Cheat Sheet - The Election’s Biggest Myths, Lies, and Losers

Today: Myths, Lies, and Losers , Stocks Plunge After Obama Win , 5 Amazing Fox News Freakouts November 07, 2012 THAT'S A WRAP 1. Myths, Lies, and Losers Barack Obama's victory was more than a defeat of Mitt Romney. Obama also vanquished prejudice, winner-take-all economics, and attacks on the safety net. The winner is 21st-century America. By Robert Shrum. Read it at The Daily Beast HANGOVER 2. Stocks Tank as Wall Street Throws a Hissy Fit President Obama has his work cut out for him. Stocks plunged on Wednesday, the first day of trading after Obama's re-election. The Dow Jones Industrial Average was down 2.3 percent, or more than 300 points. The benchmark Dow was trading below 13,000, its lowest level since Aug. 3. Investors are likely reacting to Mitt Romney's loss and the looming "fiscal cliff." and one expert saying that the "chances of going off the cliff probably just increased." One former Obama administration adviser has put the odds at zero that the president and Congress will have a meaningful compromise by the year's end. Read it at The Daily Beast MELTDOWN 3. 5 Amazing Fox News Freakouts Karl Rove couldn't believe it. Megyn Kelly walked it off. Bill O'Reilly played the race card. The Daily Beast rounds up five incredible moments from Fox News's funeral for the presidency last night. Watch the videos. Read it at The Daily Beast CLOSE CALL 4. Tester Wins Re-Election Montana Democratic Senator Jon Tester won re-election Wednesday, beating Republican Danny Rehberg in one of the tightest Senate races of the election. No stranger to close calls—he won by a mere 3,562 votes in 2006—Tester remained confident throughout the mostly tied race that he would pull ahead. "Thank you for fighting with me—for Montana values," he told supporters. The defiant senator became a major target for the Republican party—hoping to take over the Senate. More than 100,000 campaign ads ran on Montana television during the campaign—in what some are calling a "perverse media marathon" that incurred costs close to $30 million dollars. Tester's win dashed GOP hopes of regaining control of the Senate. Read it at The Washington Post FORWARD 5. Obama's Youth Support Slips He's probably not complaining. The youth support that helped make President Obama victorious in 2008 seems to have slipped this time around, according to exit polls from Tuesday night's election. The president still maintained a comfortable 22-point lead nationally among 18- to 29-year-olds. He took 59 percent of the demographic compared with 37 percent for Mitt Romney. But in 2008, Obama took 66 percent of the demo compared with the 32 percent who supported John McCain. But youth support was up for Obama in key swing states, like Ohio, where he won the demographic by 29 points compared with just 25 points in 2008. Read it at Politico NOR'EASTER Bloomberg: Get Off the Road Up to 12 inches of snow expected in New York. NOT SO FAST Original Patz Suspect Released Jose Ramos had been found liable in six-year-old's death. HE'S BACK Anthony Weiner Returns to Twitter Posts video about hurricane clean up. FISCAL CLIFF House GOP Still Won't Raise Taxes Boehner says "no mandate" for a tax increase. PEACE AND FREEDOM Roseanne Places Fifth in Election Barr scores 48,797 votes for president. GET The Cheat Sheet A speedy, smart summary of news and must-reads from across the Web. You'll love the featured original stories on politics, entertainment, and more from The Daily Beast's diverse group of contributors. GET Culture Beast Weekly cultural recommendations from The Daily Beast. Chris Matthews Has a Lot of Feelings He was excited, he was calm, and he was occasionally pissed off. The fiery liberal anchor experienced so many emotions on election night, he gave Megyn Kelly a run for her money. More Videos Three Wild Races for Women by Abigail Pesta Revenge of the Nerd: Nate Silver Is 2012's Other Winner by Trevor Butterworth Vanessa Paradis's Next Chapter by Marlow Stern

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