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November 7 highlights: Joe Biden becomes the president-elect

Joe Biden, will become the 46th president of the United States after beating Donald Trump. Biden and Kamala Harris delivered their acceptance speeches Saturday in Delaware.
Chelsea Stahl / NBC News

This live coverage has ended. Continue reading election news from November 8, 2020

Joe Biden became president-elect Saturday after winning Pennsylvania, NBC News has projected.

Meanwhile, President Donald Trump vowed Saturday to press forward with a legal fight, pushing unfounded claims of voter fraud in response to the news that came while he was at his Virginia golf club.

Check here for more on the presidential results.

The moment Biden found out that news outlets had declared him the winner

Biden and his wife, Jill, were enjoying the warm fall weather on their backyard patio Saturday morning when from inside their home, a chorus of applause erupted.

Biden’s grandchildren, watching as his victory was announced on television, rushed to share the news.

"Pop, Pop! We won!” they told the now-president-elect, a source with knowledge shared with NBC News.

Biden’s granddaughter Naomi tweeted a photo of their celebration.

 

From Wall Street to weed, corporate America prepares for life in purple

President Donald Trump has left much on the to-do list for President-elect Joe Biden. And American companies have had plenty of time to consider what a Biden presidency will mean for them. 

Here's a closer look at what will shape the agenda for various industries, from Wall Street to weed.

Consumer-goods firms will have their eye on the big prize — a stimulus package — since consumer spending slowed once the $600 weekly boost to unemployment payments ended in July.

On Wall Street, Republicans did little to unravel the post-crisis protections in the first place — and while Biden will put forward his own people to run financial regulators, they will have to pass muster with a Senate that is likely under GOP control.

When it comes to the energy sector, Biden has called for a “transition” from oil and other fossil fuels and a pledge to make polluters bear the cost of carbon emissions and proposes large investments in green technologies.

And then there's infrastructure week.

Read the story here.

 

 

Clyburn jokes Biden 'owes me' — for interrupting golf outing

At the moment Joe Biden was projected as the president-elect, the man whose critical endorsement put him in position for victory was “on the 14th tee box” on a golf course in South Carolina. But aides implored him to interrupt his round once the result came in.  

“It was one of the best rounds moneywise I’ve had all year!” Rep. Jim Clyburn, D-S.C., joked in an interview with NBC News, saying he was ahead $30 in his round with some friends. “So when I see Joe, I’m going to let him know he owes me some money.”

The South Carolina congressman said he hasn’t spoken yet with Biden, but expects he will soon. They last spoke on election night, when Biden was “in a cautious mood” — unsure yet if he would be able to overcome the early leads President Trump posted in key states like Pennsylvania. “There was some apprehension there,” he said. 

But Clyburn said he was elated now at Biden’s victory and eager to get to work with him.

“He gave my kind of speech last night, so I don’t need to tell him anything,” he said. “What he said was pitch perfect.”

Clyburn said he would listen to any entreaties to join the administration but that it wasn't his preference. “I would never say never. But I will say this: I do not aspire to be in the administration.”

New Yorkers celebrate Joe Biden's election victory

Celebrations at Columbus Circle and Times Square.Amy Lombard / for NBC News

More photos: Celebrations spread with news of Biden victory

Biden's victory snaps Ohio's long winning streak in presidential elections

Joe Biden's projected victory snaps Ohio's perfect record of picking the winner in every presidential election since 1964.

It was the longest active streak of any state in the country, and the 2020 election will mark its end.

Biden is poised to be the first president since John F. Kennedy in 1960 without carrying the Buckeye State, which NBC News called for President Donald Trump on election night Tuesday.

Trump returns to the White House after new agencies project Biden win

President Donald Trump returns to the White House from the Trump National golf club in Sterling, Va., after news media declared Joe Biden to be the winner of the 2020 U.S. presidential election on Saturday.Carlos Barria / Reuters

Biden inherits a battered economy with 10 million still unemployed

One of the top priorities for President-elect Joe Biden will be to rebuild America’s battered workforce and kick-start business growth.

The labor market still faces a deficit of more than 10 million jobs, with more disappearing permanently. 

Yet, the United States does not currently have the tools to realign workers and their skill sets to the new realities of the labor market.

Biden has proposed providing two years of community college or equivalent training to all Americans, along with a $50 billion investment in workforce training through community college partnerships and free four-year tuition for students with family incomes below $125,000.

But first, Biden must address the coronavirus pandemic, which is inextricably linked with America's economic trajectory. The current rise in infection rates flashes danger signals for the consumer-driven economy, since businesses will struggle to stay open if customers are concerned about catching the virus.

"Getting the virus under control is the only path to a full economic recovery," AnnElizabeth Konkel, economist at Indeed hiring services company, said.

Read the story here.

ANALYSIS: Biden won. Now comes the unimaginably hard part.

Joe Biden addresses supporters as Sen. Kamala D. Harris, D-Calif., listens inside The Chase Center on Nov. 4, 2020 in Wilmington, Del.Demetrius Freeman / The Washington Post via Getty Images

The good news for President-elect Joe Biden is that he defeated Donald Trump. The bad news is he has to preside over an angry and polarized nationa broken Congress, and the continuing economic and public health crises posed by the coronavirus.

He has promised to unify the country, a brutal task that will require him to manage the expectations of the left wing of his own party and the anger of defeated Republicans. And to enact his legislative agenda, he will have to satisfy a Senate that may be led by Majority Leader Mitch McConnell, R-Ky., depending on the outcome of remaining races, as well as a House led by Speaker Nancy Pelosi, D-Calif. The political bases of both sides are suspicious of anything that unites them.

That's why many political insiders say Biden will only be successful if his presidency matches a campaign in which he rejected the most extreme proposals of fellow Democrats and embraced coalition-of-the-willing Republicans.

"It’s going to be a difficult environment," Doug Heye, a former leadership aide on Capitol Hill who backed Biden, said. "He may be the best-suited person to get anything done."

Read the analysis.