The Note: 'Lift-off':

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Also: "The race is currently a virtual tie, with the campaigns now separated by a small handful of delegates, barely 1% of all the delegates to the Democratic Convention." (It's actually more like 2 percent, though we get the drift.)

(Here's a game -- how many "facts" on this new site are actually "fictions"?)

But the margin of victory in Wisconsin was dispiriting to Clinton insiders; post-game spin notwithstanding, she did not write off the state, and there was no reason on paper that she couldn't defeat Obama there.

"It's going to be a rough day tomorrow with party activists and leaders," one Clinton insider tells ABC's Kate Snow. "We now have two weeks and two debates to win the big states."

"His victory was big and broad," Craig Gilbert writes in the Milwaukee Journal Sentinel. "Two, it came in a 50/50 battleground -- the closest state in the country in 2004 -- that is a virtual must-win for Democrats in November. Three, it came in the kind of environment that Clinton herself has said provides added legitimacy -- a big-turnout primary, rather than the kind of low-turnout caucuses that Obama has dominated this year by out-organizing his opponents."

Obama is the frontrunner, but that doesn't even tell the whole story of the position he's in. "The Democratic nomination is now Barack Obama's to lose," AP's Ron Fournier writes. "Hillary Rodham Clinton can't win the nomination unless Obama makes a major mistake or her allies reveal something damaging about the Illinois senator's background. Don't count her out quite yet, but Wisconsin revealed deep and destructive fractures in the Clinton coalition. It's panic-button time."

Here's one form the button is taking: "Allies of Hillary Clinton plan an expensive, stealth campaign to buttress her standing in the must-win states of Ohio, Texas and Pennsylvania," The Atlantic's Marc Ambinder reports.

"They're canvassing Clinton donors for pledges of up to $100,000 in the hope of raising at least $10M by the end of next week. The money will be placed in the account of a political committee organized under section 527 of the tax code."

The San Francisco-based 527 will be called the American Leadership Project, ABC's Jake Tapper reports.

But once the wave has formed, it's hard to turn the tide. Obama "broke deep into Clinton's base," Paul Kane and Jon Cohen write in The Washington Post.

"In a state in which nearly 9 in 10 Democratic voters are white, Obama won more than 6 in 10 of the votes of white men, while Clinton held only a narrow edge among white women. And he defeated her by double-digit margins among those voters with family incomes less than $50,000 and among those without college degrees."

The New York Daily News' Thomas M. DeFrank: "Finally, there's some happy news for Hillary Clinton: The most abysmal stretch of the primary season for her limping candidacy is over. Unfortunately, the damage may be irreparable."

"These are real danger signs for Sen. Clinton," ABC's George Stephanopoulos reported on "Good Morning America" on Wednesday. "It's not going to be enough for her to win now in Texas and Ohio. In order to catch up in the delegates now, she's going to have to beat him by the kind of landslides he's been beating her. . . . He's been blowing her out across the board."

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