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...prove they're serious about getting their countries' finances in order. In late January, S&P warned that it could downgrade Japan's sovereign rating if the new administration of Prime Minister Yukio Hatoyama doesn't rein in the deficit. In his January State of the Union address, President Barack Obama pledged to freeze discretionary fiscal spending for three years starting in 2011. "Like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don't," Obama said. (See pictures of retailers which have gone out of business...

Author: /time Magazine | Title: Weighed Down | 3/1/2010 | See Source »

...grew up in, wrote "Poland," crossed it out and then wrote "Austria." These are countries that don't even border each other. I come from stupid people. You know how I know that? Because I had to look up whether those countries border each other. (See pictures of Barack Obama's family tree...

Author: /time Magazine | Title: Reluctantly, Joel Stein Discovers His Roots | 3/1/2010 | See Source »

President Barack Obama announced $8.3 billion in federal loan guarantees for the construction of two nuclear reactors at a plant in Georgia. It is the first new nuclear project to be green-lighted in the U.S. since the 1980s. Once online, sometime in 2017, the reactors will generate power for 1.4 million people. While most hailed the move--the White House said the reactors will prevent the emission of 16 million tons of carbon dioxide each year--critics say safety standards for storing the plant's radioactive waste need to be improved...

Author: /time Magazine | Title: The World | 3/1/2010 | See Source »

President Barack Obama has appointed two Harvard alumni as members of the bipartisan National Commission on Fiscal Responsibility and Reform to devise ways to balance the federal budget...

Author: By Alyssa A. Botelho, CRIMSON STAFF WRITER | Title: Harvard Alumni Join National Fiscal Committee | 3/1/2010 | See Source »

While working in the White House, Freeman—who had planned to serve roughly a year in President Barack Obama’s administration—spearheaded a proposal to create national fuel efficiency standards and reduce emissions...

Author: By Zoe A.Y. Weinberg, CRIMSON STAFF WRITER | Title: Energy Expert Returns to HLS | 2/26/2010 | See Source »

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