Buffett sees the risks to the debt ceiling hike (AP)

OMAHA, Neb. — billionaire investor Warren Buffett said that Thursday Congress plays a dangerous game in not raising the ceiling of the U.S. debt.

The CEO and President of the conglomerate Berkshire Hathaway Inc. said on television network cable CNBC, that there is no way of telling what might happen if the debt limit is not increased, but it is a dangerous idea.

Buffett has compared the debate more to raise the debt limit to a game of "Russian Roulette" with a bullet in a gun.

He said denying five times six to raise the debt limit could not be dangerous, but the sixth time could have catastrophic consequences.

He said: "You are playing with fire when you play with fire". Buffett was in Sun Valley, Idaho, participating at the annual conference organized by the banker Allen & Co. which attracts Wall Street and media bosses.

Congressional leaders of both political parties are scheduled to visit Thursday White House to talk about reducing the deficit, so a deal can be made to increase the debt limit and to avoid a first failure on U.S. financial commitments.

Buffett said that Congress raises the ceiling for debt seven times during the administration of President George w. Bush, so it would be foolish not to do so now. If America is running against its debt ceiling, buffet, said the approximately 4 billion the Government spends every day will be missed.

"We must tell the rest of the world that anytime the Congress people begin to throw a tantrum that we are not going to pay our bills," said Buffett.

Leader of the Berkshire Hathaway said he believes that the global economy continued to improve slowly since the fall of 2009, based on the reports it receives all of the subsidiaries of the company based in Omaha.

"Business has been more consistently in almost all areas except construction," said Buffett.

But Buffett said of recent to avoid default Greece efforts have not resolved the financial problems of Europe. He said, it is clear that Europe has still persistent problems because the bonds issued by the 17 countries that use the euro offer significantly different yields.

"The situation Greek and the European situation is not resolved," said Buffett. "They have real problems in Europe." That does not mean that they cannot overcome them. »

He said there are a lot of work to do to save the euro because the two countries are dragging down the rest of Europe.

Berkshire has approximately 80 subsidiaries, including the railroad, clothing, furniture and jewelry business, but his insurance and utility companies typically represent more than half the net income of the company. It also has major investments in companies such as Coca-Cola Co. and Wells Fargo & Co.

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