President rallies public support for health reform

In an address last night, President Obama vows to protect the middle class as he taxes those who earn over $1 million a year to pay for his health care bill. (Reuters)

Director of Obama’s budget office Peter Orszag says overhauling the health care system could be the key to boosting the economy. (NYT)

FDIC Chair Sheila Bair suggests the nation’s largest financial institutions should pay into a fund that covers losses if the banks then fail, which would take some responsibility off the government’s shoulders. (Bloomberg)

The bailout of Fannie Mae and Freddie Mac has now cost the government $100 billion. (CNN)

Republican Senators Richard Lugar and George Voinovich join Democrats to knock down an amendment to expand the rights of gun owners. (NYT)