Introducing…The Georgia Mae Morning News

Good morning, Georgia Mae community. Starting today I’ll be posting a summary of some of the morning’s top headlines on most weekdays to give you all a jump start on the day’s news. My hope is that you’ll turn here on those days you’re too busy to sit down and read the paper or browse your usual news sites. And if your idea of news is Us Weekly or the website, Young, Black and Fabulous, then you should definitely bookmark GeorgiaMae.com so we can help you out with current events. So let’s get this thing started, shall we?


ECONOMICS
Switch!: U.S. Treasury pulls a flip-flop
Treasury Secretary Henry Paulson announced yesterday that there is now a different plan for how to spend that $700 billion bailout package that the Congress recently approved.
When Congress OK’d the deal the plan was to spend it buying troubled mortgage assets. Now, Paulson wants to use the money to buy bank stocks and some are calling him a flip-flopper. Paulson says the switch would be best for the economy because after this help, banks would be more likely to lend money to consumers seeking new credit card accounts or money for things like a car or student loan. What do you think about the switch?

The Silver Lining: Gas prices continue to drop
So the economy sucks, but at least gas isn’t $5 a gallon like we all expected it to be by this time. The Associated Press reports that gasoline prices, which have declined by nearly 50 percent since July, are expected to remain relatively low, averaging $2.37 a gallon through 2009, according to the Energy Department. (Regular unleaded at the station up the street from my condo is going for $1.87 a gallon. Whoo hoo!) And even though you’ll probably be paying more to heat your home this winter than you did last year, this dramatic drop in world oil prices means you’ll be paying a lot less than what had been projected.

ENTERTAINMENT
Underwood and Chesney win big
You can pretend to hate country music all you want, but you know that Carrie Underwood’s “Before He Cheats” is on your iPod. Underwood co-hosted the Country Music Association Awards last night and the former American Idol took home the award for female vocalist of the year for the third year in a row. Kenny Chesney snagged the prestigious entertainer of the year award for the third year in a row – fourth time overall – at the awards show which was held at Nashville’s Sommet Center. (Click here for more.)

Adul stalker found dead
An “American Idol” reject who was obsessed with Paula Abdul died in an apparent suicide outside of Abdul’s L.A. home.

POLITICS
Palin Power

Could Gov. Sarah Palin be the future of the Republican party?

POP CULTURE
Politics goes to the dogs
When President-elect Barack Obama announced during his acceptance speech that he’d be buying a new dog for his daughters, he unknowingly launched a new campaign — for the new First Pup.

2 Comments

  1. Bailout Opinion: Why do we let stupid #*@! rich people handle our tax dollars. Why would you bail out a bank, that got itself into trouble because it lent out money to people who couldn’t afford to pay back the money they borrowed, so that they can again lend more money to people who can’t afford to borrow money? That #*@! just don’t make sense at all. The only person I can see that benefitting is, well, the banks. Its about the same as giving a large sum of money to a drug dealer. He’s still gonna sell drugs and make money off the crack heads and college kids. I would rather they just give the money to the people and let us buy a bunch of #*@! made in America and let THAT boost the economy. And to all of us who borrowed more than we could afford to, shame on us. But if you learned your lesson, you are all right and you’ll get out of debt sooner or later as long as you stop spending more than you make. And if you need some inspiration, check out that Will Smith movie, The Pursuit of Happyness.

  2. Young Matt speaks the truth.

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