FOX BUSINESS NETWORK’S CHARLIE GASPARINO REPORTS THAT PRESIDENT OBAMA IS REACHING OUT TO BANK EXECUTIVES ABOUT DEFICIT BECAUSE HE SEES IT AS “LEGACY ISSUE”
FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that the day after the election, “there was definitely reach out, conversations between White House officials and bank executives” about resolving the deficit because President Obama sees this as a “legacy issue.” Gasparino also discussed who might be the new Treasury Secretary, saying that White House Chief of Staff Jack Lew is the favorite, but that “Erskine Bowles is still in the running.”
Excerpts from the report are below.
On the White House reaching out to bank executives surrounding the deficit:
“On Wednesday, there was definitely reach out, conversations between White House officials and bank executives with the White House saying that the president is deadly serious about dealing with the deficit and the fiscal cliff and that he sees it as a ‘legacy issue.’ These are not acrimonious calls. The calls were both ways, they were going into the White House and coming out of the White House and these were senior people inside the Obama administration telling the bank executives that yes we are serious, we are going to deal with this in some way.”
On who might be the new Treasury Secretary:
“Odds-on favorite for Treasury Secretary still is Jack Lew, chief of staff, but people say Erskine Bowles is still in the running.”