Hilary Clinton talks tough when it comes to terrorists and tax-cuts. She’s a real force when you cross her daughter, too.
When MSNBC (GE) commentator David Shuster suggested on Friday that the Clinton campaign had "pimped out" — a term that typically refers to prostitution —the 27-year old former first daughter Chelsea by having her make phone calls to Democratic superdelegates, Mother Clinton wasted no time firing back. After the Clinton Campaign suggested they might boycott a Barack Obama debate scheduled to air on the network on February 26, Shuster admitted his comments were "inappropriate." On Saturday the commentator apologized on air, "to the Clinton family, the Clinton campaign, and all of you who were justifiably offended." But it was too late for Shuster and the correspondent was suspended indefinitely.
Pimp-gate wasn't the only Clinton campaign drama this past weekend. Last night Patti Solis Doyle relinquished her title as campaign manager to Maggie Williams. The announcement follows a disappointing weekend for Hillary who lost state nominating contests in Washington, Nebraska, Louisiana, Maine and the U.S. Virgin Islands.
If you have recently found yourself between jobs, keeping your finances in order is just as important as keeping your resume up to date. Financial experts recommend that you first eliminate any outstanding credit card debt. "You just have to get the intestinal fortitude to pay those things off," says Frank Armstrong, President and founder of Investor Solutions in Miami, Florida. "If you can't pay down to a zero balance, you need to cut them into little tiny pieces and throw them away." Trade your credit card for a debit card and only use that for your cash needs.
After ditching your debt, do not give yourself the option to spend savings by breaking into your 401(k). "I'd dip into my 401k just before I'd let my first born child starve," says Armstrong. Tapping into an ordinary IRA early is subject to ordinary income tax plus a 10% penalty. However with a 401(k) there is a 20% withholding tax when the money is dispersed, and then income tax and a 10% penalty are deducted.
To prepare for a potential stint of unemployment Armstrong suggests opening an account with a personal investment management company like Vanguard. "It's better to have a reasonably low risk brokerage account with enough liquid assets to get you through three to six months," says Armstrong. When putting aside money for your emergency fund Armstrong says the key is to keep your new budget in perspective. "No matter what anyone makes, somewhere in the world there is a guy who makes 80% of that and lives a meaningful life,” says Armstrong. “If he can do it why can't you put 20% a way and do that too?"