Friday, March 13, 2009

Obama Reaches out to Business Community

Obama Says U.S. Can’t Afford ‘Bubble-and-Bust’ Cycles

Bloomberg — President Barack Obama warned a group of chief executive officers that the U.S. can’t continue with “endless cycles of bubble and bust” and must build a new foundation for future economic growth.
The financial markets crisis is only part of the challenge to the U.S. economy, Obama told the Washington-based Business Roundtable today.
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Obama Makes Overtures for Cooperation of CEOs

Wall Street Journal — In his most aggressive outreach yet to the business community, President Barack Obama told some of the nation's leading CEOs that he is ready to talk about lowering corporate income-tax rates and could compromise on his plan to combat global warming.
Speaking for more than an hour Thursday to the Business Roundtable, a chief executives organization, Mr. Obama made it clear he wants the business community's cooperation to secure his agenda of expanding the federal role in education, overhauling health care and transforming the energy sector.
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Administration warns of tighter reins on stimulus money

CNN — Vice President Joe Biden told a group of state leaders Thursday that the Obama administration is set to unveil a series of regulations restricting the use of funds from the recently-enacted economic stimulus plan.
The new rules are expected to be rolled out on Friday.
The government needs to go "above and beyond the typical ways of doing business" to help the economy, President Obama said at a White House conference on best practices for implementing the $787 billion package.
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