President Bush speaks to reporters at his first press conference following his re-election at the Eisenhower Executive Office Building Thursday, November 4. (Photo: Charles Dharapak/AP Wide World )

Friday, November 5—President Bush began his day in the nation's capital by meeting with his Cabinet members to discuss plans for the next four years. It was the first Cabinet meeting since August 2.

Afterward, he held a press conference, telling reporters he has earned "political capital" by winning the election and he plans to spend it.

"When you win, there is a feeling that the people have spoken and embraced your point of view, and that's what I intend to tell the Congress," Bush said at the press conference, explaining the meaning of political capital. He said he would spend that capital on social security and tax reform, moving the economy forward, and winning the war on terror.

"I feel it is necessary to move an agenda that I told the American people I would move," Bush said.

The press conference, which was held in the Old Executive Office Building next to the White House, is the 17th since Bush was elected in 2000.

The President told his Cabinet members that the election is over and that "we're here for a reason." He also said there will be some changes in his staff and Cabinet, mostly because some people were burned out from the pressure of working at the White House.

The first major change could be Attorney General John Ashcroft, although Bush would not confirm the rumor. Unnamed sources have told reporters Ashcroft could resign within the next two weeks.