Obama seeks ideas for economic growth from billionaires Buffett, Gates

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Obama seeks ideas for economic growth from billionaires Buffett, Gates

By The Associated Press | The Canadian Press – 15 minutes ago

WASHINGTON - President Barack Obama invited two of the world's richest men to

the White House Tuesday to discuss ways to boost the U.S. economy.

The White House says Obama's meeting with Bill Gates and Warren Buffett focused

on ideas for spurring economic growth and making the U.S. more competitive. They

also discussed opportunities to invest in innovative industries that have growth

potential.

Obama has frequently consulted with Buffett on economic issues. The billionaire

has said he favours letting the Bush-era tax cuts for the wealthiest Americans

expire, a position Obama also held before striking a with congressional

Republicans to allow the tax cuts to continue.

Gates' wife, Melinda, also took part in the Oval Office meeting. The Gates' and

Buffett have launched an initiative to invite the wealthiest individuals and

families to commit to giving the majority of their wealth to philanthropy.