The Obama family is definitely leaning modern, with Rothko, Degas and Diebenkorn among the artists represented. They've also included a word painting by Ed Ruscha. Not wanting to deprive the public of the opportunity to view works on display, the Obamas limited their choices to artwork in museum storage.

There's now a lot of money hanging from those White House walls. "Red Band" by Rothko, "Berkeley No. 52" by Diebenkorn and "White Line" by Sam Francis together are estimated to be worth between $20 million and $30 million. Throw a piece by Jasper Johns into the mix – specifically "Numerals, 0 through 9" – and you get a sense of the collection the Obamas have assembled.

Even with access to a collection of that caliber, though, I'd still never take Obama's job. And, there aren't enough Rothkos out there to change my mind.

Michelle Obama has already taken a rake to the White House lawn tohelp put a kitchen garden in, now the First Family is taking matters into their own hands when it comes to White House decor. New York magazine reports that Barack and Michelle Obama have decided not to use taxpayers' money to renovate their private quarters at the White House. Traditionally new presidents have $100,000 of government money to outfit their rooms. But the Obamas, who hired famous interior designer Michael S. Smith. will not be using public funds or accepting free goods to redecorate their quarters. Because it will be out of public domain, the exact budget for the Obama overhaul isn't known. Michelle Obama has expressed interests in brands like Pottery Barn but that might be a bit of a waste of Mr. Smith's talents.

The 2009 Presidential Inauguration is inspiring special commemorative clothing and jewelry all over the world. We found two jewelers in/near Washington D.C. whose pieces are truly extraordinary: Ginger and Chas Schwartz & Son.

Featured in our gallery are cherry blossom items, like the pink sapphire and diamond Cherry Blossom Brooch you see here ($36,000), silver and gold monuments, and a $10,000 diamond Obama necklace or brooch certain to create some real Obama Drama.

The designers include Chas Schwartz & Son as well as Suzanne Somersall and R-Nichols, both available from Ginger (in Bethesda, MD and Winter Park, FL). If you've never bought inauguration commemorative jewelry before, perhaps 2009 is the year for a change.

The Washington Post has announced that interior designer Michael S. Smith will be designing the new Obama White House. Known for his work with high-profile celebs like Steven Spielberg and Rupert Murdoch, Smith hails from Santa Monica, California, and creates a sunny aesthetic that seems like welcome change at Penn. Ave.

In a statement released by Michelle Obama, Smith was lauded for his "family-friendly style," and is rumored to be shopping already at kid-focused "everyday retail stores," according to the Post.

Smith's released statement noted the family's casual style and desire to showcase contemporary American artists and affordable decor. Looks like Mrs. O's high-low fashion aesthetic may transfer to the White House.

Check out Smith's Top 10 Rooms over at Domino, where he first mentioned his desire to redesign the White House back in April.

Barack Obama may be moving into the White House but if you have nearly $10 million you can move into a replica. The NY Times had a story on Fred Milani who is selling his White House replica home in Atlanta. The 16,500 square foot home was Milani's dream home but now the Iranian-American home developer is being forced to scale back and sell his home. So far he's avoided foreclose twice and is selling a variety of other properties.

Inside the facade the Atlanta White House includes a hodgepodge of details include religious images, American political iconography and McMansion details like coffered ceilings, wrought iron banisters and a sweeping staircase. The home includes an Oval Office with a replica of George W. Bush's desk and there is a Lincoln bedroom with a picture of Lincoln and the Emancipation Proclamation painted onto a bedroom wall. Milani's Christian faith is evidenced in a topiary that says God loves you, a congregation room in the basement, a crucifix and a tapestry of the Last Supper. Milani told the NY Times that and his wife believe that God will help them sell the house. They are going to need all the help the can get. It is listed at $9.88 million.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Barack Obama may not be able to move into the White House but at least he has a view of his new home. President-elect Barack Obama and his family will be moving to Washington D.C. this weekend and will be staying at the Hay-Adams hotel through January 15. After that they will move to Blair House, the traditional pre-inaugural home. Sasha and Malia Obama start school on Monday at Sidwell Friends School in Washington D.C. The Hay Adams penthouse presidential suite usually goes for between $2,500 and $5,000 per night according to CBS News. It only has one bedroom so it is likely the Obamas have rented more than one suite for the next two weeks. It does feature a living room overlooking the White House, Lafayette Park and St. John's Church and includes a large dining table as well as a gas-lit corner fireplace. The master bedroom features a spectacular view of the White House.

We may all be cutting back, but at the White House dinner Friday night for foreign leaders to discuss the global financial crisis, the meal was anything but spare. The menu for around 24 global leaders gathered in the White House State Dining Room included, according to the AP, fruitwood-smoked quail with quince gastrique; quinoa risotto; thyme-roasted rack of lamb; tomato, fennel and eggplant fondue; a salad course of endive, baked Brie and walnuts; and a pear torte. What's raising some eyebrows though is one of the wine selections, the Shafer Cabernet Hillside Select 2003, which runs for around $300 a bottle, if you can find it. This wine was served with the main course while more modest wines such as the Landmark Chardonnay Damaris Reserve 2006 (around $40 a bottle, served with the appetizer) and the Chandon Étoile Rosé sparkling wine (about $30 a bottle, served with dessert) rounded out the rest of the meal. The President pays for his own groceries in the White House but state dinners such as this one are paid for with taxpayer dollars. It is perhaps some comfort in this case that at least two of those attending: President Bush and French President Nicolas Sarkozy are said to be teetotalers. Others in attendance included Australian Prime Minister Kevin Rudd; Canadian Prime Minister Stephen Harper; Chinese President Hu Jintao;German Chancellor Angela Merkel; and British Prime Minister Gordon Brown.