The GOP's Alternative Budget  —  President Obama offers us the option of European big government.  —  Today, the House of Representatives will consider two budget plans that represent dramatically different visions for our nation's future.  —  We will first consider President Barack Obama's plan.

Barack Obama's gift for the Queen: an iPod, your Majesty  —  Barack Obama met the Queen at Buckingham Palace today and gave her a gift of an iPod loaded with video footage and photographs of her 2007 United States visit to Richmond, Jamestown and Williamsburg in Virginia.

Sources: Sen. Stevens Conviction To Be Voided  —  Audio for this story will be available at approx. 9:00 a.m. ET  —  · NPR's has learned that the Justice Department will drop all charges against former Sen. Ted Stevens of Alaska.  —  A jury convicted Stevens last fall of seven counts …

Joe The Plumber Admits He Knows “Little” About EFCA, Gets Jeered By Workers  —  Oof.  Looks like Joe the Plumber's campaigning against the Employee Free Choice Act in Pennsylvania didn't go so well.  —  Mr. Plumber, whose appearances were organized by the anti-EFCA group Americans for Prosperity …

PROMISES, PROMISES: Obama tax pledge up in smoke  —  Featured Topics: - Barack Obama - Presidential Transition  —  WASHINGTON - One of President Barack Obama's campaign pledges on taxes went up in puffs of smoke Wednesday.  —  The largest increase in tobacco taxes took effect despite Obama's promise …

Democrats Predict 210-Vote Victory in NY-20  —  Venture capitalist Scott Murphy (D) will win the special election in New York's 20th district by 210 votes after all outstanding absentee and military ballots are counted, according to projections made by Democratic Party officials and obtained by the Fix.

We're Not Keeping Score, but...  LONDON — Is President Obama trying to muzzle his press corps?  —  The standard form during “joint press availabilities” — bureaucratic lingo for press conferences where leaders from two different countries stand next to each other and take questions from reporters …

David Letterman Calls Bill O'Reilly a ‘Goon’ During Heated Interview  —  Whenever Bill O'Reilly appears on the David Letterman show you just know sparks are going to fly due to Letterman's inability to keep his anger managed and last night's show did not disappoint although it seems that Letterman …

Bachmann Talks Up Anti-Global Money Amendment, Gets 30 Cosponsors  —  Rep. Michele Bachmann (R-MN) appeared on Glenn Beck's TV show yesterday, to talk up her proposed constitutional amendment to stop the Obama administration from replacing the dollar with a global currency:

Retired military officers: keep ban on gays  —  NEW YORK - More than 1,000 retired military officers, including several who were top commanders, are urging President Barack Obama and Congress to maintain the law that bars gays from serving openly in the armed forces.

Barack Obama: Born in Hawaii  —  A fairly impressive internet industry has sprung up claiming that Obama was born in either Kenya or Indonesia.  This is nonsense which distracts from the broadly unexplored story of Obama's upbringing.  This kind of nonsense has emerged because the McCain campaign chose …

Harvard Derivatives Whiz Fired For Emailing Larry Summers About “Frightening” Trades?  —  A former quantitative analyst at Harvard Management Company, the university's once-vaunted endowment manager, tells the Harvard Crimson she was fired for voicing concern to then-university president Larry Summers' chief …

Koh, No?  Critics Decry Obama Nominee for State Department Legal Adviser  —  Harold Koh, President Obama's pick to become one of the State Department's top lawyers, has ignited fury among critics who say his legal views are a threat to American democracy.  —  FOXNews.com

MASTHEAD MASSACRE  —  FORBES AXES AT LEAST 20 FROM MAG AND WEB  —  RIGHT about now, U2 front man Bono is probably wondering what he's gotten himself into by buying such a big stake in Forbes Media.  —  Yesterday, the company cut at least 20 editorial positions in the latest move to stay ahead …

GM Bankruptcy?  Tell Me Another  —  The president isn't serious about reform for Detroit.  —  President Obama rightly says “sacrifices” must be made if GM is to emerge as a viable company.  But there's one sacrifice he won't make: his re-election chances, by leaving the fate of the UAW truly up to a bankruptcy judge.

Obama's Ersatz Capitalism  —  THE Obama administration's $500 billion or more proposal to deal with America's ailing banks has been described by some in the financial markets as a win-win-win proposal.  Actually, it is a win-win-lose proposal: the banks win, investors win — and taxpayers lose.

Petraeus Says Israel Might Choose to Attack Iran  —  Israel might choose to attack Iran to prevent it from developing a nuclear bomb, the top U.S. commander in the Middle East said today.  —  Army General David Petraeus told Congress that “the Israeli government may ultimately see itself …