Wall Street bankers have been told by the White House that President Obama is serious about deficit reduction and views it as a “legacy” issue for his administration, sources told the FOX Business Network.
Talks between Wall Street executives and the administration began almost immediately after the President’s re-election and the discussions have been largely cordial, despite talk that banks are bracing for a new round of tougher regulations. At least for now, there are no signs of acrimony and discussions with executives have been cordial, a banker familiar with the talks says.
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The man who added more debt to our nation than any president every with trillion dollar deficit every year. Now he wants deficit reduction to be his "legacy". Maybe if we are lucky he will only raise it to 20 trillion instead of 25 trillion in his second term.