Yesterday's Republican presidential debate offered Rudy Giuliani the opportunity to make up ground, to prove himself deserving of the frontrunner position, and perhaps in so doing to perform a little better than third in the Florida polls. Did he succeed? Not really.

For this episode of On The Record, we speak with Rusty Noletubby, county chair for the Sterling County Democratic Party.

After a miserable Tuesday and a less-than-stellar opening bell yesterday, the stock market made a bit of a rebound from its tumble.

And then there were five. Out of all of yesterday's election news, the biggest would have to be Fred Thompson's dropping out of the race for the Republican nomination.

The Federal Reserve's leadership doesn't want you to worry or anything, but before you woke up today they cut the federal funds rate by .75 percent. Their decision to do so may have had something to do with how yesterday's world markets ended up.

We take time today as we do every year to remember Martin Luther King, Jr. King was a rarity in a time of great social upheaval in the United States, a leader behind whom legions would fall in line in pursuit of the noble goals of equality, and by extension, peace.

Did you feel a lightness come over your heart yesterday? It may have been because January 20 marked the beginning of George Bush's last year in office as president.

For this episode of On The Record, we speak with Edmund Cogburn, SDEC Parliamentarian for the Texas Democratic Party.

After appearing to finish behind Ron Pal in Nevada, McCain balanced out his day by beating Huckabee and Thompson in South Carolina and winning the Republican primary there. Meanwhile, in Democratic Party news, even though Hillary Clinton clearly won Nevada by votes, the Obama campaign is arguing that they actually won because they ended up with one more delegate pledge than Clinton. You can get a current delegate tally here.

Insert gambling reference here. Hillary Clinton and Mitt Romney are the projected winners of the Nevada caucuses in Nevada. You can catch the returns from both the Democratic and GOP caucuses here as they are tallied.