The Note: What We Learned From Last Night

— -- NOTABLES

--8 MOMENTS THAT MATTERED: The eight presidential contenders left standing on the main stage faced off over fiscal policy last night in Milwaukee, Wisconsin -- battling about everything from trade deals to taxes. The fourth Republican debate, hosted by Fox Business and the Wall Street Journal, drew contrasts among the GOP candidates over spending and economic philosophy. Jeb Bush and John Kasich went after Donald Trump on immigration plan. Trump wants to deport undocumented immigrants -- but Kasich and Bush tried to throw cold water on that plan. "We are a country of laws," Trump said. "We have no choice if we're going to run our country properly." But Kasich and Bush hit back. "Think about the children," Kasich said. "So, you know the answer really is? If they have been law-abiding, they pay a penalty. They get to stay." Bush also distanced himself from Trump's idea, calling Trump's plan "just not possible." ABC's SHUSHANNAH WALSHE and RYAN STRUYK highlight the other big moments from Tuesday night's debate. http://abcn.ws/1MVLTXR

--ANALYSIS -- ABC's RICK KLEIN: The stage was smaller. The rhetoric was milder. But the broad contours of the presidential race were somehow brought into sharper relief by an evening that was often dull. Talk of immigration, foreign policy and bank bailouts was a throwback for a Republican Party that' s been rocked by sideshows, surprises, and campaign drama. As comfort zones go, though, this was awkward territory for a GOP that's seeking its own identity while reaching out to a changing electorate. Donald Trump was the center of some of the most important action of the night, in a reminder that he doesn't have to be loud or insulting to influence a presidential debate. His argument for building a border wall and forcing undocumented immigrants out of the country sparked a debate where the moderators weren't even looking for one. "We either have a country or we don't have a country," Trump said of the need to "send people out" who came to the US illegally. His vision for the country, of course, is not unanimous inside his party. It earned Trump a Jeb Bush-John Kasich tag team --- in a series of exchanges that will resonate throughout the primary season. http://abcn.ws/1Mnej7l

--THE BEST LINES OF THE GOP DEBATE: ABC's PAOLA CHAVEZ looks at some of the best lines from last night's Republican debate. http://abcn.ws/1PBphuw

--MISSED IT? HERE'S A RECAP. The fourth Republican presidential debate in a minute. WATCH: http://abcn.ws/1QhmZCc

AS SEEN ON 'GMA' -- MARCO RUBIO SAYS HE AND JEB BUSH ARE 'FINE,' DESPITE APPARENT DEBATE REBUFF. GOP presidential candidate Marco Rubio said this morning that he and former Florida Gov. Jeb Bush were "fine," despite footage from Tuesday night's GOP debate appearing to show Bush rebuffing Rubio's attempt to speak to him during a commercial break, notes ABC's CORRINE CATHCART. When asked in an interview on "Good Morning America" about the possible snub, Rubio said, "It looked that way, but that' s not what happened. We were fine." As the lights dimmed during a commercial break at the Fox Business-Wall Street Journal Republican debate, Rubio approached the former governor as Bush appeared to shake his head at him. Rubio instead turned and spoke to front-runner Donald Trump. http://abcn.ws/1WMpMHW

WHAT WE'RE WATCHING

FROM FUSION -- YOUNG INDEPENDENTS FIND LITTLE COMMON GROUND WITH GOP CANDIDATES. Tuesday's GOP debate produced by Fox Business Network and the Wall Street Journal was supposed to focus largely on the economy. And for eight registered Independents convened by Fusion, student debt and job security were important issues. But in their opinions, too little time was spent on the issues that matter to them, like student loans and job security. Those came at the expense of talk of immigration and foreign policy, FUSION's ROB WILE notes. http://fus.in/1GWPxhF

THE BUZZ

with ABC's VERONICA STRACQUALURSI and PAOLA CHAVEZ

BEN CARSON SAYS HE HAS ' NO PROBLEM' BEING VETTED AFTER QUESTIONS ABOUT HIS PAST. Republican candidate Dr. Ben Carson -- who has faced scrutiny over inconsistencies in statements about events in his life -- said Tuesday night that he supports the media vetting presidential candidates."The fact of the matter is, what, we should vet all candidates," Carson said. "I have no problem with being vetted," he added. "What I do have a problem with is being lied about." His comments Tuesday came as he found himself under fire last week for stories in his autobiography and those on the campaign trail, like turning his life around as a teenager after trying to stab a fellow teen and claiming to have been offered a full scholarship to West Point. Carson, who has been poking fun at the media leading up to tonight' s debate, thanked the moderators avoiding questions from many years ago, ABC's KATHERINE FAULDERS reports. "Well, first of all, thank you for not asking me what I said in the 10th grade," Carson said. "I appreciate that." http://abcn.ws/1HwGgwH

