"I'll have a conversation with my caucus, I'll have a conversation with my family, and pray over it, and decide how to go forward," outgoing Speaker Nancy Pelosi told ABC News about her future.

Asked if he wants to stop President Obama from having a second term, Sen. Mitch McConnell (R-KY) said "of course."

"Think about how far we've come and think about the ups-and-downs that we went through during the course of the campaign. There were times when folks counted us out and we always came back. The same thing is going to happen over the next two years and the next six years," President Obama told MoveOn.org during a conference call today.

Democratic strategist Mark Penn thinks the "people who thought he was the greatest president two years ago now don't think he is doing the job."

"This is no longer my opinion, this is no longer my expressed desire, this is a fact," Rush Limbaugh said today.

"I think sometimes he doesn't live in the real world. For instance, he just basically turned over all of these very tough issues to Nancy Pelosi and her team and Harry Reid and his team with White House help and with very little committee work, very little oversight, very little, you know, effective approaches," Sen. Orrin Hatch (R-Utah) said.

Democratic strategist Joe Trippi analyzes President Obama's post-election press conference.

“With the re-election of the Massachusetts delegation and Gov. Deval Patrick, we can acknowledge tonight that Massachusetts has reaffirmed the complete political irrelevance of the Boston Herald," Rep. Barney Frank (D-MA) told more than 100 supporters at the Crowne Plaza in Newton. “There is no limit to the bias and vitriol they unle

Juan Williams weighs in on challenges facing President Obama and new Congress.

Outspoken former Army Lt. Col. Allen West wins in Sunshine State. West on the "dirty campaign" against him.

"I wish the Republicans had worked with us when we did the health care bill. If there's some tweak -- if they're some tweaking we need to do with the health care bill, I'm ready for some tweaking," Sen. Harry Reid (D-NV) tells CNN.

"The question is how much of it is going to be repealed and how much will Obama be willing to concede," Dr. Charles Krauthammer said.

PRESIDENT OBAMA: "We'd be misreading the election if we thought the American people want to see us for the next two years relitigate arguments that we had over the last two years." PRESIDENT OBAMA (4 minutes later): "We have some tough choices here. We already had a big deficit that I inherited and that has been made worse because of the

President Obama calls last night's Democratic losses a "shellacking."

"All of my focus will be on rebuilding this state and making it great again," Governor-elect John Kasich (R-OH) told FOX News.

Sen. Harry Reid (D-NV) addresses supporters to shouts of "si se puede." "Tonight, Nevada chose hope over fear," Sen. Reid said.

Alan Colmes weighs in on president's response to Republican takeover of Congress.

CNBC: If the US government doesn’t act soon to reduce the deficit and debt, it will become like Greece in a few years, Sen. Judd Gregg, (R-N.H.), told CNBC Wednesday. "This nation is on a course where if we don’t do something about it, get federal situation, the fiscal policy [under control], we’re Greece. We’re a banana