CNBC Transcript: Warren Buffett, Alan Simpson, & Erskine Bowles On Fixing the Debt Problem

This is a transcript of Warren Buffett, Alan Simpson, and Erskine Bowles' Sun Valley live interview on CNBC's Squawk Box, July 12, 2012, from 8am to 9am ET.  They discussed why the U.S. needs to address its mounting debt problem and suggested some solutions....