Deloitte Encouraged by White House Discussions Over Fiscal Cliff

By Kalen Smith, Big4 Blogger

Joe Echevarria, CEO of Deloitte, recently stated that White House discussions over the fiscal cliff are encouraging. Echevarria said that President Obama is starting to become increasingly optimistic about the prospects for preventing the country from going over the fiscal cliff. He also said that the president is getting a better sense of what steps need to be taken to prevent the crisis from erupting.

Echevarria was one of fourteen CEO’s of large organizations who met with the president earlier this week. He said that the discussions were very enlightening and the business leaders are optimistic that he will be able to avoid the issues associated with the fiscal cliff at the end of the year.

Meetings from the discussion showed that the president feels that the fiscal cliff will need to be addressed with both a series of spending cuts and tax increases. Echevarria and the other attendees said that lawmakers probably won’t be able to find a solution that will be ideal for both parties. However, they feel that the president and Congress will probably be able to come up with a resolution that can prevent the country from entering a new recession and causing significant pain for Americans receiving government assistance.