Warren Buffett: Single-payer system is 'probably the best' for US

In a discussion about the state of U.S. healthcare, Berkshire Hathaway CEO Warren Buffett said a single-payer health system might be more cost effective than the ACA or the Senate Republicans' proposed healthcare bill.

Mr. Buffett spoke to PBS NewsHour about how U.S. businesses have been more affected by increased federal healthcare spending during recent years than by corporate taxes. Those substantial increases, he said, will eventually become unsustainable. Mr. Buffett claimed in terms of overall cost, a single-payer health system would be more effective.

"With my limited knowledge, I think that [a single-payer system is] probably is the best system, because … we are such a rich country … [and] can afford to do it," Mr. Buffett said. "In almost every field of American business, it pays to bring down costs. There's an awful lot of people involved in the medical [industry] … just [based on] the way the [healthcare] ecosystem works[,] there is no incentive to bring down costs."

To view Mr. Buffett's full interview, click here.

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