Austin School Funding Suit Highlights District Shortfall
The Austin Independent School District testifies that state funding shortfalls force hundreds of job cuts and hinder adequate education. The trial questions the Robin Hood system, with districts claiming unconstitutional property tax limits and insufficient funds for 4.3 million Texas students.
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Austin Independent
Pat Forgione
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Forgione
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Judge orders removal of Bible display at Harris County courthouse
A federal judge ruled the Bible monument outside Harris County civil courts building violates the First Amendment. The county must remove it within 10 days and pay 41000 in court costs and fees, with the judge saying the display impermissibly endorses Christianity.
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Bush taps Porter Goss to lead CIA in turbulent era
President Bush named Porter Goss a Republican congressman and former spy to head the CIA as the agency battles a tarnished reputation and new terror threats. Goss, former chairman of the House Intelligence Committee, vows to guide reforms amid Democratic criticism and calls for a special session on intelligence changes after the Sept. 14 attacks.
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Fed raises rates as economy appears stronger
The Fed boosted the federal funds rate from 1.25 percent to 1.50 percent and signaled further quarter-point hikes this year. Banks followed by lifting the prime rate from 4.25 percent to 4.5 percent, while Wall Street gained on the upbeat outlook.
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Washington
Federa Reserve
Wall Street
Fed
Federal Reserve
Alan Greenspan
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