Caught in the Web, 1860. Governor Sarah Palin of Alaska announced that she would not seek reelection and that she would resign by the end of July. “‘We’re not retreating,’” she said, citing General Douglas MacArthur, who was not the author of the quotation. “‘We are advancing in another direction.’” No one knew why she resigned. “Everybody I�??ve talked to thinks it�??s a little crazy,” said conservative pundit William Kristol. “But maybe not. What is she going to accomplish in the next year as governor?”AP via NO Times-PicayuneLATLATWPPoliticoAnchorage Daily NewsNYTNYTThe U.S. unemployment rate reached 9.5 percent, and reports for June …

An American cattleman. The U.S. Bureau of Labor Statistics announced that 651,000 jobs were lost in February (making it the third straight month in which more than 650,000 jobs have been lost) thus increasing the unemployment rate to 8.1 percent, the highest level since 1983. The Obama Administration pointed to 60 new highway-paving jobs in Maryland as proof that the $787 billion stimulus package was succeeding. “That’s how we’re going to get the country back on its feet,” said Transportation Secretary Ray LaHood. The White House hopes that the stimulus package will generate 3.5 million jobs; 4.4 million have been …

President Barack Obama addressed a joint session of Congress, offering a broad outline of a massive spending plan paired with $2 trillion in spending cuts over the next decade. “Now is the time,” he said, “to jump-start job creation, restart lending, and invest in areas like energy, health care, and education.”NPR.orgIt was announced that General Motors lost $30.9 billion last year; that U.S. GDP fell 6.2 percent in the fourth quarter of 2008, exceeding the officially predicted 3.8 percent drop, and even the 5.5 percent drop economists had expected; and that the U.S. government will own up to 36 percent …

Israel bombed Hamas targets in Gaza for three days, killing at least 300 people, 50 of them civilians, and blowing up a mosque and a television station. Palestinians seeking to flee into Egypt were turned back; a doctor at a Gaza hospital said that after 18 months of Israeli sanctions the lack of medical facilities made it better for a patient “to be brought in dead.” Israeli Defense Minister Ehud Barak said that the bombing, ordered in retaliation for ongoing rocket attacks by Hamas, would be “widened and deepened as is necessary,” and an area around Gaza was declared a …

An American cattleman. President George W. Bush announced a $13.4 billion bailout for General Motors and Chrysler. The bailout, which will make use of funds authorized by Congress in October for the rescue of U.S. financial institutions, requires among other things that the automakers sell their fleets of private aircraft. “I’ve abandoned free-market principles,” said Bush, “to save the free-market system.”New York TimesBreitbartPresident-elect Barack Obama called for an expansion of his economic recovery plan in order to save a half-million more jobs atop the 2.5 million he already hopes to save, at a total cost of $600 billion or $700 …

Caught in the Web, 1860. Federal agents arrested hedge-fund manager Bernard Madoff and charged him with running a $50 billion Ponzi scheme, possibly the largest in Wall Street history. Madoff faces a maximum penalty of 20 years in prison and $5 million in fines; he had hoped to distribute his last $200 million to friends, family, and favored employees before his arrest, but was turned in by his sons. SECNYTBloombergWSJNYTRepublicansenators killed a plan to loan $14 billion to American automakers, and the White House said it would consider other options to save the industry and as many as three million …

The Labor Department reported that 533,000 people lost their jobs in November, a further 621,000 people were forced into part-time employment, and 422,000 more simply dropped out of the labor force. The report, describing a situation far worse than economists expected, also recorded 24,000 layoffs by auto dealers.MarketwatchRepresentatives of the Big Three car companies, facing their lowest sales in decades and, in the case of Chrysler and General Motors, imminent collapse, again appeared before Congress (traveling by car and commercial flights this time, rather than on private jets) to ask for $34 billion in aid, a few billion less than …

A Christian martyr. After a trial based predominantly on classified evidence, much of which could not be discussed with the defendants, U.S. District Judge Richard Leon ordered the release of five Algerian prisoners from Guantanamo Bay, where they have been held without charge for seven years based on a single, unidentified source. “To allow enemy combatancy to rest on so thin a reed,” said Leon, “would be inconsistent with this court’s obligation.” The judge called upon the Justice Department to accept his ruling, saying that the Algerians deserve to go home and that an appeal would keep the prisoners at …

Democrats were outvoting Republicans in all nine states that track the party affiliations of early voters, indicating a likely election victory for Barack Obama. George Mason University“It’s gonna get nasty,” Obama told a crowd in Missouri.CNNRepublicans claimed that Democrats were coercing dementia patients to cast absentee ballots,Des Moines Registerand fliers posted in black neighborhoods of Philadelphia falsely warned that voters with unpaid parking tickets would be arrested at the polls.APIt was reported that Obama‘s half-aunt Zeitun Onyango lives in a Boston housing project and is an illegal immigrant–a detail likely leaked by the Bush Administration against the procedures of the …

A Christian martyr. The Dow Jones Industrial Average fell 777 points in one day after the House of Representatives failed to pass a Wall Street bailout plan, first put forth by President George W. Bush, that would have granted Treasury Secretary Henry Paulson up to $700 billion to buy, at any price, toxic mortgage-backed assets from financial firms. “It’s not based on any particular data point,” said a Treasury spokeswoman of the $700 billion figure. “We just wanted to choose a really large number.”Wall Street JournalWashington PostForbes.comSenator John McCain announced that fixing the economy was more important than politicking, suspended …

