11/10 Roundup: In the Oval Office, Re-Bailouts, Arnold's Love Life

Leader: In the Oval Office

- At the top of President-elect Obama's agenda on day one might be undoing some of the more pernicious policies of the Bush administration. Edward Luce of the FT writes on the "Big Bang" reform package that could be coming soon.

- Barack Obama will set foot in the Oval Office for the first time today, in a meeting with President Bush.  Historically, Time writes, these meetings aren't always friendly and cheery. Indeed, says the NY Times, it could be downright awkward.

- Paul Krugman writes that President-elect Obama should take FDR as his model, and be bold. E.J Dionne writes that President-elect Obama should take Reagan as his model, and be bold.

Economy

- AIG is getting re-bailed out: The Treasury and Fed announced that the intitial $123 billion bailout has been scrapped in favor of a $150 billion bailout.

- Rob Shapiro is quoted in the Chicago Tribune on the coming stimulus package. Obama should use it "to make down payments on the long-term investments he's committed to already for the health of the economy."

Politics

- I've been walking around at cocktail parties this week insisting I had a lot to do with Obama's victory.  Evidently, I'm not the only one, as "Unions, Hispanic groups, the Netroots, progressive organizing coalitions, single women, working women, youth, the religious left" and others are doing the same thing.

- Obama has thrown his support behind friend and ally Valerie Jarrett to replace him in the Senate.

- The Milwaukee Journal Sentinel has a story on how Obama's online campaign will carry over into his presidency. Simon is quoted: "There's going to be a radical reinvention of the presidency under Barack Obama... to create a whole different relationship between the American people and the president." AFP has a similar story.

- In the LA Times, Simon is quoted on a long-term strategy for the Democrats. Particularly by keeping the Hispanic vote, Democrats could ride their current coalition for 20 or 30 years. And Texas is next.

International

- China has unveiled a stimulus package of its own, this one for $586 billion. Comparisons have been drawn to the New Deal, as the package will ease credit restrictions, expand social welfare services and initiate new infrastructure spending. 

- The NY Times reports on military raids the US armed forces have been carrying out over international borders to go after elements of the al Qaeda network. 

One More Thing

- Upshot of the election for California's governor: Schwartzenegger can sleep with his wife again.