Bush to present plan to boost economy

Hello on this Friday, the 18 day of January 2008. I'm Kristin Volk with a UPI news headline.

President Bush is putting together an economic stimulus package in an effort to jump-start the sagging economy. He's scheduled to unveil his plan later today. That reportedly includes income tax breaks for people...up to $800 for individuals and $1,600 for married couples. Yesterday, Bush discussed options over the phone with lawmakers with Treasury Secretary Henry Paulson. Those on Capitol Hill are reportedly considering smaller rebate checks and more money for the unemployed and people on food stamps.

And time may be running out for Republican presidential hopefully Fred Thompson. Thompson has reportedly admitted that a disappointing finish in tomorrow's GOP primary in South Carolina may end his chance in the race. The former Tennessee senator is hoping that a combination of his Southern roots and conservative views will lead to a breakthrough in South Carolina for his campaign. Thompson came in third in Iowa and received one percent of the vote in New Hampshire.

The CIA says Al-Qaida and followers of a tribal leader are to blame for the death of former Pakistani Prime Minister Benazir Bhutto. CIA Director Michael Hayden says fighters allied with Pakistani leader Baitullah Mehsud (By-too-la May-sood), with support from Al-Qaida, plotted Bhutto's assassination. The two groups are also apparently behind the violence that threatens to destabilize Pakistan. Hayden warns that they intend to do more harm to the country in the future.

The Israeli Defense Minister has ordered that border crossings be closed that lead to and from the Gaza Strip. This comes after days of rocket firings into Israel by Palestinian militants in Gaza. More than a hundred rockets have reportedly been fired. The Israeli Army has retaliated with military strikes that have apparently killed at least two-dozen Palestinians. The border closings will block food, fuel and medicine from entering Gaza.

Thanks for watching today's headline, and check out our weekly White House wrap-up on upi.com. For all of us at UPI, have a great weekend!

Category:

News & Politics

Tags:

• economy
• recession
• Bush
• tax
• break
• money
• Fred
• Thompson
• South
• Carolina
• Al-Qaeda
• Bhutto
• Pakistan
• Gaza
• Israel