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When Obama first tried his hand at playing nice with congressional Republicans with the tax cut compromise, his displeasure at dealing with the GOP was obvious.
The Fed's monetary easing was intended to keep borrowing costs low and spurring growth, but that has run headlong into the tax cut compromise, which could increase borrowing costs for the government.
The chamber cheered the bipartisan tax cut compromise that Mr. Obama reached with Republicans in the lame-duck session of Congress, the completion of a United States-South Korea trade deal and the recent appointment of William M. Daley, a former business executive, as White House chief of staff.
They are unrelated to the extra weeks of unemployment benefits that Congress agreed to pay for in the stimulus, and then extended late last year as part of the tax cut compromise — those extended weeks are paid for with federal money.
The president reached a tax cut compromise with Republicans by defying his liberal base, then won repeal of "don't ask, don't tell" on Saturday when a number of moderate Republicans joined Democrats to end the ban on gays and lesbians serving openly in the military.
Weeks after his self-described "shellacking" in the November elections, Obama won lopsided approval of a tax cut compromise with Senate Republicans, and the Senate is expected to deliver his top foreign policy goal later today: ratification of a new nuclear arms treaty with Russia.
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Afterward, he adapted by striking a tax-cut compromise with the Republican leaders who suddenly shared power with him.
Mr. Reid boasted that this month's tax-cut compromise brought "some of my greatest work" - because of what he didn't do.
In the lame-duck session of Congress, that angst fuels the rebellion by House Democrats against the tax-cut compromise President Obama struck with Republican leaders.
WASHINGTON - Step 1 for Congressional Republicans, in pursuing their perceived election mandate, was the new spending-cut compromise with President Obama, reached Friday.
Economists were raising their growth projections, consumer confidence was improving and a tax-cut compromise in Congress was putting more cash into pocketbooks.
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