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from Tales from the Trail:

Washington Extra – Let’s do lunch

Mending fences is clearly the White House play of the week.

USA/First a visit to the U.S. Chamber of Commerce, now lunch with Republican leaders from Capitol Hill. What next?

President Barack Obama at 12:30 p.m. tomorrow will host House Speaker John Boehner and his lieutenants Majority Leader Eric Cantor and Republican Whip Kevin McCarthy (that's two of the three "Young Guns" of Capitol Hill).

Discussion will be heavy on the economy and spending. But if the Republicans are hoping for a heads-up on Obama's budget proposal, they will be disappointed. "We will save that for them and for you for Monday," White House spokesman Robert Gibbs told reporters.

(So who's going to be pumping whom for information at that table?)

They will break bread at lunch, but it's not exactly a tea party...

Take a look at today's story by Corbett Daly, Rachelle Younglai and Margaret Chadbourn in which they obtained from sources details about the administration's proposal to reduce government support of the mortgage market.

from Tales from the Trail:

Diplomatic storm leads to question: what was Wisner?

Frank Wisner created a bit of a diplomatic tempest when he went off message in Munich on Saturday and said Egyptian President Hosni Mubarak should stay in place to oversee the transition. "We need to get a national consensus around the pre-conditions for the next step forward. The president (Mubarak) must stay in office to steer those changes." SERBIA-KOSOVO/

That set the State Department and White House into scramble mode, trying to downplay Wisner's role, after actually sending him on Jan. 31 to personally deliver a U.S. government message to Mubarak to take more action in response to mass protests.

from Tales from the Trail:

Washington Extra – Fruitcake diplomacy

If only he'd sent fruitcake...

USA/President Barack Obama is clearly trying to make nice with the business community and he promised the Chamber of Commerce a new friendly era after two years of coldness.

The White House and U.S. Chamber of Commerce can see each other across a park, but until recently acted like the other was on the wrong side of the tracks.

from Christopher Whalen:

Ben Bernanke: The ‘Repo Man’ goes global

Back in October, after the meeting of the Federal Open Market Committee, the Associated Press reported that “The Federal Reserve is likely to take additional action to rejuvenate the economy and lower unemployment, an influential member of the central bank's policymaking group said.”

Of course the Fed neither rejuvenates economies nor creates jobs.  For some reason members of the media attribute magical powers to the US central bank and its employees.

from Tales from the Trail:

Washington Extra – People’s choice

The United States has decided -- it is up to Egyptians to decide.

CANADA/Anyone looking for a clear sign that the United States does or doesn't back its ally of 30 years, President Hosni Mubarak, won't find it in the official words out of Washington today.

Instead, Washington took the firm stance to perch on the tightrope -- call for Democratic reforms, stay away from public opinions about Mubarak.

from Tales from the Trail:

Washington Extra – Job prospects

The U.S. economy grew 2.9 percent in 2010, the biggest GDP gain since 2005, but still too weak to make a big dent in the unemployment rate which ended the year at 9.4 percent.

EGYPT/USAEgyptian protesters again took to the streets seeking to oust President Hosni Mubarak from the job he's held for 30 years.

from Tales from the Trail:

Obama misses walks, not leaving home without shaving

President Obama is staying neutral on the Super Bowl, dislikes the "bubble" of being president, and enjoyed (go figure) political science in college.

Those were some of the takeouts from the president's roughly 45-minute interview Thursday on the Internet site YouTube, which posed questions to him from viewers across the country.

from Tales from the Trail:

2012 possibility? The candidate speaks Mandarin

President Barack Obama was asked bluntly about the buzz that his Ambassador to China may turn into a Republican rival for the White House in 2012.

A Newsweek article about Ambassador Jon Huntsman has been seen by some as hinting at a potential run for the White House by the former Republican governor of  Utah.

from Tales from the Trail:

Guess who’s not coming to dinner with Hu

Usually politicians flock to a high-profile event like moths to a flame.

But we're learning that isn't quite the style of the new Speaker of the House.

OBAMA-CHINA/The White House is rolling out the red carpet for China's President Hu Jintao with one of the most formal of all events -- the State Dinner.

This will be only the third hosted by President Barack Obama during the two years of his presidency -- the previous ones were for the leaders of India and Mexico.

from Chrystia Freeland:

Why the Wall Street-Washington door revolves

As President Barack Obama’s new lieutenants settle into their offices in the White House, talk has turned again to the revolving door between Washington and Wall Street: William Daley, the president’s chief of staff, arrives from JPMorgan Chase, where he earned millions; Gene Sperling, the new top economic adviser, collected $887,727 from Goldman Sachs for advice on a charity project on a recent hiatus from government.

There’s nothing new about this tradition – indeed there was a time not so long ago when it seemed as if actually running Goldman Sachs was a prerequisite for serving as Secretary of the Treasury. But the triple whammy of the financial crisis, the trillion-dollar government bailout and the return of lavish bonuses to many on Wall Street while unemployment in the United States is stuck above 9 percent has cast the intimacy between political and business elites in a new, often more jaundiced light.

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