- Biden: Higher Taxes Patriotic:
Vice Presidential candidate Joe Biden said today that paying higher taxes is a patriotic thing for wealthy Americans to do. Acknowledging the plan for a higher tax rate for those making over $250,000, Biden said on Good Morning America, "It's time to be patriotic ... time to jump in, time to be part of the deal, time to help get America out of the rut."
- Stocks Tumble Despite Bailout:
US stocks hit a three-year low despite the $85 billion government bailout of insurance giant AIG. Acknowledging continuing concern, White House spokeswoman Dana Perino said, "Our economy has the strength to be able to deal with these shocks." President Bush has canceled a trip today to focus on the economy. He's expected to speak at 10:15 ET.
- 175 Arrests in Drug Ring:
US officials announced arrests of 175 people in connection with Mexico's largest drug ring. The arrests took place this week after 15 months of investigation into the Gulf Cartel, a group which plays a major part in the levels of violence in Mexico. A DEA spokesperson said, “We successfully completed a hard-hitting, coordinated and massive assault on the powerful and extremely violent Gulf Cartel."