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...expressed the need for a speedy response by the Obama administration if the economic situation is to be rescued. “The longer the Obama administration dithers over a decisiveand comprehensive fix to the banking system, the greater the risks,” Rogoff wrote. According to Barro, America has been plagued by only two depressions since 1870—the post-World War I depression and the Great Depression. The Harvard economist’s current piece came in the midst of an economic downturn that has seen the stock market fall to its lowest levels since...

Author: By Marc G. Steinberg, CONTRIBUTING WRITER | Title: Professor Projects Likelihood of Economic Depression | 3/6/2009 | See Source »

...confirmed, Fugate will take over a 4,400-worker agency charged with the daunting task of rescuing America from man-made and natural disasters, as well as nuclear attack. Luckily, Fugate, 49, has plenty of emergency experience, having served as the go-to guy when Hurricanes Charley, Frances, Jeanne and Ivan battered Florida's coast in 2004, followed by Hurricanes Dennis, Katrina, Rita and Wilma in 2005 - not to mention the various droughts, tornadoes, wildfires and tropical storms that have visited the state during his nearly 15-year tenure as assistant director and then director of the Florida Division...

Author: /time Magazine | Title: FEMA Chief W. Craig Fugate | 3/6/2009 | See Source »

...York has come to see incarceration as a major source of employment. The corrections department is the state's largest agency, employing more than 31,000 people at 70 institutions; at $40,000 per inmate, the state spends $2.5 billion a year. (See pictures of crime in Middle America...

Author: /time Magazine | Title: Another By-Product of the Recession: Ex-Convicts | 3/6/2009 | See Source »

There is a battle looming in Congress, a contest that will pit many of the most powerful companies in America against each other, potentially reallocate trillions of dollars in spending, and literally impact the future health and well-being of each and every American. No one knows how the conflict will end, just yet, or who the winners and losers will be. But if Thursday's Health Care Reform summit at the White House is any indication, there is no doubt who will be standing at the middle of the scrum: The nation's self-anointed Mediator-in-Chief, President...

Author: /time Magazine | Title: Obama Stands Aside, Slightly, at Health Summit | 3/6/2009 | See Source »

...courage or the money to be treated take the pregnancy to term. Although the fertility rate has fallen considerably in Brazil (from 6.1 children in 1960 to about 2 today), 1 in 3 pregnancies is unwanted, according to Dr. Jefferson Drezett, head of the Hospital Perola Byington, Latin America's largest women's health clinic. Meanwhile, 1 in 7 Brazilian women between the ages of 15 and 19 is a mother, and the average age at which women have their first child has fallen to 21, from 22.4 in 1996, according to a government-funded study. (See pictures of America...

Author: /time Magazine | Title: Nine-Year-Old's Abortion Outrages Brazil's Catholic Church | 3/6/2009 | See Source »

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