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Obama and Boehner Get a Chance for a Do-Over

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Here’s an anecdote to guide everyone’s thinking about the economy over the next few months. In January 2009, a newly inaugurated President Barack Obama invited Republican leaders in for a chat. When he resisted their call for tax cuts, the president clumsily -- to his audience, arrogantly -- reminded them that he had won and their guy had lost.

The Oval Office session turned icy cold, setting the tone for four years.