Barack Obama Will Never Be President

Wednesday, March 19, 2008

Barack Obama

Barack Obama

Barack Obama

Obama was born in Honolulu, Hawaii to Barack Obama, Sr. (born in Nyanza Province, Kenya) and Ann Dunham (born in Wichita, Kansas). Barack Hussein Obama (born August 4, 1961) is the junior United States Senator from Illinois and a member of the Democratic Party.

Obama grew up in culturally diverse surroundings. He spent most of his childhood in the majority-minority U.S. state of Hawaii and lived for four years in Indonesia. Obama delivered the keynote address at the 2004 Democratic National Convention while still an Illinois state legislator. Since announcing his candidacy in February 2007, Obama has emphasized ending the Iraq War and implementing universal health care as campaign themes.

As a member of the Democratic minority in the 109th Congress, Obama co-sponsored the enactment of conventional weapons control and transparency legislation, and made official trips to Eastern Europe, the Middle East, and Africa. Obama's parents separated when he was two years old and later divorced. His father went to Harvard University to pursue Ph.D. studies, then returned to Kenya, where he died in an auto accident when the younger Obama was twenty-one years old.

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today's papers
Rally 'Round the Fed
By Daniel Politi
Posted Wednesday, March 19, 2008, at 6:15 AM ET

Fed week continues and all the papers lead with the latest efforts by the central bank to prevent a long-lasting recession. The Federal Reserve slashed short-term interest rates by three-quarters of a percentage point yesterday, which was less than the full percentage point Wall Street was expecting but investors still cheered the news. The Dow Jones industrial average was up 3.51 percent when the markets closed. The Washington Post and USA Today note it was the biggest rally in more than five years. The Los Angeles Times does the best job of clearly explaining that the Fed cut two key rates yesterday. The federal funds rate, which is the rate banks charge each other for overnight loans, was cut to 2.25 percent while the discount rate, which is what the Fed charges banks for loans, was reduced to 2.5 percent. After the Fed's announcement, banks cut the prime rate, which means many consumers are likely to see a direct benefit on their credit card bills over the next few months.

The New York Times and Wall Street Journal point out that investors flocked to raise the prices of financial stocks yesterday after two investment firms reported earnings that were better than expected. Lehman Brothers, which many had targeted as the next Bear Stearns, saw its shares rise more than 46 percent. The WSJ leads its world-wide newsbox with Sen. Barack Obama's speech on race in America. Obama distanced himself from the more controversial remarks made by his pastor, Rev. Jeremiah Wright Jr., and used the opportunity to urge Americans to "move beyond our old racial wounds" to deal with problems that affect everyone.

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Daniel Politi writes "Today's Papers" for Slate. He can be reached at todayspapers@slate.com.

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