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 01.18.08

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 01.04.08

Obama, Huckabee win in Iowa.

Democrat Barack Obama and Republican Mike Huckabee are now the frontrunners in the in the White House race after yesterday's caucuses in Iowa. Obama had the support of 38 percent of voters while Huckabee earned 34 percent. Falling behind Obama was John Edwards who came in second place and Senator Hillary Clinton who fell to third. On the Republican side, Mitt Romney trailed Huckabee and Fred Thompson took third place. Next week, the presidential hopefuls square off in the New Hampshire primary.

Meanwhile, two White House hopefuls are calling it quits after last night's results. Senators Joe Biden and Chris Dodd are abandoning their bids for the Democratic presidential nomination. Both candidates received less than one percent in the Iowa caucuses.

Pakistani President Pervez Musharraf is defending himself against accusations that he had a role in former prime minister Benazir Bhutto's assassination. Musharraf says Bhutto ignored government warnings, saying the former prime minister was informed of the threat to being at the park where she was killed last week. He also says he's not satisfied with the investigation into her death. A team of Scotland Yard investigators arrived in Islamabad today to help in the probe of her death.

There are more delays in store for space shuttle Atlantis. NASA says the shuttle will be grounded until late January, or more likely, February, to replace a suspect connector in the fuel tank. The connector is believed to be responsible for a series of launch postponements last month. NASA faces a 2010 deadline for retiring its three shuttles and completing the space station.