Both ABC's David Muir and NBC's John Yang looked at the federal government's efforts to revive the economy. From the White House, Yang took the fiscal side. He found Congressional Democrats pushing for "tax rebates to go to people who make so little money they do not pay income tax." Muir chose the monetary stimulus, outlining the sectors that may benefit from yesterday's reduction of annual short term interest rates to 3.5% by the Federal Reserve Board. Muir called it an "immediate Band Aid for borrowers" specifically those with credit card debt and home equity loans.
As part of CBS' Hitting Home series, Kelly Cobiella showed us economic hurt that gets no federal bailout. She profiled the job search of James Matarazzo, a laid-off mortgage sales executive in Plantation Fla. In the last six weeks he has sent out hundreds of resumes, telephoned and e-mailed 50 people each day, posted his name on Internet job boards and hired a job search firm. Cobiella's rule of thumb is to allow "at least one week of searching for every $10,000 in salary."
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