posed by the financial crisis itself."

Buffett thinks our country's publicly held debt is dangerously expanding due to these programs.

"Our immediate problem is to get our country back on its feet and flourishing - 'whatever it takes' still makes sense," Buffett wrote. "Once recovery is gained, however, Congress must end the rise in the debt-to-GDP ratio and keep our growth in obligations in line with our growth in resources."

Still, Warren Buffett seems very optimistic about the future economy. Back in July he told CNBC that now was a good time to invest in stocks.

Warren Buffett is one of the most successful investors in history. His estimated net worth is about $62 billion. He's the largest shareholder and C.E.O. of Berkshire Hathaway. I think it would be prudent to listen to his advice.