• President Obama, in his weekly address aired Saturday, announced that the Treasury Department is starting the process of implementing tax cuts from the $787 billion economic stimulus plan he signed into law Tuesday. By April 1, a typical family will begin taking home at least $65 more every month.
• The GOP governors of Mississippi, Idaho, Alaska, Texas, South Carolina, and Louisiana said yesterday that they plan to turn down a portion of what’s offered in the stimulus bill that President Obama signed last week. GOP Gov. Schwarzenegger of California, however, said that he would be happy to take the money his colleagues turn down.
• President Obama today will announce that he will try to put the nation on track to cut the deficit he inherited from the previous administration in half by the end of his first term. Most of the savings will come from ending the war in Iraq, raising taxes on the wealthy, and a more efficient government.
• Illinois Gov. Pat Quinn (D) is calling on fellow Dem Roland Burris to resign from the U.S. Senate seat once filled by President Barack Obama. Quinn said the controversy surrounding Burris’ appointment has cast a shadow over his service in the U.S. Senate.
• “Slumdog Millionaire,” the little film about a poverty-raised boy who goes on a game show as a way to find his lost love, won best picture last night, earning 8 Oscars at the 81st annual Academy Awards. Sean Penn won best actor for “Milk” and Kate Winslet won best actress for “The Reader.” Best supporting honors went to the late Heath Ledger for “The Dark Knight” and to Penelope Cruz for “Vicky Cristina Barcelona.”
