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...neck, the pound plunged 2% against the dollar in a few hours. Britain clings to a nostalgic sense of its place in the world as a top-tier global economic power. It's still the world's sixth largest economy, but other numbers are not so flattering. Britain's budget deficit - ?178 billion, according to the Treasury - is the largest as a proportion of GDP among G-7 nations. Unemployment stands at 2.46 million, a rate of 7.8%. That's not as bad as some pundits predicted, but the ranks of the long-term unemployed have swelled to levels...

Author: /time Magazine | Title: Deep Funk: Why Britain is Feeling Bleak | 3/29/2010 | See Source »

...President must go even further. Our schools still offer teachers lifetime job protection, predominantly lockstep pay systems and seniority rules that reward longevity, not excellence. Our budget hole in New York is so big that we'll probably have to lay off teachers later this year. You know who will be the first to go? Thousands of energetic new teachers--simply because they were the last people hired. Sure, experience matters. But so do skill and energy. We must be able to make staffing decisions based on performance, not just time served. This President has shown an unprecedented willingness...

Author: /time Magazine | Title: Does Obama's Education Plan Make the Grade? | 3/29/2010 | See Source »

...budgeting process begins for the next academic year, Wu said that the recent decrease in the FAS budget deficit has relieved some of the tension...

Author: By Noah S. Rayman and Elyssa A. L. Spitzer, CRIMSON STAFF WRITERS | Title: Stress of 2009 Staff Cuts Lingers in FAS | 3/29/2010 | See Source »

Census officials say they're simply adhering to race-category standards laid out for all federal agencies in 1997 by the White House Office of Management and Budget, criteria they confirm will be re-evaluated before the 2020 census. (The Census that year will also be unlikely to retain Negro as a designation for African Americans; it is still on the 2010 form, a fact that has led to repeated apologies from the Census chief.) And Janet Murguia, president of the National Council of La Raza, a Hispanic advocacy group in Washington, D.C., says the Hispanic race question...

Author: /time Magazine | Title: Still Black or White: Why the Census Misreads Hispanics | 3/29/2010 | See Source »

...more to lose by not winning. In fact, on one of the key subjects, taxes, both may have given a boost to the eventual Democratic candidate, given the fact that a fifth of Florida's electorate is independent. In order to plug a $2.2 billion hole in Florida's budget, Crist stumped not for new taxes but for new user fees - for example, higher costs for driver's licenses and annual motor-vehicle-tag renewals, not a popular proposition during a recession in a state where public transportation is thin and almost everyone drives. (Granted, the car-fee hike theoretically...

Author: /time Magazine | Title: Crist vs. Rubio: Florida GOP Heavies Face Off | 3/29/2010 | See Source »

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