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...great forecasting errors of the late 1970s and early '80s--so it's a little scary to predict that they will stay high this time around. But the fact that even the slightest hint of a turnaround in the global economy has sent oil prices skyrocketing from $35 a barrel to more than $70 ought to be a sign that the upward price cycle that started a decade ago isn't played out yet. The crucial element may be that the struggling U.S. no longer drives the global demand cycle--China and India...

Author: /time Magazine | Title: A Fun-Free Recovery | 6/29/2009 | See Source »

...House seat in 1994 with no political experience. Financed his campaign with $100,000 of his own money. Served three terms in Congress, where he repeatedly fought spending increases and pork-barrel spending...

Author: /time Magazine | Title: Straying Governor Mark Sanford | 6/25/2009 | See Source »

...Elected South Carolina's governor in 2002. Considered something of a quirky showman, he once sneaked two piglets into the state capitol to blast pork-barrel spending. The animals relieved themselves on the statehouse carpet, angering lawmakers, but the public approved of the stunt. Holds five-minute meetings with constituents as part of his "Open Door After Four" policy...

Author: /time Magazine | Title: Straying Governor Mark Sanford | 6/25/2009 | See Source »

...chronic conflict with South Carolina's GOP-controlled legislature. When TIME ranked him in 2005 as one of the nation's worst state chief executives, it was because his fiscal hard-liner theatrics (carrying piglets under each arm to the door of the state legislature to protest pork-barrel spending) rarely yielded real results. In too many instances, his conservative principles thwarted the economic development of a poor Southern state that has the country's third-highest unemployment rate and some of its most decrepit schools. Still, South Carolina's deeply conservative voters re-elected him in 2006, and last...

Author: /time Magazine | Title: Sanford's Sex Scandal: Assessing the Damage | 6/25/2009 | See Source »

...Insurers have consolidated," says Linda Blumberg, an economist and health-care expert at the Urban Institute. "Similar things have happened in the provider community. In a lot of areas, insurers will tell you they have no negotiating power with providers and they're held over a barrel. [A public plan] would force insurers and providers to negotiate with each other, which they aren't doing today...

Author: /time Magazine | Title: Will the Public Plan Make or Break Health Reform? | 6/16/2009 | See Source »

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