It's official, Nancy Pelosi is the new Democratic minority leader in the House. She is the first woman to ever head a major party caucus in Congress.

Bob Menendez (NJ) eeked out a one-vote victory in the race for Caucus Chairman, the number three leadership slot. Menendez passed on Toricelli's Senate seat for this position, and it's good for the party to have a Latino in a top leadership post.

Steny Hoyer (MD) will replace Pelosi as Whip, the number two slot.