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Dates: during 2010-2019
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What is the endgame here? Greece has big debts relative to the size of its $357 billion economy (about 120% of GDP). It no longer has the option of eating into those debts by inflating its currency. In fact, it has no power to use monetary policy to ease its pain, as the Federal Reserve has been doing in a big way in the U.S. The only options for Greece are to 1) scrimp and save to convince creditors that it can keep paying them off, 2) convince its fellow euro-zone countries--or maybe the International Monetary Fund...

Author: /time Magazine | Title: Echoes of Greece's Debt Crisis | 2/22/2010 | See Source »

...Obama Administration has a plan: take the 5,000 worst schools in the U.S. and give them more than $4 billion over three years to get a lot better - fast. It's the emphasis on speed that makes this endeavor something new. The government has thrown big money at education for decades, with very little to show for it. Even under NCLB, most of the failing schools that were forced to make changes did the bare minimum required by federal mandates...

Author: /time Magazine | Title: A Quick Fix for America's Worst Schools | 2/22/2010 | See Source »

...Lincoln at a moment of supreme peril to American democracy, "and we must rise with the occasion." Notice: he said we must rise. But that requires, if nothing else, a sense of shared values. Few paid much attention last December as Southern Republicans in the Senate blocked a $14 billion federal rescue of GM and Chrysler. That lawmakers representing states with nonunion foreign-auto plants should blame organized labor for not slashing worker benefits to levels offered by Nissan hardly came as a shock...

Author: /time Magazine | Title: Era of No Consensus | 2/22/2010 | See Source »

...last report, unemployment stood at 9.7 percent, and it looks to remain at that level for a long time. The recently released budget outlines a $100 billion jobs program and a $30 billion program to help community banks make loans, but the administration itself projects that these will only put a small dent in unemployment, which will remain at levels over or near 8 percent through...

Author: By Ravi N. Mulani | Title: Spending Now for a Better Future | 2/22/2010 | See Source »

...with almost every state running deficits and with a few even approaching bankruptcy, states would be forced to make difficult decisions if this aid were to run out. In addition to this, therefore, the government must build on the efforts of the stimulus and spend far more than $100 billion on infrastructure, clean-energy and other important projects that will create jobs. While tax cuts are often merely saved or used to pay down personal debt, spending on projects that have to create jobs comes with a guarantee of expanding employment...

Author: By Ravi N. Mulani | Title: Spending Now for a Better Future | 2/22/2010 | See Source »

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