Deficit to Hit All-Time High  —  Obama's $3.8 Trillion Budget Forecasts a $1.6 Trillion Shortfall for 2010 Before It Drops  —  WASHINGTON—President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year …

Sarah Palin endorses  —  National political icon and conservative leader Sarah Palin has endorsed Dr. Rand Paul in his bid for United States Senate from Kentucky.  The Paul campaign has received a generous donation from Governor Palin's PAC.  —  Sarah Palin has clearly seen that Rand Paul supports smaller …

Election 2010: Florida Republican Primary for Senate  —  Florida GOP Senate: Rubio 49%, Crist 37%  —  Former state House Speaker Marco Rubio has now jumped to a 12-point lead over Governor Charlie Crist in Florida's Republican Primary race for the U.S. Senate.

Frank Luntz Pens Memo To Kill Financial Regulatory Reform  —  WHAT'S YOUR REACTION?  —  Nine months after he penned a memo laying out the arguments for health care legislation's destruction, Republican message guru Frank Luntz has put together a playbook to help derail financial regulatory reform.

Ponzi on the Potomac  —  The U.S. attorney general recently announced that the Justice Department is beefing up its efforts to fight financial fraud such as Ponzi schemes.  Good.  The agency should start by reviewing the spending habits of the federal government, which is running the largest Ponzi scheme our country has ever seen.

Media Notes: Jon Stewart's Obama barbs on ‘The Daily Show’ are creating buzz  —  Days before the 2008 election, Jon Stewart jokingly asked Barack Obama whether his “white half” would have trouble making a decision in the voting booth.  —  “Yeah,” the candidate said, “I've been going through therapy to make sure that I vote properly.”

Bill Watterson, creator of beloved ‘Calvin and Hobbes’ comic strip looks back with no regrets  —  This marks the 15th year since “Calvin and Hobbes” said goodbye to the comics pages.  Creator Bill Watterson, who grew up in Chagrin Falls and still makes Greater Cleveland his home …

Dem. senators spent weekend with bank, energy, tobacco lobbyists  —  Twelve Democratic Senators spent last weekend in Miami Beach raising money from top lobbyists for oil, drug, and other corporate interests that they often decry, according to a guest list for the event obtained by POLITICO.

The Obama Spell Is Broken  —  Unlike this president, John Kennedy was an ironist who never fell for his own mystique.  —  The curtain has come down on what can best be described as a brief un-American moment in our history.  That moment began in the fall of 2008, with the great financial panic …

‘Iran will deliver telling blow to global powers on Feb. 11’  —  Iranian President Mahmoud Ahmadinejad says the nation will deliver a harsh blow to the “global arrogance” on this year's anniversary of the Islamic Revolution.  —  “The Islamic Revolution opened a window to liberty for the human race …

2/1: Does MA Spell Trouble for NY Dems?  —  In the wake of Republican U.S. Senator-elect Scott Brown's win in Massachusetts, a notable proportion — 45% — of registered Democratic voters in New York State say they are worried that a Republican will defeat the state's Democratic senators running for office in November.

Gates Sacks Stealth Jet Chief, Blasts ‘Troubling Record’ of Crucial Plane  —  If the Pentagon doesn't get its Joint Strike Fighter just right, the U.S. military is screwed.  Which is why its a such serious, serious problem this stealthy, all-purpose jet has had such a “troubling performance record …

Obama to Seek Sweeping Change in ‘No Child’ Law  —  The Obama administration is proposing a sweeping overhaul of President Bush's signature education law, No Child Left Behind, and will call for broad changes in how schools are judged to be succeeding or failing, as well as for the elimination …

Dems Say Sen. Ben Nelson's Deal Was Setback For Health Care  —  Democrats are privately admitting the deal they made with Sen. Ben Nelson on Medicaid funding for Nebraska was a major factor in souring the America people on the health care reform bill.  —  Senate leadership inked a deal …

Unemployment Forever  —  Ryan Avent brings us the bad news from Christina Romer's budget talk: … Some historical context:  —  We're looking, in other words, at years worth of “recovery” during which the unemployment rate will be at what would normally be deemed recession levels.

Getting real about Congress  —  “No single vote by any single senator could possibly illustrate everything that is wrong with Washington today,” writes Fred Hiatt.  “No single vote could embody the full cynicism and cowardice of our political elite at its worst, or explain by itself why problems do not get solved.”

Sarah Palin Uses PAC to Buy Her Own Book  —  Political Action Committee Paid More than $60,000 for Copies of ‘Going Rogue’ in Late 2009  —  Sarah Palin has been using her political action committee to buy up thousands of copies of her book, “Going Rogue,” in order to mail copies of the memoir to her donors …

Pelosi's Children and Grandchildren Used Military Jets As Cross-Country Shuttle Service So They Could Avoid Dealing With the Rabble … Is it a legitimate use of military jets to transport the Speaker of the House and her favored Congressional coterie for routine travel?

CREW URGES PRESIDENT AND MEMBERS OF CONGRESS NOT TO ATTEND SHADOWY FELLOWSHIP'S NATIONAL PRAYER BREAKFAST  —  1 Feb 2010 // Washington, D.C. - Today, Citizens for Responsibility and Ethics in Washington (CREW) urged President Obama and all members of Congress not to attend …

The Quiet Revolution  —  Obama has reinvented the state in more ways than you can imagine.  —  These days, liberals don't know whether to feel betrayed by or merely disappointed with Barack Obama.  They have gone from decrying his willingness to remove the public option from his health care plan …

Party ID: Despite GOP Gains, Most States Remain Blue  —  Massachusetts, Rhode Island most Democratic; Utah, Wyoming most Republican  —  PRINCETON, NJ — Rhode Island and Massachusetts — along with the District of Columbia — were the most Democratic U.S. states in 2009, based on their residents' stated political affiliations.

Volcker rule unlikely to move forward in Senate, lawmakers say  —  This article is provided to FT.com readers by dealReporter—a news service focused on providing insightful intelligence on event driven situations to investors. www.dealreporter.com  —  A proposal by former Federal Reserve …

Free James O'Keefe  —  In case you wonder what the future is for justice and law enforcement and media control in this country, take a look at two cases.  —  During the last Presidential election, a gang of men calling themselves Black Panthers showed up at a polling place in Michigan.

The Hazards Of Loyalty  —  Hypocrisy, hubris and Rielle Hunter.  —  For a man whose first—and only—winning election campaign was waged against an inarticulate septuagenarian hog farmer, John Edwards made quite a splash when he arrived in Washington in 1999 as the new junior senator from North Carolina.

U.S. Attorney Reviews Call for Probe of SEIU Activities with White House, Congress  —  (CNSNews.com) - Federal prosecutors are reviewing a request for an investigation into whether Andy Stern, president of the Service Employees International Union (SEIU), violated the Lobbying Disclosure Act …

Lloyd Blankfein of Goldman Sachs ‘expecting $100 million bonus’  —  Goldman Sachs, the world's richest investment bank, could be about to pay its chief executive a bumper bonus of up to $100 million in defiance of moves by President Obama to take action against such payouts.