President-elect Barack Obama hasn’t bought a new tuxedo in 15 years. We find that admirably frugal if not exactly fashion-forward. But, really, how much do men’s tuxedos change from year to year? With that in mind, he’s going to wear a new one to his inauguration, and he’s getting it from an Illinois clothing line: Hart Schaffner Marx.

(We guess the one in this 2005 AP picture (above, from the Politico.com Web site) was his old one, or a rental.)

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It’s the question on every designer’s mind: What will Michelle Obama wear for the inauguration ceremony, and then the inaugural balls? There hasn’t been quite this much buzz about dressing a first lady since Jackie O. stepped foot into the White House in 1961.

So WWD.com, the online incarnation of Women’s Wear Daily, asked some top designers to sketch their vision of an inaugural gown for Michelle Obama. Unfortunately, since WWD is a subscription-only site, we can’t show you the sketches, but here are a few choice descriptions, with a scattering of similar looks from the designers’ recent collections:

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Enough about Michelle Obama and the Narciso Rodriguez dress she wore on election night.  It’s Sasha and Malia Obama and their pretty party dresses that have everyone talking now.

Malia’s pretty red bubble-hemmed dress is by Biscotti, and the same dress and versions of it costs $110 at Neiman Marcus and Nordstrom or at select children’s clothing sites, such as Best Dressed Child (where it is $104). Everyone is saying the dress is sold out, though. Malia made her own little fashion statement by wearing a different belt with the dress.

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The future First Lady stepped onto the victory stage in Chicago’s Grant Park and into the history books last night in a striking black and red embroidered dress by American designer Narciso Rodriguez. Michelle Obama’s dress was plucked from his spring 2009 collection.

The world watches what First Ladies wear, and will be especially observant of statuesque Michelle Obama, who has also worn designs by Thakoon, Maria Pinto and Isabel Toledo, according to WWD. Her clothing choices from this point on will be scrutinized by millions for decades. (No pressure there!)

Her selection of a bold statement dress promises style watchers will have a lot to look forward to for the next four years. 

Barack Obama and John McCain masks are hot for Halloween, but by far the most popular political look roaming the streets Friday will be Sarah Palin, McCain’s high-profile running mate.

Big mask-makers missed the time window to produce Palin masks - her selection came too late. There are a few masks, such as this molded Sarah mask ($30, left), or you can go the more economic paper mask with Sarah’s photographic likeness ($1).

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When it comes to style, Cindy McCain is more than prepared for a role as first lady. Her wardrobe choices are impeccable, flattering, colorful and they sure look like couture - even though the details of the designers she favors rarely slip into the media.

We do know the gorgeous golden dress she wore at the Republican National Convention in September was a classic Oscar de la Renta (above left). If all those accessories - a pair of 3-carat diamond earrings, a Chanel J12 Ceramic watch, a four-strand pearl necklace and slick designer peep-toe black heels - were real, the ensemble cost upwards of $300,000. Last week, at the final presidential debate, she wore a striking red nautical slim suit with a collarless jacket (above right), trimmed with gold buttons.

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We at Shopperati understand all that money you spent on Sarah Palin’s clothes. We don’t see why the media has their panties in a bunch over a little $49,000 bill at Saks. And everyone knows that $79,000 at Neiman’s buys practically nothing these days. Nothing.

So rest assured that we are on your side. We think that outlay for a month’s wardrobe is completely appropriate, and we actually have a suggestion: Take some of those ziillions of advertising dollars and spread the wealth around among other fashionistas! You’re guaranteed more buzz for your buck.

Do you hear what we’re saying? For the right price, our vote can be bought. Never mind Joe the Plumber. It’s us you want.

Here’s how we’d spend that $49,000 at Saks, for starters. And we’d promise you way more traction than Gov. Palin’s getting in those lookalike suits.

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