Fiscal cliff helps mend Obama-CEO relations
November 21st, 2012
10:50 AM ET
8 years ago

Fiscal cliff helps mend Obama-CEO relations

Washington (CNNMoney) - Fiscal cliff negotiations are proving to be the perfect excuse for President Obama and the business community to smooth over a rocky four years.

The White House has struggled to make and keep friends in the business community, thanks to contentious policy fights over financial and health care reforms. Obama famously dubbed Wall Street as "fat cat bankers" and bashed health insurers for raising premiums and denying coverage.


Filed under: • Fiscal Cliff • President Obama • White House
soundoff (24 Responses)
  1. Dutch/Bad Newz, VA

    Here's some news Jamie and the rest of you fat cats: YOUR TAXES ARE GOING UP!!!

    November 21, 2012 11:02 am at 11:02 am |
  2. Rudy NYC

    This cynic wishes to thank the right wing for manufacturing a financial crisis, which caused business leaders to finally sit down and speak with Pres. Obama.

    November 21, 2012 11:06 am at 11:06 am |
  3. Data Driven

    They are fat-cat bankers, though. I'm not particularly interested if their feelings were hurt, since they're the ones who wrecked the economy with their "complicated financial instruments". Most of them ought to be behind bars.

    See, this is where OFA can continue to be of use. Through OFA, the President's supporters can insist that he not cozy up to these bloated plutocratic reprobates who almost destroyed this country.

    November 21, 2012 11:09 am at 11:09 am |
  4. Wire Palladin, S. F

    Let them all expire. We have to pay for the republican wars, republican tax cuts for the wealthy, republican unfunded drug programs, TARP, etc., that were put on our credit card. Mittens needs to pay more than 14% when most of us pay a higher rate.

    November 21, 2012 11:09 am at 11:09 am |
  5. Lynda/Minnesota

    Maybe CEOs ought not to have given so much credence to Mitch McConnell's one term goals and instead spent their time working with President Obama these past 4 years.

    Same applies to Congress.

    November 21, 2012 11:15 am at 11:15 am |
  6. steve

    I agree with Palladin. Its time to pay the piper.

    November 21, 2012 11:21 am at 11:21 am |
  7. Dutch/Bad Newz, VA

    I've got a number for you to digest Jamie Dimon, Lloyd Blankfein, Brian Moyniham and the rest of you crooks: 39%

    November 21, 2012 11:26 am at 11:26 am |
  8. Rick McDaniel

    CNN would like people to believe that, but it is an incredible lie.

    November 21, 2012 11:28 am at 11:28 am |
  9. S.B. Stein E.B. NJ

    Taxes need to go up for everyone. No one likes to pay taxes, but the CEO of Etna said that we should think of them as war bonds from WWII. Without doing that and cutting some spending, we are not going to reduce the problems we face.

    November 21, 2012 11:28 am at 11:28 am |
  10. Wire Palladin, S. F

    Rick – Once again, do you just make this crap up? Does Fox foreign owned media have a conspiracy app that we all can install?

    November 21, 2012 11:43 am at 11:43 am |
  11. Bill from GA

    Tax rates for all should go up, but also dividends and capitol gains need to be taxed the same as income. Maybe some exception for capitol gains from an IPO, but otherwise the 'investment' does not directly go to the business. Too much revenue is lost through this separate treatment of income, mainly benefiting the wealthy.

    We need to invest in our infrastructure more, also.

    November 21, 2012 11:45 am at 11:45 am |
  12. just askin

    but obama has spent 4 years leading us to the fiscal cliff so it must be a good thing. or has he lead the country astray?

    November 21, 2012 11:46 am at 11:46 am |
  13. just sayin

    Welcome to the Obama cliff America. You asked for it, you voted for it, enjoy the ride.

    .Obama tax cuts for the "rich" (and everybody else)expiring and going up,
    ..gimmick payroll tax holiday rates expiring and going up,
    ...20 new Obamacare taxes starting up,
    ....a trillion dollar yearly deficit as far as the eye can see,
    .....debt ceiling being reached again,
    ......massive unemployment,
    .......stagnant economic growth, spending cuts,
    .........calls for increased spending, oops I mean investment.

