BLANKFEIN: Obama's Plan Is Very Credible And An Agreement Is Reachable

lloyd blankfein

CNBC screenshot

Goldman Sachs CEO Lloyd Blankfein described President Barack Obama’s plan to reach an agreement about the “fiscal cliff” as detailed and “very credible.”Blankfein said, of course, it’s hard to tell if a deal will be reached but “if I were involved in a negotiation like this, and everybody was purporting to be where they are, I would say that an agreement was reachable.”

Earlier on Wednesday, Blankfein said both added revenues and spending cuts should be part of a final deal to avert the fiscal cliff when large spending cuts and tax increases will take effect on Jan.1. (Read more: Everything Must Be Touched: Blankfein)

Blankfein was one of a group of corporate heads invited to the White House to discuss the looming fiscal cliff, which has resulted in a political tug of war between Republicans, Democrats and the White House.

Yahoo’s Marissa Mayer, Mutar Kent of Coca-Cola, Douglas Oberhelman of Caterpillar and Brian Roberts of Comcast, owner of NBCUniversal also traveled to Washington, D.C., to meet with Obama.

Earlier in the day, Obama advocated for a “fair and balanced” approach to the crisis saying he hoped to reach a deal by Christmas and urged Congress to move now to prevent middle-class tax increases before the new year. Republican House Speaker John Boehner said he was willing to put revenues on the table only if they are accompanied by spending cuts. (Read More: Obama: Let’s Get Fiscal Cliff Deal Before Christmas.)

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