Josh Earnest told The Hill the president took time from his vacation on Martha's Vineyard Monday to talk with Buffett about possible measures that "would spur investment and increase economic growth."
"They also talked about some measures that could address the long-term fiscal situation," Earnest said.
The president phoned Ford Motor Chief Executive Officer Mulally and discussed ways to stimulate exports and investments as well as the disruptions to the auto supply chain caused by the Japanese earthquake and tsunami, the spokesman said.
Earnest said Obama will spend the remainder of this week working through his jobs plan scheduled to be announced after Labor Day.
So far the president has called for extensions of the payroll tax holiday and unemployment benefits, the passage of trade agreements and the creation of an infrastructure bank.