As talks continue between President Obama and House Speaker John Boehner regarding the fiscal cliff, reports vary on the tenor of the negotiations. While Tuesday’s discussion was described as “cordial,” today’s discussion was considered more “serious and deliberate.”
But in the private sector, an interesting story from the New York Times could suggest an advantage in the Obama administration’s favor. A number of top executives from companies such as Goldman Sachs, Morgan Stanley, Exxon-Mobil and Caterpillar have signaled an end to opposition for higher taxes on the wealthy, considering both short term effects on debt reduction and possible long term effects on economic growth.
At the America Works Summit hosted by The Atlantic, Alice Rivlin of President Obama’s National Commission on Fiscal Responsibility and Reform echoed the need to focus on both growing the economy and reducing federal debt. She also took a jab at Paul Krugman who, Rivlin said, has more of a one track mind when it comes to fixing the country’s economic outlook.