1/8 Roundup: Stimul8ing, Shifting Opinions, Teddy Bear Cheney

Leader:Stimul8ing

- Despite dark projections of a $1.2 trillion deficit, President-elect Obama's stimulus plan remains, well, a plan. The CBO forecasts an additional $3 trillion in debt over the next decade, and so Obama is getting serious about reducing wasteful spending. He's promised to make reform of Social Security and Medicare programs a priority, and has hired a Chief Performance Officer, Nancy Killefer of McKinsey & Co, to scrub the budget clean.

- Obama will speak this morning, emphasizing the threat of rising unemployment rates, and will attempt to sell his stimulus plan to skeptics.  Jay Newton-Small at Time notes that the stimulus package looks an awful lot like a laundry list of Obama campaign promises, and the Blue Dogs are concerned (but persuadable) by the plans obvious abandonment of pay-go.

- David Rothkopf is worried that Washington-style groupthink has taken over in this crisis.  He supports the stimulus, but asks that we apply the Powell Doctrine to the bailout and stimulus process: Not just overwhelming force, but also clear goals and an exit strategy.

Politics

- Roland Burris is about to get his seat in the Senate, and the Democrats have come out of this kerfuffle looking pretty silly.

- Obama has had a few missteps of late, and lots of feathers are ruffled. Simon brushes it all off in the Washington Times: "Any time a new president comes to town it upsets the existing order, and that's hard for a lot of people."

- John McCain is starting a new PAC to raise money for other Republicans in his mold.  It will be called the "Country First PAC."  

- Diane Feinstein thinks Leon Panetta is a great choice to head the CIA.

International

- A troubling report from the International Red Cross detailed one horrific scene in Gaza, and accused Israel of failing to meet its obligations under international humanitarian law. As the conflict stretches to nearly two weeks, the Palestinian death toll is quickly closing in on 700, more than half of whom were civilians. 

- In the north, Hezbollah appears to be engaging in a limited manner, firing several rockets from southern Lebanon into Israel. Marc Lynch sees the conflict in Gaza as win-win for al Qaeda. Richard Haass may serve as a special envoy to the Middle East, joining Richard Holbrooke, who is almost certain to serve in the same capacity in the Indian subcontinent, and Dennis Ross, who will work in Iran.

One More Thing

- At least one segment of the economy is doing well (you'll have to click the link, this forum is too prurient to discuss the subject), though a related industry is asking for a bailout (ditto).

- According to Dick Cheney, Dick Cheney is a "warm, loveable sort." Uh huh.

- Last, can't watch Obama at 11 today? Here's a preview of what he'll say: