TERM TWO BEGINS: Lets hope it goes well for everyone.

UPDATE: Here’s the text of Bush’s inaugural address. He’s not thinking small: “Democratic reformers facing repression, prison, or exile can know: America sees you for who you are: the future leaders of your free country.” He plugs the Koran, too.

ANOTHER UPDATE: Funny, I switched about halfway through from NPR to an AM station running Fox, and on the AM station the applause sounded much louder.

MORE: Victor Davis Hanson comments. Ed Morrissey writes: “in its own way, this might be one of the most radically classical-liberal American speeches in a generation.”

And Joe Gandelman has some thoughts, and is rounding up reactions. But some people are very upset at the lack of giant puppets.