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This is a transcript of Warren Buffett, Alan Simpson, and Erskine Bowles' Sun Valley live interview on CNBC's Squawk Box, July 12, 2012, from 8am to 9am ET.
They discussed why the U.S. needs to address its mounting debt problem and suggested some solutions.
BECKY: We are in Sun Valley, as you mentioned, and we are joined by our dream lineup this morning: Warren Buffett, who's been with us for the last half hour and joining us and sitting down with us right now are former Senator Alan Simpson and Erskine Bowles, the former chief of— chief of staff for President Clinton. These are two gentlemen we have been hoping to get on the program for an incredibly long time— because of Simpson/Bowles, Bowles/Simpson and everything that's happening with the fiscal cliff. So gentlemen, we wanna thank you very much for agreeing to sit down with us this morning.
Warren Buffett can attest to this, but when we go around and talk to CEOs it is almost universal among them when they say if they had a chance and could vote for Bowles/Simpson or Simpson/Bowles— they would put this in immediately and they can't understand why this hasn't happened already. Warren—
BUFFETT: That's— not limited to CEOs either. I mean—
BECKY: It's not limited to CEOs.
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