There is a bill making rounds on Capitol Hill that would provide a tax break for up to $3,500 for pet expenses. Does Fido really deserve a tax deduction? Do we really need to subsidize pet ownership in this country?

The recession has been extra hard on pets as people have abandoned pets at shelters they are no longer able to properly care for them. Pet can be very expensive between food, visits to the vet and increased rent. Those of you who think dog food is expensive should try to feed a horse sometime!

Tractor Supply Company (NASDAQ: TSCO) is on the upswing today after the retailer raised its second-quarter profit estimate. The company now expects to earn $1.48 to $1.50 per share in the second quarter, compared to analysts' consensus forecast for a profit of $1.24 per share. Full-year earnings are now expected to range between $2.78 and $2.92 per share, again outpacing Wall Street's average estimate of $2.64 per share.

Tractor Supply cited tighter control over its marketing expenses for the upwardly revised earnings guidance. However, the retail issue expects consumer spending trends to remain weak through the remainder of 2009, and accordingly trimmed its full-year revenue outlook. The company is now predicting sales of $3.15 billion to $3.25 billion for 2009, down from its earlier guidance of $3.20 billion to $3.30 billion.