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...semiofficial arbiter of such matters, as a "significant decline in economic activity spread across the economy." It's certainly better for economic activity to be increasing rather than decreasing, but the focus on whether the economy is in recession or not can miss a lot. "I don't care about what the dating committee says. I'm concerned about longer-term issues," says Yale economist Robert Shiller. "We are in for an extended period of subnormal economic growth." Mohamed El-Erian, chief executive officer of bond-investing giant Pimco, has popularized a catchier if less informative phrase for what...

Author: /time Magazine | Title: What Comes After the Recession: A Fun Free Recovery | 6/18/2009 | See Source »

...will make good. On June 17, Obama held a signing ceremony in the Oval Office to announce new policies that made a number of minor changes to the benefits offered to the same-sex partners of federal employees and foreign-service officers, including sick leave and long-term-care insurance rights. But the core of the President's message was that work on gay and lesbian equality is just beginning. "We've got more work to do to ensure that government treats all its citizens equally; to fight injustice and intolerance in all its forms; and to bring about that...

Author: /time Magazine | Title: On Agenda, Gays Ask, but Obama's Not Telling | 6/18/2009 | See Source »

Whether or not health-care reform actually passes in the end, this may be remembered as the week when the reality of the challenge such a massive overhaul poses finally dawned on lawmakers. And the reality is this...

Author: /time Magazine | Title: A Health-Care Reality Check Slows Congress | 6/18/2009 | See Source »

...about the dollars. Coming up with a bill that doesn't add to the deficit is turning out to be even harder than members of Congress thought it would be. (Read "Kennedy's Absence Felt on Health-Care Reform...

Author: /time Magazine | Title: A Health-Care Reality Check Slows Congress | 6/18/2009 | See Source »

...being worked on by the Health, Education, Labor and Pensions (HELP) Committee and the one by the Finance Committee - are not only going to add significantly to the deficit, but also that they'll do so without delivering what lawmakers have promised in terms of bringing down health-care costs and covering the uninsured...

Author: /time Magazine | Title: A Health-Care Reality Check Slows Congress | 6/18/2009 | See Source »

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