Economic Optimism - Glass is 3/4's Full

Warren Buffett: U.S. on Right Track Long-Term

As dark as things might look now, the U.S. is on the right track long-term, says billionaire investor Warren Buffett.

"My children will live better than I did, and my grandchildren even better," says the world's third-richest man and its most famous investor in an hour-long interview recently on CNBC.

"In the 20th century, the real standard of living in the United States went up seven for one. A great many of the factors that went into producing that really unprecedented gain in how people live ... are still present.

"We have a market system, we have a meritocracy, we have the rule of law.”

“None of them are perfect, but they have combined in the past to move one generation after another ahead of the one that preceded them. That will continue to be the case."