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Still, there is the prospect that in the short run, certain Americans would end up losers. Senior citizens, for instance, would not only have to bear cuts in Medicare; those who depend on investments in certificates of deposit might see their incomes drop as interest rates fall. But they could take heart from realizing that they were helping their children and children's children. "People have to make short-term, identifiable sacrifices in exchange for the promise of distant, diffuse and amorphous benefits of a stronger, healthier economy," says Martha Phillips of the Concord Coalition, an antideficit group...

Author: /time Magazine | Title: BEYOND THE PAIN, A REVIVAL OF THE AMERICAN DREAM | 5/22/1995 | See Source »

...married to. The sight disgusted Reed and helped lead him toward being "born again." He apologized to one of his political victims, picked up a phone book, found an evangelical church and started attending. "Since 1983, I haven't been involved with anybody in politics for whom I bear a grudge in my heart,'' Reed told Time. "Which doesn't mean I don't want to win. It means a religious person in politics understands that he's working for goals more universal than taking the next election...

Author: /time Magazine | Title: THE GOSPEL ACCORDING TO RALPH REED | 5/15/1995 | See Source »

...patently wrong. I performed no "service to my country." Rather, I performed a disservice by my passive support. Like others there, and like the Americans who supported the effort, I must accept responsibility and blame for the 58,000 Americans who died, for the many more who will bear scars as long as they live, and for the millions of Vietnamese who suffered and died. I feel an awesome grief and responsibility when I read the names of those few I knew-and the many more I did not know-on that black wall in Washington. Pride for having served...

Author: /time Magazine | Title: Letters, May 15, 1995 | 5/15/1995 | See Source »

...List and A Victim of the Aurora, a reader imagines him rummaging through his barn for old beams and bricks stored years before and never used. Stories, perhaps, told by his grandparents, who were storekeepers in Australia's Macleay River Valley. He sorts the tales, considers which can still bear weight, begins to sketch a plan for A River Town (Doubleday; 324 pages...

Author: /time Magazine | Title: THOMAS KENEALLY : BRICKLAYING | 5/15/1995 | See Source »

...Arco has told the truth," wrote Moroney. "As I told you some time ago, I spent two days alone interviewing Darco in April 1993 and there is no doubt in my mind that he was telling the truth about Carey." Last week Moroney told TIME, "An appropriate investigation would bear [D'Arco] out." Carberry refuses to discuss the report, and Lacey did not return telephone calls...

Author: /time Magazine | Title: A TEAMSTER TEMPEST | 5/15/1995 | See Source »

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