Warren Buffett, CEO of Berkshire Hathaway, dismisses concerns about Congress failing to raise the debt ceiling and a potential default on US government loans 

Buffett has previously criticized the debt-ceiling standoff as an idiotic waste of time and advocated for eliminating the borrowing limit altogether 

The debt ceiling is a source of contention and political wrangling in the United States, representing a limit set by Congress on the federal government's debt accumulation 

Failure to raise the debt ceiling can result in severe consequences, including a potential default on the country's financial obligations 

Buffett's perspective sheds light on the debate surrounding the debt-ceiling debacle and highlights the illogical nature of a debt limit 

During the 2011 debt-ceiling crisis, Buffett strongly criticized legislators for allowing the country to run out of money, calling it the most asinine act ever performed by Congress