Buffett: US economy better than presidential hopefuls say

Warren Buffett
FILE - In this May 5, 2014, file photo, Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview with Liz Claman on the Fox Business Network in Omaha, Neb. Buffett’s Berkshire Hathaway is buying Precision Castparts Corp. for approximately $32.36 billion, the company announced, Monday, Aug. 10, 2015. (AP Photo/Nati Harnik, File)

OMAHA, Neb. (AP) — Investor Warren Buffett says the United States’ economy is in better shape than the presidential candidates make it seem.

Buffett said Saturday in his annual letter to Berkshire Hathaway shareholders that any baby born in the country today will live better than their parents, even with the current slow economic growth.

He notes that there will still be economic disruption and pain along the way as business evolves, but that the country needs to make sure it has a solid safety net to help people who lose jobs.

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Buffett pointed out that change also creates challenges for Berkshire’s businesses. For instance, its BNSF railroad is certain to haul less coal in the future and Geico insurance could be hurt by driverless cars.

He assured shareholders that Berkshire’s businesses will adapt.

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