CARLY FIORINA MET WITH PUTIN IN A GREEN ROOM, DESPITE ZINGING TRUMP FOR DOING SO. One of the best zingers of the fourth GOP debate last night was when Carly Fiorina took a jab at Donald Trump about Vladimir Putin, noting that she' s also met the Russian leader -- "not in a green room for a show, but in a private meeting." But the former Hewlett-Packard CEO and Republican presidential candidate actually did meet with Putin in a green room. In 2001, Fiorina and Putin met for 45 minutes in a green room at the APEC CEO Summit in Beijing, where both were speakers, according to ABC's JORDYN PHELPS. Fiorina's campaign confirmed that the meeting took place in a green room, but Press Secretary Anna Epstein drew a distinction between one at a conference and a green room at a TV show. "Yes she met him in a green room, but not in a green room before a show," Epstein said in an email to ABC News. "It was before a conference." http://abcn.ws/1NJi4IN

THE MOMENTS THAT MATTERED AT LAST NIGHT'S UNDERCARD DEBATE. A reshaped lower tier took the stage in the fourth GOP "undercard" presidential debate in Milwaukee tonight, with New Jersey Gov. Chris Christie and former Arkansas Gov. Mike Huckabee joining former Sen. Rick Santorum and Gov. Bobby Jindal on the stage. The debate, hosted by Fox Business and the Wall Street Journal, focused on economic policy -- from taxes to entitlement reform. Jindal wasn' t afraid to take the gloves off, but Christie aimed to focus on the conversation on Hillary Clinton. South Carolina Sen. Lindsey Graham and former New York Gov. George Pataki, who had been included in previous undercard debates, couldn't reach 1 percent in the four most recent national polls to earn a spot on the stage. ABC's BEN GITTLESON, SHUSHANNAH WALSHE and RYAN STRUYK take a look at seven moments that mattered. http://abcn.ws/20LmaW9

VOTER TELLS HILLARY CLINTON HE WANTS TO 'STRANGLE' CARLY FIORINA. During a town hall meeting with veterans in Derry, New Hampshire, Tuesday, a voter expressed frustration to Hillary Clinton over the only other female presidential candidate in the race: Carly Fiorina. The veteran, who said he used to work at Hewlett-Packard but was laid off by Fiorina when she was the company's CEO, quipped in exasperation, "every time I see her on TV, I want to reach through and strangle her." Clinton, along with much of the rest of the room, laughed at the man' s remark. "You know, I know that doesn't sound very nice," he added. ABC's LIZ KREUTZ reports, Clinton chuckled and joked, "I wouldn't mess with you!" http://abcn.ws/1OCqeUL

THESE CANDIDATES BET IT ALL ON NEW HAMPSHIRE (AT THEIR OWN RISK). When Fox Business News and the Wall Street Journal announced their debate lineups for tonight, there were some notable downgrades: Chris Christie and Mike Huckabee were relegated from the prime time slot to the undercard debate at 7 p.m. E.T., while Lindsey Graham and George Pataki, failing to average at least 1 percent in several recent national polls, were cut from the stage altogether. With the exception of Huckabee, the demoted candidates all share one strategy in common: an "all-in" strategy on the state of New Hampshire. "All candidates would like to run everywhere if they can," said Dante Scala, a political science professor at the University of New Hampshire. "But when they are relatively weak, they focus on the early state that seems to suit them best." So who' s betting it all on New Hampshire -- and how are they faring? ABC's BRAD MIELKE has more. http://abcn.ws/1HuKLrR

IN CASE YOU MISSED IT

CARSON AND TRUMP TO GET SECRET SERVICE CODE NAMES. The two leading Republican candidates are scheduled to receive United States Secret Service protection tomorrow, following last night's GOP debate. Dr. Ben Carson will receive his detail this morning, according to an aide with knowledge of the security plans. The code names do not originate with the Secret Service, but are designated by the White House Military Office. A source familiar with the process confirms that Carson's code name will be "Eli" and Donald Trump's will be "Mogul." ABC's KATHERINE FAULDERS reports Trump is expected to get his detail sometime today. http://abcn.ws/1QgWzR5

WHO'S TWEETING?

@EliStokols: .@GlennThrush w/ a wrap on "the easiest 120 minutes of debate time the field has ever had." http://www.politico.com/story/2015/11/fox-business-republican-debate-off-message-215749 ...

@DannyLopezDiaz: Major donor we've been chasing for four-plus weeks just sent short email to the campaign: "I'm all in for @JebBush. #GOPDebate #AllInForJeb

@bykowicz: Rubio's solid debate showings have helped move donors his way. One of the latest: hedge fund manager Cliff Asness. http://bigstory.ap.org/urn:publicid:ap.org:1325d295fa6a41c387c4e28409db838f ...

@wpjenna: Donald Trump in New Hampshire: "We have about 90 days and that's not a lot."

@KlandriganNH1: Bernie Sanders marching in Vets Day parade today in Lebanon. As close as he gets to home in FITN state. @NH1News #nhpolitics