Wednesday, November 12, 2008

Obama, Bush talk business




UNITED STATES' president-elect Barack Obama met President George W Bush for face-to-face talks at the White House Monday, with help for the ailing US auto industry reportedly a top issue.

Obama, who routed the incumbent's fellow Republican John McCain in the November 4 election, made the visit as part of preparations ahead of his swearing in as president on January 20.

The carefully choreographed political truce came as Obama's advisers pored over eight years of Bush decisions with an eye to what policies should be rolled back.

Bush decisions that could be reversed include curbs on federal funding for embryonic stem cell research and moves to open new lands to oil drilling.

The president and the president-elect met privately without note takers for about an hour in the Oval Office.

Obama's spokesman Robert Gibbs would only say that the two had discussed the proposed economic stimulus package, the difficulties of the auto industry, housing foreclosures and foreign policy issues.

But The New York Times, citing unnamed people familiar with the discussion, reported yesterday that Obama had asked Bush for immediate aid for the struggling US auto industry - and that Bush had said he could support that move in exchange for approval of a free-trade agreement with Colombia, currently stalled by Democrats in Congress.

Bush officials have been reluctant to grant ailing US automakers access to the 700-billion-dollar financial system bailout fund, even though the Democrats say the government has the authority to do so.

However neither Obama nor the Democrats in Congress seem willing to bend on Colombia, the Times wrote.

US labor unions, who are among the Democrats' core constituents, oppose the agreement because of the numerous murders of trade union members at the hands of right-wing paramilitary squads. Some commentators say these death squads are often linked to the Colombian armed forces.

Obama and wife Michelle Obama arrived about 10 minutes early for their two-hour White House visit. The president and First Lady Laura Bush warmly welcomed the Obamas at the South Portico, a gateway to the mansion for many world leaders.AFP

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