Friday, October 22: President Bush signed what is being called “the most sweeping rewrite of corporate tax law in nearly two decades”, providing $136 billion in new tax breaks on businesses, oil and gas producers, engineering, construction, architectural firms, tobacco farmers, NASCAR race track owners, and other groups. Like his previous tax cuts, Bush claims these cuts will help the economy. Sen. John McCain, R-Ariz., called the package, “a classic example of the special interests prevailing over the people’s interests.”
Friday, October 22: The Dow Jones industrial average closed at its low for the year as world oil prices continued to rise. In the past year, the cost of oil has increased more than 75 percent. With the price of home heating oil increasing, the weather turning colder, and with the flu vaccine shortage, it appears that we are in for a grim winter.
Saturday, October 23: The bodies of 49 Iraqi army recruits were found massacred. Iraqi Police said the bodies of the recruits were discovered near the village of Mandali, south of Baquba. Reports are that the recruits were killed in an execution style slaying.
Saturday, October 23: Ed Seitz, assistant regional security officer at the US embassy in Baghdad, is killed. Seitz is believed to be the first US diplomat killed during the Iraq war.
Sunday, October 24: It is reported that 380 tons of powerful conventional explosives are missing from one of Iraq’s most sensitive former military installations. United Nations weapons inspectors had monitored the site for many years, but the White House confirms that the explosives vanished sometime after the invasion last year. The White House claims that national security advisor Condoleezza Rice was informed of the missing explosives within the past month, and that President Bush learned of it only ten days ago.
Monday, October 25: Pentagon and congressional officials said Monday that the Bush administration intends to seek about $70 billion in emergency funding for the wars in Iraq and Afghanistan early next year, pushing total war costs close to $225 billion.
Monday, October 25: President George Bush addressed a hand-picked crowd in Davenport, Iowa, assuring them that, “we are turning the corner.” Bush refused to answer reporters questions about the 380 tons of missing explosives in Iraq.
Monday, October 25: In an interview on the Today Show, Vice President Dick Cheney told correspondent Jamie Gangel, “On the big issues, I think we got it right.”