MORNING READ

On the morning after Barack Obama's historic victory, conservatives are wondering what's next for them and the country. Obama gets to govern with Democratic majorities in Congress, making it more important that Republicans stay strong in opposition to him, according to conservative bloggers. While Republicans lost seats in the House and Senate, it could have been worse, according to bloggers on both sides. And though many expected historic turnout, the final numbers weren't much better than the 2004 totals, bloggers write.

Obama and the Democrats could govern from the center and help the country, or they could follow their instincts and rule from the left, which would backfire and help get Republicans back into office, writes The Corner's Jonah Goldberg. Fiscal conservatives' first assignment should be to oppose Democrats on a new stimulus, windfall profits tax, bailouts for states, new foreclosure prevention measures and more federal loan guarantees for corporations, writes Michelle Malkin. Those on the right should hold Obama to his pledge in the third debate to have a "net spending cut," writes The Volokh Conspiracy's David Bernstein.

As it stands Wednesday morning, Democrats will gain five seats in the Senate and about 20 seats in the House. But their gains could have been bigger, especially in the Senate, where they need a few more seats to prevent GOP Senators from blocking progressive legislation, writes MyDD's Jerome Armstrong. Republican Sens. Ted Stevens (Alaska), Gordon Smith (Ore.), and Norm Coleman (Minn.) might defy expectations and all hold onto their seats, notes Contentions' Jennifer Rubin. Those GOP wins and the modest Democratic gain in the House would send the message that America doesn't want too much change, Rubin writes.

With the 2008 national voter turnout likely falling short of the 2004 total of 123 million Americans, this year's story is that the electorate's composition has shifted from being more Republican to being more Democratic, writes Contention's John Podhoretz. Turnout sucked, perhaps because Republicans stayed home, writes kos.

FROM THE BLOGS:
Okay, Now Govern - Jonah Goldberg, The Corner
Sour Loser - John Derbyshire, The Corner
Gird Your Loins, Conservatives - Michelle Malkin
Post-Election GOP Agenda - David Bernstein, Volokh Conspiracy
Congratulations, President-Elect Obama - Ross Douthat
Senate Trio - Jennifer Rubin, Commentary
I'll Sort of Miss Chris Shays - John J. Miller, The Corner
Next Day Down-Ballot- Jerome Armstrong, MyDD
Turnout Sucked - kos, Daily Kos
Unhistoric Turnout - John Podhoretz, Commentary
McCain's Concession Speech - Jonathan Cohn, The Plank

OTHER NEWS SOURCES:
Obama Is Elected President as Racial Barrier Falls - New York Times
Obama Sweeps to Historic Victory - Wall Street Journal
Hard Choices and Challenges Follow Triumph - Washington Post
Several Senate Races Remain Nail-Biters - The Hill