• We are just 39 days away from President-elect Donald Trump’s inauguration. But Democrats are still trying to figure out what went wrong in 2024, and how to fix it before 2026. Wisconsin Democratic Sen. Tammy Baldwin breaks down why she thinks she won re-election in a swing state, in which Trump also won, and how Democrats are approaching the president-elect’s cabinet picks.
• Later in the show, Politico senior defense correspondent Conner O’Brien explains what’s actually in the big defense bill House lawmakers passed Wednesday.
• And in headlines: FBI Director Christopher Wray says he will resign when President Joe Biden leaves office in January, Grocery store chain Albertsons called off its merger with fellow mega grocer Kroger, and a federal judge in Texas put a stop to the sale of Alex Jones’s Infowars to the Onion.

• Check out Connor’s reporting – politico.com/staff/connor-obrien
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