Obama says not able to overhaul tax system, entitlements in two weeks-BBG-TV

WASHINGTON Tue Dec 4, 2012 12:56pm EST

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WASHINGTON Dec 4 (Reuters) - President Barack Obama said on Tuesday there is not enough time this year to come up with an overhaul of the U.S. tax system and entitlement programs as Republicans want as a condition for an agreement to avoid the fiscal cliff.

Obama told Bloomberg Television that despite weaknesses in Europe and Asia, he believes the U.S. economy is "poised to take off."

The president added he is considering bringing a top business executive onto his economic team, but that the Senate confirmation process can be so difficult that some business executives shy away from government service.

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