The Note’s Must-Reads for Friday, November 12, 2010

Nov 12, 2010 4:10am

Compiled by ABC News Digital News Associates and Desk Assistants JAYCE HENDERSON, CLAUDIA MORALES, JACQUELINE NG FERNANDEZ, CARRIE HALPERIN AND JACOB BECKMAN

PRESIDENT OBAMA AND ADMINISTRATION
The Wall Street Journal’s Julia Angwin: “Watchdog Planned for Online Privacy” The Obama Administration is preparing a stepped-up approach to policing Internet privacy that calls for new laws and the creation of a new position to oversee the effort, according to people familiar with the situation. LINK

USA Today: “Some Democratic donors ready to spend heavily to defend Obama” Some Democratic donors are ready to raise and spend unlimited amounts of money for campaign ads in the 2012 presidential race — now that the White House has signaled it is open to such aggressive tactics LINK

The Washington Times’ Patrice Hill: “Germany rebuffs Obama on trade gap” German Chancellor Angela Merkel on Thursday rejected a U.S. proposal to try to cap global trade imbalances while the world’s other export powerhouse, China, shunned U.S. calls for speedier economic reform. LINK

The New York Daily News’ Kenneth R. Bazinet: “Body language expert says Barack Obama runs the show in meeting with Chinese Premier Hu Jintao” President Obama was a cool customer Thursday during a high-stakes powwow with Chinese Premier Hu Jintao in South Korea. LINK

CONGRESS
The New York Time’s Jennifer Steinhauer: “To Congress With Mantra, ‘Why Not Me?’” Bobby Schilling has spent the last decade perfecting his pizza crust. (The secret? A hint of whole wheat flour in the dough.) But this year, like dozens of other previously apolitical Americans, the cheerful father of 10 looked at the Congressional candidate arena and got to thinking, “Hey, why not me?”  LINK

NANCY PELOSI
The Washington Post’s Karen Tumulty: "Pelosi for House minority leader: A bad idea or just what the Democrats need?”Two nights after the midterm elections, New Jersey Rep. Rob Andrews saw a voice mail on his cellphone from the soon-to-be-former speaker of the House. Andrews had a pretty good hunch what Nancy Pelosi wanted to talk about. So when he called her back the next morning, he got right to the point.  LINK

ECONOMY
Bloomberg’s Tony Czuczka and Michael Forsythe: “G-20 Grinds Toward Currency Accord After Overnight Talks” Group of 20 leaders agreed to develop early warning indicators to head off economic turmoil as emergency talks on Ireland’s debt crisis clouded their summit. Finance ministers from the G-20 will work next year on a set of so-called indicative guidelines designed to identify large economic imbalances and actions needed to fix them, according to a joint statement released as the Seoul summit came to a close.  LINK

Bloomberg’s Matt Viser: “Bay State could lose $200m in fundingMassachusetts could lose more than $200 million in funding this year — and quite possibly similar amounts each year for the foreseeable future — as the incoming Republican congressional leadership and President Obama take aim at earmarked spending projects. LINK

The Hill’s Russell Berman: “House Dem leaders’ reactions to fiscal panel report differ sharply” House Democratic leaders differed sharply in their reactions to an outline of deep spending cuts and tax hikes offered by leaders of the president’s bipartisan fiscal commission. LINK

The Los Angeles Times’ Shane Goldmacher: “California Legislature called into special session on budget deficit” Lame-duck Gov. Arnold Schwarzenegger declares that the state faces a fiscal emergency after its chief budget analyst says the shortfall has grown to $25.4 billion. LINK

DON’T ASK, DON’T TELL:
ABC News’ Devin Dwyer: “Pentagon Study Finds Minimal Risk in Ending ‘Don’t Ask, Don’t Tell’” A forthcoming Pentagon study on the impact of repealing ‘don’t ask, don’t tell’ will reportedly show that most service members wouldn’t care if they had to live and work alongside openly gay and lesbian peers. LINK

2012 ELECTION:
Politico’s Jonathan Martin: “Map narrows for Obama reelection” Two years after his dramatic expansion of the electoral map paved the way to a landslide win, President Barack Obama’s reelection campaign appears likely to resemble the political trench warfare that marked the 2000 and 2004 presidential races. LINK

ABC NEWS VIDEOS:
ABC News: “Vice President Joe Biden Honors Veterans” The VP said mission has cost ‘lives’ and ‘limbs’ but not ‘spirit or courage.’ LINK
ABC News: “Egg Thrown at Rahm Emanuel” An egg is thrown at Chicago Mayoral Candidate Rahm Emanuel. LINK

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