The Note's Must-Reads for Friday, January 7th, 2011

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


PRESIDENT OBAMA AND ADMINISTRATION The Wall Street Journal’s Elizabeth Williamson: “ President Revs Up Campaign to Make Peace With Business” President Barack Obama put into overdrive Thursday his fledgling efforts to call a truce with American business. LINK

USA Today’s Richard Wolf and Mimi Hall: “ Daley choice puts a moderate in play” President Obama's choice of Chicago business executive William Daley to run his White House operation is the clearest sign yet that he intends to move toward the political center as he approaches a likely 2012 re-election campaign, members of both parties say. LINK Politico’s Glenn Thrush & Carol E. Lee: “ William Daley takes Barack Obama back to the future” President Barack Obama is banking on an old name in Chicago politics to offer him new momentum in Washington. His selection of the defiantly moderate Bill Daley as his new chief of staff, which drew predictable fire from liberals Thursday, underscores Obama’s determination to run from the center in 2012 and somewhat neutralize the outright hostility of many business groups to his administration. LINK

HEALTHCARE The Los Angeles Times’ Noam N. Levey: “ Cost of healthcare repeal put at $230 billion” The Republican plan to repeal the healthcare law would drive up federal deficits by $230 billion by 2021, the nonpartisan Congressional Budget Office concluded Thursday, undercutting GOP efforts to seize the mantle of fiscal responsibility. Overturning the law President Obama signed in March would also leave 32 million more Americans without health coverage, the analysts concluded. LINK

New York Daily News’ Kenneth R. Bazinet: “Obama White House spits on GOP's health care reform scorched-Earth policy, vows to veto any repeal” Anyone who can count beyond their fingers and toes knows the Tea Party-led GOP effort to repeal the still freshly-minted health care law won't make it through the Democrat-controlled Senate, but the Obama administration isn't taking any chances: Should the Republican bill repealing health care reform make it to President Obama's desk, "He would veto it," the White House said this evening. LINK The Washington Post’s Amy Goldstein: “ CBO says health care repeal would deepen deficit” Rescinding the federal law to overhaul the health-care system, the first objective of House Republicans who ascended to power this week, would ratchet up the federal deficit by about $230 billion over the next decade and leave 32 million more Americans uninsured, according to congressional budget analysts. LINK

FINANCES Bloomberg’s Sungwoo Park: “ Gold Set for the Longest Losing Run Since 2009 on U.S. Recovery” Spot gold dropped for a fifth day, the longest losing streak since August 2009, as signs that the U.S. economy is recovering boosted the dollar and curbed demand for a haven. Silver, platinum and palladium all declined. LINK

The New York Times’ Thom Shanker and Christopher Drew: “ Pentagon Seeks Military Cuts Since Before 9/11” Defense Secretary Robert M. Gates said Thursday that the nation’s “extreme fiscal duress” now required him to call for cuts in the size of the Army and Marine Corps, reversing the significant growth in military spending that followed the terrorist attacks of Sept. 11, 2001. LINK

ABC NEWS VIDEO ABC News: “ Republican Agenda Explained” Rep. Eric Cantor, R-Va., discusses repealing the health care law. LINK ABC News: “Jake Tapper on White House Staff Changes” Former Commerce Secretary Bill Daley a possible pick for chief of staff. LINK

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