Warren Buffett: Scrap the health care bill

At the third and final presidential debate at Hofstra University on October 15, 2008, candidate Obama refuted charges that he was closely associated with Weather Underground terrorist, William Ayers and the group ACORN, by dropping some highly respected establishment names:

Let me tell you who I associate with. On economic policy, I associate with Warren Buffett and former Fed Chairman Paul Volcker. If I'm interested in figuring out my foreign policy, I associate myself with my running mate, Joe Biden or with Dick Lugar, the Republican ranking member on the Senate Foreign Relations Committee, or General Jim Jones, the former supreme allied commander of NATO.
Those are the people, Democrats and Republicans, who have shaped my ideas and who will be surrounding me in the White House.

Today, one of those associates, the Oracle of Omaha himself, advised the President to scrap the health care bill.  From The Daily Caller: 

In a CNBC interview earlier today, billionaire investor Warren Buffet suggested Democrats scrap the health care reform bill and approach health care reform in a more bipartisan fashion.

 “What we have now is untenable over time. That kind of a cost compared to the rest of the world is really like a tapeworm eating, you know, at our economic body,” he said.

“We have a health system that, in terms of costs, is really out of control. And if you take this line and you project what has been happening into the future, we will get less and less competitive. So we need something else.”

Asked if he would be in favor of scrapping the health bill, Buffet responded, “I would be.” He suggested that the president instead try to get a “unified effort” to address the “national emergency” posed by health care costs.

Here's the video of the relevant exchange: