PM Note: The Fiscal Pivot, ABC to Interview Boehner, House and Senate Election Developments

Fiscal Framing - Diane Sawyer will interview John Boehner and the first portion will air Thursday on World News -

Latest 2012 Results:

Obama - 60,448,311 - 50 percent Romney - 57,645,658 - 48 percent

Senate - 55D - 45R No races outstanding after Democrats picked up the two closest contests earlier today. That means the balance of power will be 53 Democrats, plus liberal independent Bernie Sanders and maybe moderate independent Angus King most of the time. (Dems plus two). Tester eked it out -

In the House - 234R - 192 D - Detes from Chris Good -

With 9 races outstanding, Democrats have added 3 seats and counting.

2013 HOUSE OUTLOOK (not including estimates)

234 Republicans

193 Democrats

TOTAL INCUMBENT LOSSES: 400 incumbents ran, and 23 incumbents lost. 10 remain undecided (two incumbents are running against each other in LA03, hence the greater total of undecided races).

SuperPACs - Bad Investment? - Abby Phillip reports: If the super rich tried to buy Senate and House seats in this election, they didn't have much luck, at least when it came to some of the most expensive U.S. congressional races. Wealthy millionaires such as casino mogul Sheldon Adelson, Donald Trump and Dreamworks CEO Jeffrey Katzenberg took advantage of the ability to contribute tens of thousands, even millions of dollars to congressional super PACs in 2012, with mixed results. Of the 10 most expensive Senate races in the country, only three were won by the candidate who had the most well-heeled outside groups backing them, according to data from the Campaign Finance Institute analyzed by ABC News. More on the election in a bit

Fiscal Pivot - Start boning up on sequestration and taxmageddon, base lines and budget windows. We're going to pivot from soaring campaign rhetoric and misleading attacks to the CBO and the JCT and Washington-ese pretty faster than a door slamming on closed-door negotiations.

Joe Biden Sees a 'Clear Sort of Mandate' on Taxes -

So does John Boehner -

Everybody is suddenly talking about working together and finding middle ground. Nobody yet is talking about how they could actually take a step toward that compromise.

We're trying to envision what the middle ground on the coming deficit fight would actually look like. One side has said it will raise taxes on the wealthy and the other side has said it won't. There's not much ground in the middle of a line in the sand.

Obama called Boehner and other congressional lawmakers today to get the ball rolling.

Devin Dwyer lays out Obama 2.0 -

John Parkinson lays out the Boehner perspective - Boehner said he told the president that the Republican majority in the House "stands ready to work" with him "to do what's best" for the country. Still, the speaker was clear that new revenue must be a "byproduct of a growing economy," and he emphasized that "to garner Republican support for new revenues, the president must be willing to reduce spending and shore up the entitlement programs that are the primary drivers of our debt."

"We aren't seeking to impose our will on the president; we're asking him to make good on his 'balanced' approach," Boehner said. "A 'balanced' approach isn't balanced if it means higher tax rates on the small businesses that are key to getting our economy moving again and keeping it moving."

Obama's Cabinet Headed for Shake-Up-President Obama's victory Tuesday means he will pivot almost immediately to shoring up the team of top aides and cabinet secretaries who will help him tackle the looming fiscal cliff negotiations with Republicans and the full legislative agenda to follow.While the president's staffers have undergone some serious changes during his first term, his cabinet secretaries have remained remarkably stable. Several high-profile members are expected to step down from their roles in early 2013. (Devin Dwyer)

More on the election:

Some notables on the House … In Arizona's 2nd district, Democratic Rep. Ron Barber, who won a special election to replace Gabrielle Giffords after she resigned, was losing by about 1,300 votes to Republican Martha McSally. …Rep. Allen West, R-Fla., one of the most outspoken Republicans in the House of …Old Dogs - Rep. Mike McIntyre, a blue dog from North Carolina's 7th congressional district, was also locked in a close race against Republican state Sen. David Rouzer, separated by just 378 votes. Six other blue dog Democrats retired, sought higher office, or were defeated during primaries earlier this year. Reps. Ben Chandler, D-Ky., Larry Kissell, D-N.C., and Leonard Boswell, D-Iowa, all lost Tuesday… More conservative "blue dog" Democrats watched their numbers shrink from 24 down to 15.

Bachmann survived a challenge. Pete Stark lost his seat. But there is a new nontheist potentially on the way. Krysten Sinema holds a lead in Arizona.

2012 did not result in a first Mormon president or a first Vice President born after the moon landing, but there were some notable occurrences…

How about a state with an all-woman congressional delegation?

Marriage, Marijuana and Women Triumph on Election Night of Firsts - From New Hampshire, now home to the country's first all-female congressional delegation, to Maryland and Maine, the first two states to legalize gay marriage by popular vote, the decisions rendered Tuesday might well be remembered longer than who ends up winning Florida's 27 electoral votes. (Gregory Krieg)

Another Swing and a Miss for a Massachusetts Politician-Call it the second curse of the Bambino. Tuesday's defeat made Mitt Romney the third straight presidential nominee from Massachusetts to lose on Election Day.For almost nine decades, Bay State residents suffered under the Curse of the Bambino - the belief that the sale of Babe Ruth by baseball's Boston Red Sox prevented the team from winning a championship for almost a century. (Sarah Parnass and Z. Byron Wolf)

President Obama Victory Speech Upstaged by 'Hair Flag Lady' - During Tuesday night's re-election victory speech, the president didn't just share the spotlight. Some would say he was upstaged - not by his now-nearly teenage daughters but by an anonymous woman known to the world only as "hair flag lady." (Katie Kindelan)

2012 Presidential Election: Political Reactions-Barack Obama now prepares for his second term as the President of the United States. Though the race was tight, especially in states like Florida and Virginia, Obama won by more than 2 million popular votes at last count, and had at least 303 electoral votes to Mitt Romney's 206. (Florida was still too close to call as of midday Wednesday.) (Jilian Fama)

Harlem Brought Its Soul to Obama Victory Celebration-Barack Obama's decisive victory resonated throughout Harlem - the "heartbeat" of black America - where voters swelled the polls Tuesday, sure from the start that the first African-American president would get a second term. ( Susan Donaldson James)

The Race for 2016 Starts Today-The race for 2016 starts the day after election day. Both parties are going to be searching for their new leaders. A huge question for Democrats is, "What does Hillary Clinton do?" Based on that decision, the race could go many ways. (Matthew Dowd)

Obama Vows to Forge Change Where He Failed-After four years of trying and, by his own admission, failing to change the nature of politics in Washington, President Obama tonight vowed in a second term to forge bipartisan compromise in a way a large majority of Americans desire. (Devin Dwyer)

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