    November 21, 2012 11:49 am at 11:49 am |
  14. Wire Palladin, S. F

    Just – Did you ever thank Obama for the lowest tax rates in 50 years? If you worked for a living you would have known that.

    November 21, 2012 11:53 am at 11:53 am |
  15. Rudy NYC

    Rick McDaniel wrote:

    CNN would like people to believe that, but it is an incredible lie.
    Well, Rick, it's a far more convincing lie than anything that Fox would show....or wouldn't show.

    Last week every network, except for Fox, broadcast video clips of the CEOs walking out of the White House to stand in front of microphones and express their optimism over the productive meetings that they had with President Obama.

    November 21, 2012 11:53 am at 11:53 am |
  16. Wire Palladin, S. F

    The Bush/republican near depression of 2008 was a real fiscal cliff. By comparison, this is a speed bump.

    November 21, 2012 11:54 am at 11:54 am |
  17. Tommy G

    Wire Palladin, S. F
    Just – Did you ever thank Obama for the lowest tax rates in 50 years?
    If you worked for a living you would have known that.
    Not sure what this comment has to do with the fiscal cliff, other than we might not be there if 47% of the American people started paying their fair share of this country's expenses. No more tax free riders. If it was bad for the healthcare system, it is bad for the tax system as well. You want to live in this country then contribute to its defense, etc. Be patriotic. Pay your fair share and stop expecting future generations to pay your bills.

    November 21, 2012 12:00 pm at 12:00 pm |
  18. Anthony

    CEOs do not want 500 billions sucked out of the economy, which is what will happen if we go over the fiscal cliff. Republicans will make a deal to avert the fiscal cliff, because they have their marching orders from Wall Street. Wall Street does not want the economy to crash again, because it will get hurt too.

    November 21, 2012 12:08 pm at 12:08 pm |
  19. Ray E. (Georgia)

    Aw Humm, Yes,
    Fat Cat dirty Wall Street Taxes going up, Great unwashed jobs going down. National Debt going up. Unemployment, going up, Food Stamps going up, More Businesses either close or move off shore. The people re-elected whats-his-name, great victory. We won but what did we win? Ohoo, I think we just screw up. Is it too late to change vote?? You have enought rope yet? You may want to go ahead and hang yourself now. There is much pain coming.

    November 21, 2012 12:11 pm at 12:11 pm |
  20. John

    I hope everyone will embrace the large tax increases for the next several years. Middle income familes will be paying close to 50% of their income to the federal government in 2013 after the tax increases take effect.

    November 21, 2012 12:18 pm at 12:18 pm |
  21. Claudia, Houston, Tx

    @Wire Palladin, S.F. – Keep drilling down on them, maybe they'll get it when they loose again in 2016 because they still don't understand Americans are not interested in their crap.

    November 21, 2012 12:22 pm at 12:22 pm |
  22. PJ

    So, you've never heard of the payroll taxes workers pay, and still do not make enough to pay income taxes;
    or maybe sales taxes or property taxes (if they can afford to own property), just don't count with you?
    Most likely you will be enjoying a Thanksgiving dinner, with your family, in your home, all warm and cozy.
    How about you reflect on our military, away from home, fighting a war, deprived of their family, yet
    pay no income taxes. Their sacrifices are a lot greater than anything you whine about.
    Maybe you could consider the people who have no home due to natural diasters (Sandy), or are
    homeless. Did you contribute to a food bank this year? Will you buy a gift to donate to Toys for Tots,
    or some other organization that cares, and doesn't just sit back and whine?
    Hava a nice day!

    November 21, 2012 12:33 pm at 12:33 pm |
  23. Wire Palladin, S. F

    Tommy G – Ouch! Just kidding. I have been amazed by your inability to comprehend the mess you right wingnuts have created. I pay a 28% tax rate while Mittens pays less than 14%.

    November 21, 2012 12:36 pm at 12:36 pm |
  24. Wire Palladin, S. F

    John – Right wingnuts talk of the large tax increases by going back to the pre Bush cuts that expire because the republicans signed it into law.

    November 21, 2012 12:39 pm at 12:39 pm |