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Obama presses case on 'fiscal cliff' with Dimon, Buffett

By REUTERS

NOVEMBER 19, 2012 06:04

WASHINGTON - US President Barack Obama's intensive lobbying to avert big year-end tax hikes and spending cuts resumed over the weekend as he spoke with senior corporate chieftains, including JPMorgan Chase's Jamie Dimon and legendary investor Warren Buffett.

Dimon has been a harsh critic of tougher rules imposed on the financial services industry after the 2007-2009 recession, but last month backed Obama's goal of raising taxes on top earners to avert the so-called fiscal cliff.

The president, who is on a four-day Asia trip, also spoke with Apple's Tim Cook, Boeing's Jim McNerney, and Costco's Craig Jelinek, a White House official said.

Some, like Jelinek, who spoke at the Democratic convention, are long-time Obama supporters.

"The president reached out to and spoke with each of these business leaders as a part of his continuing conversations and outreach on the need to find a balanced deficit-reduction solution that protects the middle class and continues to move our economy forward," the White House official said.

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