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...either higher taxes down the road,or to broken promises. Higher taxes during recessions only exacerbate the pain felt by Americans and slow down recovery. The alternative, running a large deficit, is surely better than remaining in an economic downturn. In many ways, the wasteful, destructive policies of the Bush administration that turned a budget surplus into the largest deficit since World War II have limited Obama’s options. Eventually, he will have to take steps to cut the budget deficit. However, a large deficit is much more harmful to an economy at full employment than...

Author: By Malcolm-wiley T. Floyd | Title: DISSENT: Obama, Hoover, Maynard Keynes? | 2/23/2009 | See Source »

...legend has it, Prescott S. Bush - the father of President George H.W. Bush and grandfather to President George W. Bush - dug up Geronimo's grave in 1918 with the help of several other "Bonesmen," as members of the society are known, and stole the warrior's skull, two bones and some riding gear from his grave at Fort Sill, Okla. The society allegedly put the remains on display at the "The Tomb," an imposing, windowless crypt in New Haven, Conn. that has served as the group's headquarters since its founding...

Author: /time Magazine | Title: The Skull & Bones Society | 2/23/2009 | See Source »

Ahead of her first trip abroad as Secretary of State, Hillary Clinton said she planned to renew U.S. focus on Asia, which she suggested the Bush administration had ignored. In China, that new attitude of engagement has been cautiously welcomed. "For many years the U.S. has been accustomed to delivering its demands to China, and this situation should change," the popular nationalist tabloid Global Times put it on the morning of Clinton's arrival. "The U.S. can no longer control China, moreover make more demands...

Author: /time Magazine | Title: Clinton Takes a Softer Approach to China | 2/21/2009 | See Source »

...After meeting with Yang, Clinton announced a tentative plan to hold regular high-level talks between the U.S. and China. During the Bush administration Treasury Secretary Henry Paulson led a Strategic Economic Dialogue with China, but under the new system, both Treasury Secretary Timothy Geithner and Clinton would lead discussions divided into two tracks: economic and strategic, which includes a broad range of "political and security and global issues," she said. (See 25 people to blame for the global financial crisis...

Author: /time Magazine | Title: Clinton Takes a Softer Approach to China | 2/21/2009 | See Source »

...technology outside the Chinese capital to emphasize the potential for U.S.-China cooperation on greening industry. But experts don't expect any sort of quick agreement between the world's two largest polluters. "This is just the initial step to start talking about the issue," says Yan. "During the Bush administration China and the U.S. cooperated with each other pretty well: they cooperated to ignore climate change. Now they are looking to cooperate to control climate change...

Author: /time Magazine | Title: Clinton Takes a Softer Approach to China | 2/21/2009 | See Source »

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