Warren Buffett's advice to Obama

What it means when the president's most famous business-world booster says the economy has 'fallen off a cliff'

President Obama benefited from Warren Buffett's endorsement during the campaign, said John Dickerson in Slate, but now Obama really needs the investment guru's help. Buffett told financial cable network CNBC that the economy has "fallen off a cliff" (watch the video) and that Obama needs to put other problems on the back-burner so he can focus on winning the economic "war." Obama would be wise to do as Buffett says.

Sorry, said Rochelle Riley in the Detroit Free Press, but "Warren Buffett is wrong." Demanding that President Obama "focus only on the economy" might make sense to a billionaire, but "those of us who won't make Buffett's monthly salary in our lifetimes" want a president who can also keep an eye on "the post-crisis challenges of fixing the schools, improving medical care, expanding health care to all Americans, and saving urban America."

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