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...consequences of these problems at the top of the housing market cannot be underestimated. Congress and the Administration have decided to push more of the tax burden to the high end of the income brackets. Whether this is morally or economically defensible won't matter much if the total tax dollars that comes from people making over $250,000 a year is well below budget. Even if the federal government has a perfect track record of holding to its expense plan for the next two years, IRS receipts could be off by tens of billions of dollars. (See pictures...

Author: /time Magazine | Title: During a Recession, Being Rich Loses Its Luster | 5/8/2009 | See Source »

...with wasteful spending, military adventurism and ideological conformity. The GOP took a $155 billion surplus and turned it into a $1.5 trillion debt. George W. Bush and the Republican Congress also allowed federal spending to grow at its fastest clip since the Great Society, while adding a $7 trillion burden to a Medicare program already headed toward bankruptcy...

Author: /time Magazine | Title: How the Republicans Can Come Back | 5/7/2009 | See Source »

...struggles to set up camps with decent food, water and sanitation for tens of thousands of refugees. It will be even more important as the country tries to rebuild the north after nearly 30 years of war. Spending on military pay, pensions and hardware has put a huge burden on Sri Lanka's budget. This year, the government's total tax revenue, after debt servicing, will not be enough to meet its expected spending. And yet the Sri Lankan government has not only refused to accept humanitarian conditions on aid; it has tightened its position on access to civilian refugees...

Author: /time Magazine | Title: Behind Colombo's P.R. Battle Against the Tamil Tigers | 5/6/2009 | See Source »

...making sure that people have a trusted medical source they can turn to for information. One of the reasons we work so hard on community control measures is not that you can stop the flu from spreading eventually, but if you slow it down, it can reduce the burden on your health care system at any one time. And that is something that will be a problem whenever we face a major crisis, and should this virus come back strongly in the fall it would be an issue...

Author: /time Magazine | Title: CDC's Dr. Richard Besser on Swine Flu and Katrina | 5/5/2009 | See Source »

...Laying off Harvard’s workers is unjust because they should not have to bear the heaviest burden of a crisis that they did not create. Layoffs devastate people’s lives and families, contributing to the economic crisis because people without jobs can no longer afford to pay for basic needs. The onus that we face is finding a way to make these unjust cuts unnecessary ones by seeking out other means of meeting Harvard’s new budgetary demands...

Author: By Megan A. Shutzer | Title: Waffles and Workers | 5/5/2009 | See Source »

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