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Buffett calls threat to not raise US debt limit a 'political weapon' -CNBC

NEW YORK, Oct 16 (Reuters) - Warren Buffett, chairman and chief executive of Berkshire Hathaway, said Wednesday that the threat of not raising the U.S. debt ceiling is a political weapon.

The idea that Congress could fail to raise the $16.7 trillion U.S. borrowing limit is a "political weapon of mass destruction," Buffett told cable television network CNBC.

Buffett also said that his firm's spending rate this year, particularly in reference to acquisitions, is as "high as ever."