In other economic news, billionaire investor Warren Buffett has told ABC News that the rich should be paying a lot more in taxes and that the Bush-era tax cuts for the wealthy should be left to expire at the end of December. During the interview, Buffett also dismissed Republican arguments that letting tax cuts expire for the wealthy would hurt economic growth.

Warren Buffett: “I think that people at the high end, people like myself, should be paying a lot more in taxes. We have it better than we’ve ever had it.”

Christiane Amanpour: “They say you have to keep those tax cuts, even on the very wealthy, because that is what energizes business and capitalism.”

Warren Buffett: “The rich are always going to say that, you know, 'Just give us more money, and we'll go out and spend more, and then it will all trickle down to the rest of you.’ But that has not worked the last 10 years, and I hope the American public is catching on.”