This Morning On The Stephanie Miller Show

Barack Obama yesterday detailed what his campaign called a four-part “economic rescue plan” for the middle class. The plan includes a temporary tax credit for firms in the U.S. that create new jobs over the next two years and a 90-day foreclosure moratorium for homeowners acting in good faith.

President Bush is scheduled to announce this morning that his administration will spend $250 billion this year to purchase stock in banks and take a number of other bold steps in an effort to combat a global credit crisis that is threatening to push the country into a deep recession.

Asian markets soared for a second day today, led by a record 14% jump in Tokyo, after Wall Street rallied from its worst week ever with an over-900 point jump in the Dow yesterday.

House Dems and GOP-ers pushed dueling economic aid plans yesterday as they jockeyed for political advantage on addressing a crisis that is shaping the last weeks of a high-stakes election. Dems pushed a stimulus package that could cost as much as $150 billion, while the GOP called for more tax cuts and energy exploration.

The chairman of the Virginia Republican Party has compared Barack Obama to Osama bin Laden because of the senator’s past “association” with Bill Ayers. State delegate Jeffrey Frederick (R-Prince William) told volunteers that both Obama and bin Laden “have friends that bombed the pentagon.”

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