One million people fled New Orleans to avoid Hurricane Gustav, which landed in Louisiana as a weakened category-2 hurricane and caused relatively little damage. Mississippi officials ordered people still living in the FEMA trailers erected after Hurricane Katrina to evacuate, and John McCain canceled opening-day ceremonies for the Republican National Convention at the Xcel Energy Center in Saint Paul, Minnesota. “This is a time when we have to do away with our party politics and we have to act as Americans,” said McCain. “Not as Republicans.”GuardianIOL.co.zaNew York TimesUSA TodayYahoo!McCain picked Alaska Governor Sarah Palin, 44, as his running mate. Palin, …

Senator Barack Obama, having amassed more than the 2,118 delegates needed to secure a majority, was acknowledged as the Democratic presidential nominee and claimed victory before a crowd of almost 20,000 people in St. Paul, Minnesota, knocking knuckles with his wife, Michelle, in a gesture known as “dap.” “It thrilled a lot of black folks,” said author Ta-Nehisi Coates. “He wears his cultural blackness all over the place. Barack is like Black Folks 2.0.”New York TimesWashington PostEarlier that evening, Senator John McCain delivered a speech to a crowd of a few hundred in Kenner, Louisiana, in which he tried to …

Israel, a few days before Yom Kippur, declared that the Gaza Strip is now a “hostile entity,” and the office of Prime Minister Ehud Olmert (who is under investigation for corruption) announced a collective-punishment plan that includes “limiting the transfer of goods to the Gaza Strip, cutting back fuel and electricity, and restricting the movement of people to and from the Strip.” Hamas spokesman Fawzi Barhoum condemned Israel’s “criminal, terrorist Zionist actions.”BBC NewsBBC NewsABC NewsU.S. Secretary of State Condoleezza Rice, who recently was denied an audience with the Pope, went to Jerusalem to bring peace,BBC Newsand it was reported that …

Caught in the Web, 1860. A White House report showed that only eight of eighteen benchmarks for progress were being met in Iraq, but President Bush asked Congress to wait for another report in September before passing judgment.NYTNYTRyan C. Crocker, U.S. ambassador to Iraq, pleaded against withdrawal. “In the States,” said Crocker, “it’s like we’re in the last half of the third reel of a three-reel movie, and all we have to do is decide we�??re done here, and the credits come up, and the lights come on, and we leave the theater and go on to something else. Whereas …

In Baghdad, at a gathering place for poor Shiite laborers, the owner of a truck filled with wheat announced that he was looking for workers. A crowd gathered around the truck and it exploded, killing 70 people and wounding 236.NYTIt was revealed that billions of dollars in Iraqi oil revenues had not been spent, and the head of Iraq’s Commission on Public Integrity was accused of graft.NYTOutgoing Representative Cynthia McKinney (D., Ga.) introduced a bill to impeach President George W. Bush for misleading Congress on the war in Iraq and implementing an illegal domestic spying program.Newsvine.comPresident Bush said that any …

Research by U.S. epidemiologists and Iraqi physicians found that 654,965 Iraqis have died as a result of the Iraq war, though half of households surveyed were unsure of who to blame for the deaths of their family members. President George W. Bush said that he did not consider the study “a credible report.”Johns Hopkins UniversityReutersThe United StatesArmy was planning to maintain current troop levels in Iraq through 2010, and to replace its advertising slogan, “An Army of One,” with a new slogan, “Army Strong.”APInsurgents in Baghdad fired a mortar round at an ammunition dump on a U.S. military base, setting …

Killing Ground. Iranian president Mahmoud Ahmadinejad, speaking at the United Nations in New York, proclaimed his love for all the world’s peoples, and suggested that the United States halt domestic fuel production and buy its energy from him “at a fifty percent discount.”BBC NewsVenezuelan president Hugo Chavez objected to the smell of sulfur in the U.N.’s General Assembly hall, and offered to relocate the U.N.’s headquarters to Caracas. New York timesFox NewsTed Turner called the Iraq war one of the “dumbest moves of all time,”CNNand a spokesman for the Iraq Study Group, a think tank created to analyze events in …

Under the presumed influence of White House Chief of Staff Joshua Bolten, who collects photographs of President George W. Bush’s hands, Karl Rove was relieved of his position as presidential policy adviser in order that he might focus his energies on the November midterm elections, and White House press secretary Scott McClellan resigned. “One of these days,” the President said of McClellan, “he and I are going to be rocking in chairs in Texas and talking about the good old days.”USA TodayForbes.comBBC NewsIn Iraq, three U.S. soldiers were killed by a bomb and at least 27 Iraqis were killed in …

Caught in the Web, 1860. Iran announced that it had successfully produced low-grade enriched uranium; to celebrate, men in traditional dress danced with uranium samples.Reuters via Yahoo! NewsThe Iranian government also promised to give $50 million to the Palestinian Authority, now controlled by Hamas, which let it be known that it would recognize Israel’s right to exist if the Jewish state were to withdraw from the entire West Bank, East Jerusalem, and Gaza. CNN.comDemocracy Now!A suicide bomber killed nine people at a falafel restaurant in Tel Aviv,The New York Timesand in Sri Lanka bomb attacks by Tamil rebels killed 16 …

Lost Souls in Hell, 1875. At least 42,000 people died in an earthquake in Pakistan,ABC Newsand hundreds of people in Mexico, Guatemala, and El Salvador were buried alive in mudslides caused by Hurricane Stan.Science DailyBritain accused the Iranian Revolutionary Guard of providing Iraqi Shiite groups with the technology to carry out bombing attacks.BBC NewsA suicide bomber in Iraq blew himself up on a bus, killing ten people,BBC Newsand the Supreme Court of Israel ordered the Israeli Army to stop using Palestinians as human shields.BBC NewsThe CIA announced that it would not punish any of its employees for intelligence failures leading …