Following Obama's press conference, the future first family makes a surprise stop at Saint Columbanus Catholic Church on the South Side. They distribute chicken in plastic bags to surprised Chicagoans. Pool report: "Many of them lit up; some shrieked with delight and hugged one or more of the Obamas." Later, Obama visits students at the adjoining school and takes a few questions. Read pool report here. Permalink
The president-elect makes his third appearance this week on the economy in Chicago. Names former Fed chairman Paul Volcker to head a new White House panel designed to boost the economy and stabilize financial markets. Click above to watch a clip. Read Obama's prepared comments, and read the transition release here. Says his goal in staffing his economic team is to "combine experience with fresh thinking." TIME's Justin Fox: "Given Volcker's history, it is awfully interesting." RNC response: "He fails to explain how he will pay for massive spending increases outside of raising taxes...." Permalink
Spending drops by 1% in October-- the most since 2001. Bloomberg: "The biggest consumer spending slump in three decades is likely to persist as home prices fall and job losses mount...." Permalink
The president conducts the annual turkey pardon in the White House Rose Garden, absolving two birds-- one at the ceremony and one kept at "an undisclosed location." Read his remarks here. Permalink
Jon Favreau, 27, is decamping from Chicago for Washington, D.C. Permalink
The Democrat loses his bid Wednesday to have certain absentee ballots counted in his Senate race. As of Tuesday night, Coleman leads Franken by 238 votes. Permalink
The former first lady had laparoscopic surgery in Houston to repair a perforated ulcer. The 83-year-old is expected to remain in the hospital until next week. Bush at Wednesday's turkey pardoning: "I'm thankful for the fact that my mother is doing well." Permalink
During their visit to the White House, Barbara and Jenna Bush showed Sasha and Malia Obama the executive mansion's "special tricks," Laura Bush says. They demonstrated how to slide down the solarium ramp on their rear ends, and helped the younger girls jump onto a tall bed. Permalink
The Bushes -- spending the holiday at Camp David -- will chow down on free-range roast turkey, cornbread dressing and pumpkin mousse trifle Thursday. Read the full menu here. Permalink
"I think that if you are already worth tens of millions of dollars, and you are having to lay off workers, the least you can do is say, I'm willing to make some sacrifice as well," the president-elect tells Barbara Walters on her ABC News special. Click above to watch. Airs Wednesday evening at 10 pm ET/PT. Permalink
The number of Americans seeking first-time jobless benefits declined slightly last week, down 14,000 to 529,000. However the four-week average is the highest since 1983. Permalink
TIME's Joe Klein examines Bush's final days in office in this week's column. Permalink
HALPERIN'S TAKE: The five most important people in American politics right now -- who aren't Barack Obama. Permalink
The president-elect starts the day with a trip to the gym, before heading to Hilton Chicago for economic presser. Later, he answers a question on Thanksgiving plans before arriving back at his Chicago home. Permalink
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