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COMMENTS: Touch that Third Rail
On a day when unemployment continued to worsen and annual housing foreclosures surpassed 3m and California declared a $42bn state budget deficit, NBC's Chuck Todd covered Barack Obama's progress on Capitol Hill. He "won his first political fight in Congress," even before Inauguration Day, as the Senate voted not to block the second tranche of the Treasury Department's $700bn TARP bailout for high finance. At the same time the House of Representatives unveiled its $825bn two-year plan for fiscal stimulus. Todd also noted an interview Obama granted to Washington Post in which he pledged "to tackle entitlement reform." Todd translated: "In other words he is going to touch the third rail of American politics--Social Security."
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