The Note’s Must-Reads for Thursday, November 11, 2010

By Jayson

Nov 11, 2010 2:58am

The Note's Must-Reads are a round-up of today's political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at www.abcnews.com

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

PRESIDENT OBAMA:
ABC News’ Sunlen Miller: “While Honoring Troops on Veterans Day, Obama Condemns North Korea” While honoring U.S. troops on Veterans Day at a U.S. Army base in South Korea, President Obama condemned North Korea, saying that the path it is on will lead to more isolation and less security. LINK

The New York Times’ Jackie Calmes: “Panel Seeks Social Security Cuts and Tax Increases” The chairmen of President Obama's bipartisan commission on reducing the national debt outlined a politically provocative and economically ambitious package of spending cuts and tax increases on Wednesday, igniting a debate that is likely to grip the country for years. LINK

The Washington Times’ David Sands: “Deficit panel’s Rx: ‘Cancer’ surgery” The chairmen of President Obama’s bipartisan deficit commission tipped their hand Wednesday, releasing a stark, sweeping proposal to rein in federal debts and deficits with cuts to spending programs, Social Security and Medicaid benefits and an increase in the retirement age over the next four decades from 65 to 68. LINK

The Los Angeles Times’ Don Lee and Christi Parsons: “U.S. on the defensive at G-20 summit” President Obama arrived in Seoul on the defensive Wednesday for a two-day meeting with leaders of the world’s biggest economies, a summit that had raised hopes of charting a common path to a more balanced global recovery but instead threatened to founder amid competing national interests. LINK

REP. JOHN BOEHNER:
The New York Daily News’ Sean Alfano: “Rep. John Boehner says he is not ready to compromise his stance on extending tax cuts for the rich” Rep. John Boehner isn’t ready to play let’s make a deal with President Obama. LINK

ECONOMY:
Bloomberg’s Heidi Przybyla and Brian Faler: “U.S. Debt Proposal Would Cut Social Security, Taxes, Medicare” A plan offered by the leaders of President Barack Obama's commission to reduce the federal deficit might work. It just won’t happen. The co-chairmen proposed a $3.8 trillion deficit-cutting plan yesterday that would trim Social Security and Medicare, reduce income-tax rates and eliminate tax breaks including the mortgage-interest deduction. LINK

Bloomberg’s Rebecca Christie: “Geithner Says Dollar Drop Due to Reversal of Safe-Haven Flows” Treasury Secretary Timothy Geithner said the dollar’s drop in recent months is due to a reversal in safe-haven capital flows, contrasting with officials who blame the U.S. central bank for undermining the currency. Investors are no longer seeking as much of a refuge in dollars, and that’s “a sign of greater confidence that although we face challenges in the U.S. and globally the risks we face are more manageable,” Geithner said in a transcript of an interview with CNBC television distributed by e-mail today. LINK

2010 ELECTION / GOP / DEMOCRATS:
The Wall Street Journal’s Vauhini Vara: “Alaska Begins Scrutiny of Votes in Senate Race” Election workers here began sorting ballots Wednesday in a U.S. Senate contest whose outcome will turn on write-in votes, and the drama surrounding the initial counting suggested the state may face a drawn-out battle over the validity of votes for incumbent Lisa Murkowski. LINK

USA Today: “Rep. Michele Bachmann drops out of House GOP race” Rep. Michele Bachmann, a favorite of the Tea Party movement, has dropped out of the race for House Republican Conference chair, the party's No. 4 leadership post. Bachmann, a Minnesota lawmaker and founder of the Tea Party Caucus in Congress, endorsed rival Rep. Jeb Hensarling for the job. In a statement, Bachmann said her Texas colleague "has my enthusiastic support." LINK

Politico’s Jonathan Allen & John Bresnahan: “Nancy Pelosi faces new resistance from Democrats” Nancy Pelosi is struggling to stand her ground as the effects of last week’s Democratic debacle shift the political earth beneath her feet. LINK

The Hill’s Molly K. Hooper: “Bachmann drops bid for conference post, backs Hensarling” Rep. Michelle Bachmann (Minn.) dropped her bid to become the next House GOP Conference Chairman late Wednesday. LINK

DON’T ASK, DON’T TELL:
The Washington Post’s Ed O’Keefe and Greg Jaffe: “Sources: Pentagon group finds there is minimal risk to lifting gay ban during war” A Pentagon study group has concluded that the military can lift the ban on gays serving openly in uniform with only minimal and isolated incidents of risk to the current war efforts, according to two people familiar with a draft of the report, which is due toPresident OBama on Dec. 1. LINK

OTHER:
Newsweek’s Ben Adler: “The Good, the Bad, and the Unlikely” The co-chairmen of the National Commission on Fiscal Responsibility and Reform, Democrat Erskine Bowles and Republican Alan Simpson, released a draft of their proposal for deficit reduction on Wednesday afternoon. It has not won the support of the other 16 commissioners, and even Bowles and Simpson know that this proposal will not pass Congress exactly as it is written. But Congress will consider the ultimate recommendations in some form, so it's worth considering the ideas the proposal contains. LINK

ABC NEWS VIDEOS:
ABC News: “Eric Holder: ‘Close To a Decision’ on KSM Trial” Attorney General Eric Holder says they are close to a decision on KSM trial. LINK

ABC News: “Boehner: ‘I Mean What I Say’” Leader John Boehner tells press how he will “run the House.” LINK

BOOKMARKS:
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