JIM TREACHER IS NOT IMPRESSED: Obama Administration takes victory lap in clown car. Well, their PR has been pretty weak, considering.

On the other hand, The Economist says, “In killing Mr bin Laden the current Democratic administration has acquired a national-security credential.”

Related: Huffington Post: Administration Grows Frustrated As Conversation Shifts From Bin Laden To Waterboarding. Well, the Bush Administration was frustrated by the same thing. . . .

Also: The head of the CIA admitted yesterday that there was no live video footage of the raid on Osama bin Laden’s compound as further doubts emerged about the US version of events. Sheesh. So what were they watching in that Situation Room photo?

Meanwhile, this is probably the most politically significant story of the day: Stocks sink after weak data on jobs.