The unemployment rate hits a 14-year high of 6.5%. Unfortunately, we ain't seen nothin' yet.

President-elect Obama faces more than just a deteriorating economy, he also will find more than one difficult foreign policy challenge, including a possible resumption of the Putin Presidency in Russia (which would just confirm what I have thought all along, which is that Putin is the new Czar).

David Brooks and Paul Krugman have very different hopes for the new administration.

Iraqi leaders are more comfortable with making a status of forces agreement with the U.S. now that Obama will be the new President, according to this story in The New York Times. It makes sense, since the opponents of the agreement have wanted some assurances about an eventual U.S. military withdrawal. Now, with Obama, they feel more comfortable that they will get such assurances.

Contrary to expectations, turnout in the election was not substantially higher than in 2004.

Rahm Emanuel has accepted the position of new White House Chief of Staff. A good choice, I think, as the position requires a tough guy who has the President's back at all times.

One little noted fact about the election is that the New Hampshire State Senate is now a female-majority body. That's the first time it has ever happened in any American legislative body (and maybe in the history of the world, for that matter) as far as I know.