Top Items:
Board of Governors of the Federal Reserve System:
For immediate release — The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent. — The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth.
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Washington Post:
Fed Cuts Key Interest Rate as Asian Markets Drop for Second Day — The Federal Reserve today slashed the short-term interest rate it controls by three-quarters of a percentage point, a surprise move meant to keep plummeting stock markets around the world from threatening the underpinnings of the world economy.
New York Times:
Fed Makes Emergency 0.75% Rate Cut
Fed Makes Emergency 0.75% Rate Cut
Discussion:
PoliGazette, Don Surber, Corrente, Seeing the Forest, Rook's Rant and Democratic Strategist
Martin Crutsinger / Associated Press:
Fed Cuts Interest Rate 3/4 of a Point
Fed Cuts Interest Rate 3/4 of a Point
Discussion:
Captain's Quarters, Wonkette, THE ASTUTE BLOGGERS, Balloon Juice and Blue Crab Boulevard
Madlen Read / Associated Press:
Dow drops 465 then gains most of it back
Dow drops 465 then gains most of it back
Discussion:
Watching Those We Chose
John Edwards / CNN:
Clinton, Edwards hold private post-debate meeting — MYRTLE BEACH, South Carolina (CNN) — What were they talking about? — Hillary Clinton and John Edwards met privately backstage following a very contentious Democratic presidential debate in this coastal city, sources with both campaigns confirm to CNN.
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Fred Barnes / Wall Street Journal:
Now McCain Must Convince The Right — John McCain has a problem. After winning South Carolina's primary last Saturday, he should be the overwhelming favorite to capture the Republican presidential nomination. He's not, at least not yet, and the reason is that he's alienated so many conservatives over the past eight years.
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David Brooks / New York Times:
The Voters Revolt — The Reagan administration had its pragmatists …
The Voters Revolt — The Reagan administration had its pragmatists …
Discussion:
The Corner, No More Mister Nice Blog, Shakespeare's Sister, Jules Crittenden and Eunomia
E. J. Dionne Jr / Washington Post:
Crunch Time for McCain — John McCain is feared by Democrats and liked by independents.
Crunch Time for McCain — John McCain is feared by Democrats and liked by independents.
Discussion:
Captain's Quarters, Heading Right, DownWithTyranny!, GregsOpinion.com, New York Times and Naked Politics
Matthew Yglesias:
Someone Didn't Get The Word — Fareed Zakaria: … Ah, those sad, sad, Democrats. So unaware that the war's over. The dude who killed at least fourteen and wounded seventeen in Tikrit must, like the Democrats, have been wearing partisan blinders when he failed to acknowledge the surge's success in bringing the war to an end.
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John R. Emshwiller / Wall Street Journal:
Bill Clinton May Get Payout of $20 Million — Former President Clinton stands to reap around $20 million — and will sever a politically sensitive partnership tie to Dubai — by ending his high-profile business relationship with the investment firm of billionaire friend Ron Burkle.
RELATED:
Eugene Robinson / Washington Post:
What's Gotten Into Bill?
What's Gotten Into Bill?
Discussion:
Campaign Stops, Wake up America, Norwegianity, Daniel W. Drezner, Wizbang, Don Surber, PoliGazette and Publius Pundit
Miles Mogulescu / The Huffington Post:
Winning Ugly: Are the Hil and Bill Winning the Primary Battle …
Winning Ugly: Are the Hil and Bill Winning the Primary Battle …
Discussion:
State of the Day
The Campaign Spot:
Fred Out of Thursday's Debate; Doesn't Plan on Endorsing — I spoke to one of my Thompson sources. — He's still with his ailing mother. “He's just being a good son." — He has not spoken to any other campaign or any other candidates, nor does he intend to at this time.
Discussion:
Captain's Quarters, New York Post, TownHall Blog, Hot Air, Say Anything and race42008.com
Michelle Malkin:
Mystery in Brooklyn: Bomb factory at Columbia University professor's home — The NY Daily News reports today on a disturbing discovery at a Columbia University instructor's home: … Clatts cannot be located. Who is he? … The NYTimes reports on a bizarre twist in the case …
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Ian Traynor / Guardian:
Pre-emptive nuclear strike ‘an option’ — The west must be ready to resort to a pre-emptive nuclear attack to try to halt the “imminent” spread of nuclear and other weapons of mass destruction, according to a radical manifesto for a new Nato by five of the west's most senior military officers and strategists.
Discussion:
The Belmont Club, Outside The Beltway, Hot Air, QandO, Dr. Sanity, rubber hose, Right Wing Nut House, Israel Matzav and The Glittering Eye
The Prowler / American Spectator:
Huckabee Broke — Less than a month after a huge upset victory, and promises that fundraising would be ramped up, former Arkansas Gov. Mike Huckabee is asking his senior staff to keep working for him without pay, while lower level campaign staff are seeing their salaries cut dramatically or eliminated altogether.
Andrew Moylan / Government Bytes:
Bush to Cop Out on Earmarks? — There has been a lot of buzz in recent weeks about the idea of President Bush issuing an executive order canceling all earmarks not found in bill text (roughly 90 percent of them). Unfortunately, the New York Times has a story today that suggests he'll do nothing of the sort.
RELATED:
Robert Pear / New York Times:
Earmarks Likely to Continue, but With Details
Earmarks Likely to Continue, but With Details
Discussion:
Tapscott's Copy Desk, Club for Growth, Say Anything, Washington Post, Captain's Quarters and Redstate
RushLimbaugh.com:
Why Should We Shut Up? — BEGIN TRANSCRIPT — RUSH: One closing thought from the previous hour: I'm noticing this in a lot of conservative media. Those of us who are opposing these McCain... Let me set this up a better way. When Huckabee was coming out of nowhere in Iowa …
Manu Raju / The Hill:
Attorneys probe deepens — The federal investigation into the firing of nine U.S. attorneys could jolt the political landscape ahead of the November elections, according to several people close to the inquiry. — Washington's attention has been diverted from the scandal since …
Gateway Pundit:
Miss Utah “GI Jill” Stevens Needs Your Help — “Obviously she is bright and attractive, but most important, she's a terrific soldier.” … Miss Utah “GI Jill” Stevens needs your vote to help her win Miss America in Atlantic City this Saturday, January 26, 2008.
Curt Anderson / Associated Press:
Jose Padilla is sentenced to 17 years — MIAMI - Jose Padilla, once accused of plotting with al-Qaida to blow up a radioactive “dirty bomb,” was sentenced Tuesday to 17 years and four months on terrorism conspiracy charges that don't mention those initial allegations.