Obama and the billonaires brainstorm about economy

The economy got a double dose of good news today — retail spending was up foObama+Tax+Cuts.jpgr the fifth straight month in November and inflation remains in check.

But the best news for the economy may have been President Obama’s meeting at the White House with some folks who know how to make money — Warren Buffett and Bill and Melinda Gates.

Obama and the billionaires discussed ways to boost the economy, as well as the “Giving Pledge,” an iniative backed by Buffett and the Gates to encourage the wealthy to give big sums to charity.

The conversation was undoubtedly interesting. I hope the prez picked up some good ideas.

It’s interesting to note that Buffett supports letting the Bush-era tax cuts for the rich expire. Obama used to hold that position until he struck a deal with the Republicans.

Photo: President Barack Obama speaks about the tax cut bill at the White House on Monday, Dec. 13, 2010, in Washington. (AP Photo/J. Scott Applewhite)