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President Obama is clearly frustrated that having inherited an economy that was at death's door, he is getting remarkably little credit for getting it back on its feet.

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In the wake of the election, the Fed pulled off a move detected only by downtown Manhattan It quietly announced a purchase of $600 billion in Treasury securities (read: our debt) while pundits on the left and right were dissecting the role of the tea party in political life as we know it.

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With his proverbial political tail between his legs, President Barack Obama has articulated his clearest signal yet that he is open to a post-midterm compromise with newly empowered Republicans that would sustain some parts of the Bush-era tax cuts, which are set to expire at the end of 2010.

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Getting shellacked in the midterm elections has evidently motivated President Barack Obama to consider his strategy for the next two years, and he's taking the bold new step of -- wait for it -- arranging a group huddle with eight big players from the two dominant parties. Sigh.

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