CNN 2009-02-27

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Good morning, happy Thursday to you. From the CNN center in Atlanta, I'm Reggie Aqui. Thanks for checking in. Here is a quick look at what's making news right now.

President Obama laid out an aggressive agenda for the nation on Tuesday night. And then this morning a few minutes ago, we learn some new details about the president's three-trillion dollar budget proposal. A part of the president's budget will be a 634-billion-dollar healthcare reserve fund. As far as education goes, Obama is considering eliminating the Federal Mentoring¹ Program created by the Bush Administration to save nearly 50 million dollars.

Meanwhile, new jobless claims have taken an unexpected jump. 667 thousand Americans filed for first-time unemployment claims last week. That's an increase of 36,000, experts predicted the number to drop. The number of people continuing to claim unemployment on a weekly basis is 5.1 million, which is the highest since the department began keeping records in 1967.

Also some big losses for America's largest automaker, GM, just announced this morning a 9.6-million-dollar net loss and that it burns through more than five billion dollars in cash. This comes on the day that GM's executives return to Washington to ask for even more bailout money. Since receiving the first installment² of the bailout cash, GM has received another 9.4 million in federal assistance and last week asked for an additional 16.6 billion.

Investigators³ are trying to figure out what went wrong during yesterday's deadly plane crash near Amsterdam's main airport. The flight data in cockpit voice recorders have been recovered. They are now being analyzed⁴. That Boeing 737 slammed into a field while trying to land and broke into three pieces. Both pilots are believed to be among the nine people killed.

We are looking at a slight dip in the price of gas. AAA reports national average for a gallon of unleaded regular is now $1.88. That's down a penny from Wednesday. In the last eleven days, the price of gas has dropped nearly eight and a half cents.

So that's a quick look at what's happening right now. Please stick with us here at CNN.com and CNN.com/live for your updates throughout the day.