By MICHAEL FALCONE ( @michaelpfalcone )

NOTABLES

• THIS WEEK ON 'THIS WEEK': In an ABC News exclusive, GEORGE STEPHANOPOULOS goes one-on-one with President Barack Obama in his first interview following his executive action on immigration - only on "This Week" Sunday. And the powerhouse roundtable debates all the week's politics, with Dr. Ben Carson, Democratic strategist James Carville, ABC News political analyst Matthew Dowd, and editor and publisher of The Nation Katrina vanden Heuvel. Be sure to use #ThisWeek when you tweet about the program. TUNE IN SUNDAY: http://abcnews.go.com/thisweek

• ABOUT LAST NIGHT: President Obama announced last night the most sweeping executive action on immigration in three decades, providing relief for an estimated 4.1 million undocumented parents of U.S. citizens and about 300,000 undocumented immigrants who came to the U.S. illegally as children. "I know some of the critics of this action call it amnesty. Well, it's not," the president said from the East Room of the White House. "Amnesty is the immigration system we have today - millions of people who live here without paying their taxes or playing by the rules, while politicians use the issue to scare people and whip up votes at election time." ABC's DEVIN DWYER reports the action will be finalized today with the signing of a presidential memorandum at a rally in Las Vegas. http://abcn.ws/11Ac1AG

• BORDERLINES: THE FACES OF IMMIGRATION REFORM. From coyotes to undocumented immigrant children, ABC's JIM AVILA and SERENA MARSHALL tell stories of immigration from both sides of the fence. http://abcn.ws/1xTgU3M

THE ROUNDTABLE

ABC's RICK KLEIN: President Obama spent about 12 minutes Thursday night arguing an emotional case for why he's making the most sweeping changes to the nation's immigration laws in more than a generation - acting, of course, without the assent of Congress. The move has vast implications for millions of individuals and their families, with short- and long-term impacts on the nation's economy, political demographics and Washington's perpetual power struggle. President Obama is offering his opponents in Congress a giant dare. He's daring Republicans to offer their sharpest reactions. Everything from government shutdowns to lawsuits to, yes, impeachment will be in the mix, with the driving consensus that the party needs to do something to register its extreme disapproval. He's daring them to offer and pass a different set of policies. The fact that the substance of the executive order won't take effect for six months gives the new GOP majority in Congress another half year to do what Congress hasn't been able to do over the decade immigration reform has been on the agenda . READ MORE: http://abcn.ws/1p4gt5U

ABC's JEFF ZELENY: President Obama's executive order on immigration won't ever become the law of the land, it can be reversed with the stroke of a pen by the 45th president. But how likely is it that he - or she - would actually do that? There will be pressure on every 2016 candidate to take a stand on whether they would repeal it and erase the protections afforded to up to 5 million people. Republicans know they are boxed in a bit of a corner. Taking something away from such a large swath of people - even while trying to improve their appeal to Hispanic voters - may be an impossible challenge. Will there be any GOP hopeful who says the president's order should stand? It would be risky, but likely more realistic. The best hope for overturning this order lies in the court room and Republicans are actively searching for the right plaintiff to file suit.

THE IMMEDIATE (AND NOT SO IMMEDIATE) IMPACTS OF OBAMA'S IMMIGRATION ANNOUNCEMENT. President Obama has announced Executive Action on immigration reform. Now what? Some of the measures take effect immediately, while other reforms will take longer. Those reforms to deferred action won't be fully implemented for six months, after applications can be accepted. While Obama waits and hopes, congress will take some action that will be more comprehensive and lasting. So when will we see what? ABC's SERENA MARSHALL takes a look: http://abcn.ws/1z1Nuj4

THE BUZZ

with ABC's KIRSTEN APPLETON

GOP GOVERNORS: ENOUGH ABOUT IMMIGRATION ALREADY. Republican governors huddled here for their annual conference and a victory celebration to note their huge wins earlier this month during the midterm elections where they even gained seats in bright blue states, but the issue of immigration has overshadowed the party. The Republican Governors Association conference being held this year at the posh Boca Raton Resort and Club coincided with the president's major executive action on immigration reform and through most of the events that were open to reporters the governors were pressed over and over on the topic. According to ABC's SHUSHANNAH WALSHE, one thing was clear: they are sick of the issue or at least being asked about it. http://abcn.ws/11HRoDN

THREE PHOTOS THAT TELL THE STORY OF OBAMA'S IMMIGRATION ACTION. As President Obama unveils his much-anticipated executive action to overhaul the nation's immigration system, ABC's DEVIN DWYER takes a look at three photographs that tell the very human story of what will begin to unfold. http://abcn.ws/1F8aHnR

TED CRUZ GRADUATES FROM DR. SEUSS TO CICERO ON THE SENATE FLOOR. It seems Sen. Ted Cruz has graduated from Dr. Seuss' "Green Eggs and Ham" to the towering words of Cicero. ABC's ARLETTE SAENZ and NOAH WEILAND report the Texas Republican took to the Senate floor Thursday to criticize President Obama's executive action on immigration. But instead of using his own words, he adapted Cicero's speech against Catiline to make his point. "The words of Cicero, powerfully relevant 2077 years later," Cruz said. "When, President Obama, do you mean to cease abusing our patience?" he said, substituting "President Obama" for "O Catiline" in the speech's opening. Cruz continued, appropriating features of Cicero's address to fit the specifics of the immigration debate. http://abcn.ws/1yYWWDW

