Warren Buffet thinks about the "last" crisis and the future.......do you think we do what he recommended?

Here is an old video from one year after the housing bust.....and you have to realize that things were still not firing on all cylinders just yet, so the comments are quite interesting.

But please skip forward to about 19:20 minutes into the video and note the discussion Buffet has about his fear of deficits and dept accumulation. Note his feeling that we would certainly need to get our deficits under control....to make out outlays better match our tax revenues...but our situation never really came to that. In fact, out current plans are to further increase out debt......

So we might want to consider as Buffet says, where this might be leading us, and get prepared for it before we "get there".