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Sens. Bob Kerrey (D-Neb.) and Alan Simpson (R-Wyo.) today unveiled a blueprint forfixing the ultimate political sacred cow, Social Security, before the system becomes insolvent in 2030. On the list: raising the retirement age, curbing cost of living increases and allowing workers to invest some of their own payroll taxes inIndividual Retirement Accounts. Kerrey, who co-chairs a federal deficit-cutting commission, failed to get even a majority of that panel to endorse those ideas in December. Today, the senators took their warnings directly to the people: "As a nation, we are consciously damning our children...

Author: /time Magazine | Title: SOCIAL INSECURITY | 5/18/1995 | See Source »

...termed the "crowning jewel" of the Contract with America. Indeed, there was cold sweat at a no-press-allowed retreat in suburban Virginia at week's end, where G.O.P. House members had to go to secure conference rooms to read numbered copies of House budget chief John Kasich's blueprint for slicing an astonishing $1.4 trillion from federal spending over the next seven years. The plan would eliminate the departments of Energy, Commerce and Education, cut cost-of-living increases for federal pensioners, slash foreign aid sharply, and zero out Clinton's pet achievement, the national-service program. Even during...

Author: /time Magazine | Title: THE MOST UNKINDEST CUT | 5/15/1995 | See Source »

...Standard sprang from a series of attention-grabbing memos by Kristol when he was chairman of the Project for the Republican Future, the most famous of which declared, "There is no health-care crisis," and the most prescient of which provided a blueprint for conservatives becoming a governing majority. Last October, Kristol and Podhoretz decided that these papers could also be the blueprint for a new magazine. They arranged to meet Murdoch for dinner in Beverly Hills, California, and suddenly those memos were worth $3 million more than the paper they were printed...

Author: /time Magazine | Title: POLITICAL JUNKIES, REJOICE | 5/15/1995 | See Source »

...argued rather persuasively that such descriptions are now unconscionable, that fiction should be a genteel escape from the encroaching horrors of contemporary life rather than a blueprint for more of the same. The weakness of this case is that it denies narrative art its taproot into the muck and mire of the subconscious; it forgets that private nightmares will fester in solitary confinement instead of finding cathartic company in the public community of stories...

Author: /time Magazine | Title: JAMES ELLROY: THE REAL PULP FICTION | 4/10/1995 | See Source »

...homegrown speculators, he will end up in a nice, cushy job, living the good life. Frank Jerome Columbus, Indiana BARINGS' COLLAPSE CANNOT BE BLAMED solely on derivatives. A system that permits a trader any access, however limited, to the back-office process (settlement, accounting, mark to market) is a blueprint for disaster. No maxim is more fundamental for a financial institution. Mark Martinelli Mahwah, New Jersey WHAT A VIVID LESSON YOUR ARTICLE teaches the world's newly freed people who are struggling to embrace the wonders of free enterprise. Santford W. Martin Atlanta...

Author: /time Magazine | Title: Letters, Apr. 3, 1995 | 4/3/1995 | See Source »

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