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Killing Frisbee Golf Biden saw this day coming. In February, the Vice President and Ron Klain, his chief of staff, penned Barack Obama a memo predicting that spending $787 billion on tens of thousands of projects through hundreds of agencies would create opportunities for waste and corruption on an unprecedented scale. Biden suggested that someone with heft needed to be put in charge. During one of their weekly lunches, the President read over the memo, nodded and then handed it back to Biden. Do it, he said. Months later, Biden still laughs about how it happened. "Last memo...
...Japan has seen the depths of its worst postwar recession, economists say things are still far from good - and a "double-dip" recession is an increasingly likely outcome. "It will take several years, not one or two years, before Japan's output gap, or economic slack, disappears," says JPMorgan chief economist Masaaki Kanno. "Deflation and high unemployment will last for a long time. The question is whether the economy will continue to grow for several years without having the double dip." (See pictures of Japan in the 1980s and today...
...while industrial output in the world's second-largest economy jumped 5.9% in May - the third consecutive month-to-month increase - output remains down nearly 30% compared with May, 2008. "Currently, the recovery is boosted by global destocking and the government economic-stimulus measures," says Hiromichi Shirakawa, chief economist at Credit Suisse in Tokyo. "If [those] fade away, it's possible for the [economy] to go down again." (See 10 things to do in Tokyo...
...discrimination but took a softer tone, avoiding direct criticism of Sotomayor and her colleagues. "I found the Kennedy opinion really consciously restrained," says Tom Goldstein, co-chair of the Supreme Court practice at Akin Gump. "He pulled back in order to minimize the way this case focuses on her." Chief Justice John Roberts, who Goldstein says "has a real interest in depoliticizing the court," joined with Kennedy. (Watch TIME's video "Sonia Sotomayor: Bronx (and Baseball) Role Model...
Zelaya vowed to hold the referendum anyway, insisting that Honduras' grinding poverty stemmed from a constitution - written in 1982 at the height of that country's brutal repression of leftists - that rigs the game for the most powerful families and interests. When his military chief, citing the Supreme Court ruling, said last week that the armed forces opposed the vote, Zelaya had him fired. The Congress then began deliberations over whether Zelaya was still mentally fit to govern...