UPI VIDEO NEWS 01.25.08

Egpyt closes off parts of border to Gaza.

Egypt is now sealing off parts of its border with Gaza. That's after tens of thousands of Palestinians have crossed back and forth with little interference for the past two days. Earlier this week, Palestinians breached a border crossing, allowing them to get supplies since Israel sealed its border with Gaza a week ago. Egyptian soldiers in riot gear formed a human chain today while other soldiers rolled out barbed wire. The U.S. and Israel have been pressuring the country to close open border areas because they're worried that terrorists with weapons could travel undetected from Egypt into the Palestinian territory.

Washington leaders have agreed on a stimulus plan to give American taxpayers rebates of $600 or more, but people may not see that money for a while. Government officials say it could be May or June before Americans get any real cash. That's because the IRS has to cut the checks, and the agency is now in the middle of the '07 tax-filing season. However, nothing can get started until the bill is passed by the House and Senate. Congressional leaders say they hope to have legislation on the President's desk by the middle of next month.

Democrat Dennis Kucinich is reportedly dropping out of the presidential race. The congressman from Cleveland told a newspaper yesterday that he would make his withdrawal announcement today. The 61 year old has been an outspoken Iraq war critic who's consistently voted against funding the war and led anti-war efforts in Congress. Kucinich has said he won't endorse another candidate for the Democratic presidential nomination.

An explosion in Beirut today has killed four people, including Lebanon's top anti-terror investigating officer. The attack, which wounded 38 others, happened in a Christian neighborhood northeast of the capital. Violence has escalated in Lebanon as pro and anti-Syrian lawmakers in parliament are locked in a battle to elect a president. The country has been without a leader since November when pro-Syrian Emile Lahoud (a-meel la-hood) stepped down at the end of his term.

UPI VIDEO NEWS 01.24.08

Economic stimulus package imminent.

A deal to boost the lagging U.S. economy with a $150 billion stimulus package is reportedly imminent. Government officials say an announcement on the plan could come as early as this afternoon. Final details are still being negotiated, but officials say the current outlines of the package would give individuals a tax rebate check for about $800. Families could get up to $1600.

Two new polls show Republican presidential hopeful Rudy Giuliani is slipping in Florida. Florida is a state he once called crucial to his presidential chances. The former New York mayor reportedly registers 15 percent among Republican primary voters. He's tied with former Arkansas governor Mike Huckabee, who only has a fraction of the organization that Giuliani has in Florida. Polls indicate John McCain is at 25 percent in the state and Mitt Romney's at 23 percent.

And on the Democratic side, Barack Obama's big lead over rival Hillary Clinton has slipped slightly, but he still has the lead in South Carolina. That's according to a new poll just released two days before the state's presidential primary. The Illinois senator reportedly lost three points overnight and is now at 39 percent. Clinton stands at 24 percent. The shift apparently occurred since Monday night's angry debate between the two when they traded harsh accusations. Since then, John Edwards, who wasn't part of the argument, has climbed four points and is now at 19 percent.

People from Gaza are pouring into Egypt for a second day today. Yesterday, militants blew open the border separating Gaza and Egypt, allowing at least 400 thousand people to cross and stock up on supplies. At least 300 thousand Gazans have reportedly crossed today. Last week, Israel blocked off the territory after days of rocket attacks. That's prohibited deliveries of things like fuel and food.

UPI VIDEO NEWS 01.23.08

Palestinians breach wall, flood into Egypt

Tens of thousands of people from Gaza are reaching food and fuel in Egypt after militants destroyed a border wall earlier today. Last week, Israel closed all border crossings with Gaza to punish Hamas for days of rocket attacks on the southern part of the country. Since then, food and other necessities in Gaza have been in short supply and residents there have struggled with major power cuts. Egyptian guards reportedly didn't intervene as scores of people washed over the fences.

Former Senator Fred Thompson is abandoning his bid for the White House. His decision follows a disappointing third-place finish in South Carolina's GOP primary last Saturday. Thompson entered the race in September, long after his Republican rivals had announced their candidacies and began raising money. Analysts say the late entry may have hurt the former "Law and Order" actor.

