Panel Weighs Deep Cuts in Tax Breaks and Spending  —  WASHINGTON — A draft proposal to be released Wednesday by the chairmen of President Obama's bipartisan commission on reducing the federal debt calls for deep cuts in domestic and military spending starting in 2012, and an overhaul of the tax code to raise revenue.

DAVID B. OFFER: Collins optimistic that moderation is key to success by Congress  —  The votes were barely counted last week before national columnists and pundits began analyzing the impact of the Republican victories.  Many predicted more gridlock.  —  “Moderate Republicans will be less likely …

More federal workers' pay tops $150,000  —  The number of federal workers earning $150,000 or more a year has soared tenfold in the past five years and doubled since President Obama took office, a USA TODAY analysis finds.  —  The fast-growing pay of federal employees has captured the attention …

House Republican: Bush ‘destroyed GOP’  —  Former President George W. Bush is no “class act,” a Republican lawmaker insisted Wednesday.  Rep. Dana Rohrabacher (R-Calif.) said Bush had “destroyed” the GOP during his eight years in office in a blunt shot at the former Republican president …

Proposed Cigarette Product Warning Labels  —  Overview  —  The Family Smoking Prevention and Tobacco Control Act (Tobacco Control Act) requires that cigarette packages and advertisements have larger and more visible graphic health warnings.  —  FDA issued a proposed rule …

Controversy over Palin's cookie comments at Pa. school  —  sarah palin, tea party, bucks county, pennsylvania, inside politics  —  Call it “Cookiegate”.  Sarah Palin is baking up a little controversy in Pennsylvania.  She was the guest speaker last night at a fundraiser at Plumstead Christian School in Plumstead Township.

Carlson sent fake ‘Olbermann’ emails to Philly columnist  —  Tucker Carlson boasted in July that his site, the Daily Caller, had bought the domain name for liberal MSNBC host Keith Olbermann.  Carlson, a conservative journalist and pundit, even said he would start using the email address keith@keitholbermann.com as a gag.

Miller sues to force exact spelling rule for write-in votes  —  JUNEAU — GOP nominee Joe Miller is asking a federal judge to keep the state from using discretion in counting write-in ballots in Alaska's hotly contested Senate race.  —  The lawsuit, filed Tuesday, comes …

Wall Street Collects $4 Billion From Taxpayers as Swaps Backfire  —  The subprime mortgage crisis isn't the only calamity Wall Street created that's upending the finances of U.S. states and cities.  —  For more than a decade, banks and insurance companies convinced governments and nonprofits …

Interior inspector general: White House skewed drilling-ban report  —  The White House rewrote crucial sections of an Interior Department report to suggest an independent group of scientists and engineers supported a six-month ban on offshore oil drilling, the Interior inspector general says in a new report.

LaHood Threatens to Take High Speed Rail Stimulus from OH, WI  —  My favorite cabinet secretary is the one who knows how to play hardball with Republican obstructionists, who knows the leverage he holds and is not afraid to use it.  I guess that's because he's the only Republican in the cabinet*.

Chris Christie Skeptical That Global Warming Is Caused By Humans  —  WHAT'S YOUR REACTION? … WASHINGTON — New Jersey Governor Chris Christie has developed a reputation for endearing political bluntness.  But comments he reportedly made about global warming on Tuesday afternoon do seem …

Obama officials moving away from 2011 Afghan date  —  WASHINGTON — The Obama administration has decided to begin publicly walking away from what it once touted as key deadlines in the war in Afghanistan in an effort to de-emphasize President Barack Obama's pledge that he'd begin withdrawing U.S. forces …

John Boehner to fly commercial as speaker  —  House Minority Leader John Boehner (R-Ohio) said Wednesday he intends to take commercial flights home when he moves up to speaker in the new Congress.  —  “Over the last 20 years, I have flown back and forth to my district on commercial aircraft …

Lou Dobbs joining Fox Business Network  —  Just about a year to the day that he left CNN, Lou Dobbs is returning to cable news, this time as host of his own show on News Corp.'s Fox Business Network.  —  Fox Business Network is expected to announce that it has signed Dobbs as early as Wednesday afternoon.

Room at the top?  Not for young Dems  —  A younger generation of Democrats is chafing at being asked to stand aside and let a triumvirate of elders keep their leadership positions in the wake of a catastrophic midterm election result.  —  Barring an unexpected shake-up …

Why Rush to Cut Nukes?  —  THE sweeping Democratic midterm losses last week raise serious questions for President Obama and a lame-duck Congress.  Voters want government brought closer to the vision the framers outlined in the Constitution, and the first test could be the fate of the flawed …

Matthews: Had You Seen This Hillary Clinton in 2008 She Might Be President  —  Chris Matthews is suddenly getting a thrill up his leg for somebody other than Barack Obama.  —  On Tuesday's “Hardball,” before playing a video clip of the Secretary of State joking around with some comedians in Australia …

Liberalism  —  Jon Chait had a good post this morning about how there's no contradiction between Barack Obama praising the liberalization of the Indian economy and also being a liberal in the US political context.  Indeed, one hint might be that the letter-string “l-i-b-e-r-a-l” occurs in both terms.

Student tuition fee protest breaks into Conservative HQ  —  Angry scenes at 30 Millbank at student fees protest  —  There have been violent scenes as tens of thousands of people protested against plans to treble tuition fees and cut university funding in England.