PENTAGON DENIES PAYMENTS MADE FOR BOWE BERGDAHL INFO. The Pentagon is denying a suggestion that money was paid for information about Bowe Bergdahl's whereabouts while he was detained by the Taliban or that they were taken in by a con man charging an unspecified large amount of money for intelligence information. The allegation was raised in a Nov. 5 letter from Rep. Duncan Hunter, R-California, to Defense Secretary Chuck Hagel. ABC's LUIS MARINTEZ reports Pentagon Press Secretary Rear Adm. John Kirby told reporters Thursday that no money was paid as ransom or in any other context. Bergdahl was released in May after the Obama administration secured his release in exchange for the release of five high-level Taliban detainees being held at Guantanamo. http://abcn.ws/1uNrb1u

HERE'S WHAT HAPPENS WHEN YOU PUT 6 POTENTIAL PRESIDENTIAL CANDIDATES IN THE SAME HOTEL. At least six attendees at a gathering of Republican governors here are mulling presidential bids, and it was clear from the action that the 2016 race is in full swing, ABC's SHUSHANNAH WALSHEreports. The Republican Governors Association's outgoing chairman, New Jersey Gov. Chris Christie, has been vocal about considering a run for the White House, and said here that he will announce his decision next year. He noted that while running the RGA was his "first priority over the last year," now, "I've got some decisions to make. I'm not shy, as you know. I'll let you know." Attendees met with donors and talked strategy during the conference, but it was also a victory celebration for the GOP's big wins earlier this month. This was especially true for Christie, who guided the governors' group and was able to net victories even in blue states such as Maryland, Massachusetts and Illinois. The successes will likely give him a boost going into the presidential contest. Louisiana Gov. Bobby Jindal, also on the list of those considering a run for the top office, said he "absolutely" agreed the next GOP presidential nominee should be a governor. http://abcn.ws/14W2ia8

NOTED: MEET THE BIGGEST UPSET WINNER OF 2014 MIDTERM ELECTIONS. Larry Hogan, the political longshot who is now the governor-elect of Maryland, is being applauded at the Republican Governors Association conference for his shocking upset win in the midterm elections. Hogan says he won despite being outspent "five to one" and says he's only the "second governor in nearly 50 years to be elected as a Republican" in the state. Maryland was one of the rare spots that even got a visit from the president in the days before the election. The race wasn't on the national radar and he even describes himself as a "no name, regular" guy. But he's at this week's annual Republican Governors Association conference and he's getting quite the reception. The RGA even decided to go into $1.5 million in debt to play in the state, a successful gamble. ABC's SHUSHANNAH WALSHE talks to the man who pulled off the biggest upset of the midterm cycle. http://abcn.ws/1uFbg3Q

4 REASONS CASES LIKE FERGUSON ARE HARD FOR FEDS TO PROSECUTE. As soon as the grand jury in Ferguson, Missouri, announces its decision over whether to charge Police Officer Darren Wilson for fatally shooting teenager Michael Brown, the public will almost certainly turn to the Justice Department and say: Your move, Mr. Attorney General. U.S. Attorney General Eric Holder has vowed a "fair" and "thorough" investigation into the matter. But when pressed by ABC News in August, Holder seemed to acknowledge federal charges against Wilson are hardly guaranteed. What are the hurdles to bring civil rights charges against a police officer who fatally shot an unarmed teenager? ABC's MIKE LEVINE takes a look the top four challenges facing federal prosecutors. http://abcn.ws/14RY9UP

IN CASE YOU MISSED IT

THE 7 LUCKIEST AND UNLUCKIEST FRESHMAN MEMBERS OF CONGRESS. It's not every day you spot suits doing backflips in the halls of the U.S. House of Representatives. But according to ABC's ERIN DOOLEY, the rules were different this week. The 57 new members of the 114th Congress, gathered in a Capitol committee room to draw numbers for Congressional Office Lottery, needed all the luck they could get. http://abcn.ws/1xHaqHt

WHAT WE'RE WATCHING

BIKES, CAMELS AND AK-47s: "WORLDRIDER" SHARES TALES FROM TREK AROUND THE GLOBE. Adventurous globetrotter Allan Karl shared stories from his three-year motorcycle journey around the world spanning five continents, including all of Africa, with ABC's JONATHAN KARL, host of "Politics Confidential" and brother of the self-dubbed "Worldrider." His new book "Forks: A Quest for Culture, Cuisine And Connection," details Karl's experiences around the world through photographs, recipes and stories of his encounters. One of the most remarkable stops on Karl's voyage was Syria just before its 2011 civil war began. He arrived with no visa and left one month later having experienced everything from sipping chai tea with border guards to never paying for a tank of gas. His most risky adventure was in Colombia, when fatigue-clad men with AK-47s approached him, took his camera and led them to what they said would be a waterfall. Fearing the worst, Karl was surprised to find when they reached a clearing that the men were serious. WATCH: http://yhoo.it/11KaPvN

WHO'S TWEETING?

@SenJohnMcCain: Must-read @WSJopinion: "I, Barack - The #immigration order is an abuse of power that fails as a policy reform" http://online.wsj.com/articles/i-barack-1416531449 …

@aseitzwald: Clinton Foundation's endowment jumped from $250K to $59m this yr. Almost like they're planning for some big change. http://countingoncharity.blogspot.com/2014/11/the-clinton-foundations-2013-financial.html …

@zengerle: My piece on Harris Wofford, the Zelig of 20th Century American politics http://www.newrepublic.com/article/120160/harris-wofford-20th-centurys-most-serendipitous-man?utm_content=buffera3cdc&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer …

@joshtpm: A Short History of Racist Callers to C-SPAN's Washington Journal http://talkingpointsmemo.com/news/cspan-racist-callers-reactions …

@JohnBerman: If you love @RickKlein as much as I do, give a Happy Birthday RETWEET as he turns 45!!!