BUSINESS

Bill Gates: Government's Constant Budget Battles Are 'Absolutely Insane'

02/07/2013 03:52 pm ET

The second-richest man in the world thinks the government's constant budget battles are "absolutely insane."

Bill Gates said on CNN's Fareed Zakaria GPS on Sunday that the government's short-term budget planning was the equivalent of trying to run a business without knowing how much money you can spend.

"It's terribly inefficient," Gates said. "Every bad thing you can say about government gets worse when it's on these short-term, unknown future processes."

The 112th Congress, or the session that ended in early January, was the least productive Congress since 1948. And the American people have taken notice. Congress has become even less popular than cockroaches and lice, according to a recent poll by Public Policy Polling.

Budget battles, such as the debt ceiling fight and the fiscal cliff fiasco, have become more common in recent years.

And Congress is about to face off again. Deep automatic spending cuts are scheduled to go into effect on March 1. Congress postponed the cuts for two months at the beginning of the year, but it is unclear how Congress will address them now.

(Hat tip: CNS News.)

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