BREAKING NEWS

Two dozen leaders to meet with Obama on deficit

By REUTERS

NOVEMBER 13, 2012 04:54

WASHINGTON - Two dozen business, labor and civic leaders, including the chief executives of major US corporations such as Ford, IBM and Wal-Mart, will meet President Barack Obama to discuss how to control the federal deficit, said the White House on Monday.

Obama was scheduled to meet labor and civic leaders on Tuesday, followed by a meeting with business executives on Wednesday. A White House official said the leaders would discuss "the best ways to move our economy forward and find a balanced approach to reduce the deficit."

Unless the president and lawmakers agree, a combination of tax increases and government spending cuts will take effect in early 2013, the so-called fiscal cliff that would reduce the deficit but harm the US economy.

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