- The market? Whoa, Nellie! What a day. Breaking out over resistance we are. Nice to be long. Just in case you've been in a cave today, the Fed cut rates .5%. The market was up before the news, but then took off as the announcement was made. "Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time," the Fed said in a statement outlining its decision.
- Barack Obama proposes a middle class tax cut by raising taxes on the rich. Obama's tax plan, set to be announced in a speech in Washington, includes a cut of up to $1,000 for working families, a mortgage interest credit for low- and middle-income homeowners and the elimination of income taxes for seniors making less than $50,000 per year. If you qualify and want a $500 check, Obama's your man.
- Hillary's promising free health care, as long as you're willing to pay for it. LOL. The Clinton campaign estimated the program's cost at $110 billion, which would be made up through modernization of technology, constraining prescription-drug costs and discontinuing President Bush's tax breaks for households making more than $250,000 annually.
- So, since government estimates are normally wrong by a factor of 3 to 10, it'd be more than that. And you can only spend the money from eliminating the Bush tax cuts once; you can't spend the same money multiple times. And who pays for those "modernication of technology" costs? Pricey item that.
- A University of Florida student tasered at a John Kerry forum. Looks like whenever Cindy Sheehan decides to run for President, she has a Vice Presidential candidate at the ready in Andrew Meyer.
- If you're watching TV, you can't escape the iPod Nano commercial with Feist singing "1, 2, 3, 4 tell me that you love me more!" Catch the buzz! Pretty catchy, even if I'm burning out on it.
