White House Press Secretary Robert Gibbs believes Democratic electoral defeats in New Jersey and Virginia say nothing about President Obama's standing with the American people.

Ed Henry| BIO
CNN Senior White House Correspondent

White House Press Secretary Robert Gibbs dismissed Democratic electoral defeats in New Jersey and Virginia as "two very local elections" that say nothing about President Obama's standing with the American people right now.

"It's hard to pick national trends out of local elections," Gibbs told reporters at a Wednesday briefing with reporters just hours after incumbent Gov. Jon Corzine was knocked out despite Obama's two appearances in New Jersey on Sunday. Obama previously campaigned for Creigh Deeds, the Democratic candidate for governor in Virginia, who also lost his bid.

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President Obama and Iraqi Prime Minister Nuri al-Maliki posed for a picture in the Oval Office last month.

Candy Crowley
CNN

On that unusually balmy Chicago night a year ago, the candidate who campaigned on what he called the "fierce urgency of now" became the president-elect who needed time.

"The road ahead will be long. Our climb will be steep. We may not get there in one year or even in one term," Barack Obama told the crowd in Grant Park. And he still needs time to turn a myriad of campaign promises into policy.

The list of the undones is long, varied and mostly difficult - immigration reform, new financial market regulations and a game-changing energy bill.

And compounding problems on the president's lengthy to-do list is that 2010 is an election year, generally an inefficient time for lawmaking.

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President Obama, pictured, giving his inaugural speech.

Erin Evans
The Root

Some say President Obama’s inaugural speech fell short of expectations. But history may reveal that it shifted expectations for us all.

Some say President Obama’s inaugural speech fell short of expectations. But even Lincoln’s best speeches were better in the reading than in the reciting. History may reveal it shifted expectations for us all.
Some say President Obama’s inaugural speech fell short of expectations. But history may reveal that it shifted expectations for us all.

“Say it plain, that many have died for this day. Sing the names of the dead who brought us here, who laid the train tracks, raised the bridges, picked the cotton and the lettuce, built brick by brick the glittering edifices they would then keep clean and work inside of.”
—Elizabeth Alexander, “Praise Song for the Day”

African Americans comprised nearly half of the audience at Lincoln’s second inaugural address. As Lincoln spoke to the crowd, he made the astonishing suggestion that perhaps God had willed that the Civil War would continue, “until all the wealth piled by the bond-man’s 250 years of unrequited toil shall be sunk, and until every drop of blood drawn with the lash, shall be paid by another drawn with the sword.” It was the day that Lincoln became the black man’s president.

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Barack Obama's team says Tim Geithner, left, quickly addressed the mistakes he made.

The Wall Street Journal

Washington is abuzz over Treasury Secretary-designate Timothy Geithner's $34,000 self-employment tax "mistake." The brouhaha has prompted a second delay for Mr. Geithner's confirmation hearing, which was originally scheduled for Friday but will now be put off until after the inauguration.

When he does appear, Senators will want to know how a reputed financial wizard could have overlooked his Self-Employment Tax liability for four years. All the more so because he had signed a document from his employer at the time, the International Monetary Fund, certifying "that I will pay the taxes for which I have received tax allowance payments." Democrats are saying this is no big deal, but if that's true then perhaps they should consider applying their tax absolution a little more broadly.

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Editor's Note: Phil Elliot says he is a registered Republican, but remains undecided in this election. He asked a question at last night’s presidential debate. Here's what he told us about the experience. 

Phil Elliott
Registered Republican
Undecided Voter

What a privilege to live in the United States and be asked to participate in one of the debates! It was a full day's schedule for those who had the opportunity to sit on the stage at Belmont University. I was honored to be able to ask the candidates how the current economic crisis will affect our Nation's ability to act as a peacemaker in the world. The basic answer was: For a strong military we need to have a strong economy. Both candidates presented several options for military actions but I had hoped to hear more about diplomacy, consensus building and working in concert with other nations. The economy is obviously in the forefront but what about other issues that are important but seemingly not so urgent.
 
I guess I was hoping for that elusive flash of brilliance that would give us all hope for a more peaceful world.
OK – back to reality – Neither Sen. Obama or Sen. McCain knew the questions that would be asked and it seemed like most of the time they would just use the question as a starting point to say what they had already determined to say -some of which we've heard before. I thought they both carried themselves well. Sen. McCain seemed believable when he would say "I know how to do this"
 
It was an incredible experience for me to be in the same room. And it was inspiring to be around Tom Brokaw. He spent some time with our group in the morning preparations. I'm still not 100% sure who will get my vote but am profoundly grateful to have been involved in this process.

Editor's Note: Frank Sesno co-moderated last week's "The Next President: A World of Challenges; 5 former Secretaries of State share what advice they have for “The Next President.” (WATCH HERE) Frank shares his thoughts on the first Presidential debate:
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Watch Sen. John McCain and Sen. Barack Obama debate the financial crisis and foreign policy in the first Presidential debate

Frank Sesno | BIO
CNN Special Correspondent

Okay. So the debate featured a few good moments but no knock-out blows. McCain attacked Obama’s experience and Obama challenged McCain’s judgment. But both candidates left a lot out. Partly because the time and questions were limited. Partly because they wanted to.

Let’s start with Iran.

John McCain didn’t say what he’d actually do if the Iranians called up and said, “Hey, we’re ready to talk. You don’t trust us and we don’t trust you but we’ll try this one again as long as you give us a little respect.” Just how would President McCain handle that call? Take it? Ignore it? Say he’d talk but only after the Iranians sign a friendship pledge and shut down their nuclear program? (We know that when a similar missive came in 2003, the Bush administration didn’t even write back.) For all the discussion about conditions and pre-conditions, just how does John McCain propose to deal with Tehran?

Senator, your answer please.

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