And yesterday's rate cut by the Fed is giving borrowers immediate relief. Analysts say the average borrower could save hundreds of dollars in just a few months. The nation's 75 million homeowners are reportedly likely to feel the most significant and immediate benefits. But the rate cut could hurt those who save. Rates on money market accounts and certificates of deposits have been dropping in recent weeks.

President Bush says that common ground can be reached on an economic stimulus package. Last week, Bush proposed a temporary, broad-based tax relief package aimed at spurring the nation's slowing economy. That package would infuse about $140 billion into the economy. The Democratic congressional leadership has vowed to pass a stimulus bill quickly. Senate Majority Leader Harry Reid says their hope is to have something on the President's desk before President's Day, which is Feb. 18.

UPI VIDEO NEWS 01.22.08

Fed cuts interest rates.

The Federal Reserve has cut two key interest rates by three-quarters of a percentage point. The rate cut happened earlier today, just as stocks plunged at the opening bell. The Fed lowered its federal funds rate from 4.25 percent to 3.5. That rate affects how much people pay on credit card debt, home equity lines of credit and auto loans. It also lowered its discount rate three-quarters of a point to 4 percent. That rate determines what it costs banks to borrow directly from the central bank. This was the biggest rate cut by the Fed since October 1984.

Democratic presidential candidates Hillary Clinton and Barack Obama engaged in their most heated debate yet last night. Just minutes into the debate in South Carolina, the two exchanged sharp criticisms over health care and other issues. On numerous occasions, they interrupted each other and even turned to direct their responses to each other instead of a panel of moderators. Former Senator John Edwards tried to stay out of the heated exchange. South Carolina voters will go to the polls on Saturday for the first Democratic primary in the South.

Israel is allowing fuel and medical supplies into Gaza today after an earlier blockade left residents struggling with major power cuts. Last week, Israel closed all border crossings with Gaza after days of rocket attacks on the southern part of the country. That sparked massive protests and a fear from aid agencies that the move could turn into a humanitarian crisis.

President Bush marked the Martin Luther King holiday yesterday with a visit to Washington's downtown library named after the historic individual. The President, First Lady and D.C.'s mayor participated in a lesson for a handful children. Bush posted pictures on a bulletin board and taught the students how King fought to change unfair laws.

UPI VIDEO NEWS 01.18.08

Bush to present plan to boost economy.

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.

UPI VIDEO NEWS 01.17.08

Fed chief may support stimulus effort for economy.

Federal Reserve Chairman Ben Bernanke may encourage lawmakers today to stimulate the economy. Legislators are scheduled to question the Fed chief on steps to avoid a possible recession. Democratic lawmakers say Bernanke has already told members of Congress this week that some kind of fiscal stimulus is needed. But analysts say he'll avoid supporting any particular tax or spending policies. Doing so could spark criticism from legislators who oppose them which would put the Fed's reputation for independence at risk.

The Food and Drug Administration is declaring that cold medicines are too risky for babies and toddlers. It hasn't declared yet whether the remedies are okay for older children to continue using. The FDA says the drugs pose serious and potentially life-threatening side effects for children under two. Health groups also say that there's no evidence that oral drugs actually cure cold symptoms in children so young.

Israeli Prime Minister Ehud Olmert is vowing to wage a war to stop Gaza militants from firing rockets into Israel. Militants have fired about 70 rockets at southern part of the country in the past couple of days. In response, an Israeli air strike killed at least two people in Gaza and destroyed a truck. The strike reportedly intended to target a Palestinian rocket position. This is the latest in a surge violence that began after President Bush visited the area last week to spur talks on a Palestinian statehood.

The former adviser to President Bush is dismissing Senator Hillary Clinton's Michigan primary win. During a conference yesterday, Karl Rove said Clinton's victory showed signs of weakness. The former First Lady, who was the only major candidate to appear on the Democratic presidential primary ballot, received about 55 percent of the vote. Another 40 percent of those voting opted for the "uncommitted option." Rove said she ran against quote nobody and nobody got 40 percent of the vote. He also took aim at Clinton's rival, Senator Barak Obama, and questioned his lack of national experience.