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...defining question of the campaign - and of late 20th century American politics. It was also pretty easy to answer. The "misery index," a then popular measure that added the unemployment rate to the inflation rate, had skyrocketed during Carter's tenure. Taxes had risen sharply. There were other issues on voters' minds, like the Iranian hostage crisis and those dang cardigans Carter used to wear. But the economy was crucial to Reagan's victory. After taking office, he responded by ushering in a new era in economic policy - cutting tax rates, slashing regulation and tirelessly preaching the gospel that individual...

Author: /time Magazine | Title: The New President's Economy Problem | 5/15/2008 | See Source »

...between high and low earners has been growing since the late 1970s, and until recently, economists attributed virtually all of it to technological and demographic changes that increased the premium paid to those with advanced skills and education. If that were true, the only answer would lie along the arduous path of improving the education and skill levels of American workers. And you certainly wouldn't want to discourage people from getting an education by heavily taxing the rewards...

Author: /time Magazine | Title: The New President's Economy Problem | 5/15/2008 | See Source »

...deficit quandary is one for which none of the candidates have an entirely convincing answer - at least not yet. Unlike the current President, though, the winner in November may be forced to arrive at one once in office...

Author: /time Magazine | Title: The New President's Economy Problem | 5/15/2008 | See Source »

...Their answer is a kind of fishy virtual reality, bringing the Indian Ocean indoors to a hatchery at the hamlet of Arno Bay, 120 km north of Port Lincoln, South Australia. In a breakthrough announced in March, Clean Seas claimed a world first by collecting fertilized eggs from breeding stock - about 20 tuna weighing 160 kg apiece and kept in a giant indoor tank. Sleek, dark shapes with a line of tiny bright-yellow fins down their back, they circle endlessly, apparently convinced they have traveled far to the north, to their spawning grounds. It may be fall outside, with...

Author: /time Magazine | Title: Sashimi on Demand? | 5/15/2008 | See Source »

...with a long white beard responds. "I have heard from the Taliban commander that you British soldiers have come to kill civilians." Before Shervington can answer, a rocket-propelled grenade whistles over the gathering. He dives to protect Raziq, while the soldiers take cover. The villagers, unperturbed, gather around the flour-laden truck to get their rations; then they disappear. The RPG had come from a compound further south, aimed not at the shura, but at the British forces waiting on the road. Unable to spot the insurgents, the soldiers are prevented from returning fire...

Author: /time Magazine | Title: Treading Water in Opium Country | 5/14/2008 | See Source »

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