Buffett talked about the trade deficits US occurred – “Making these purchases that weren’t reciprocated by sales, the U.S. necessarily transferred ownership of its
assets or IOUs to the rest of the world. Like a very wealthy but self-indulgent family, we peeled off a bit of what we owned in order to consume more than we produced”.
And the “reverse compounding” of more interests on interests.
Those two problems, mentioned in 2006, are now the focus of US gov.
Buffett had some other issues to consider – how to retain talents.