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...mortgage credit boom of the 2000s, and economists ranging from Morgan Stanley's Stephen Roach to White House economic czar Larry Summers had been proclaiming for several years that the percentage had to come down. It has thus far stubbornly refused, with consumer spending hitting 70.7% of GDP - close to a record - in the first quarter of this year. American households have lost too much wealth and the job market is too miserable for that to keep up much longer...

Author: /time Magazine | Title: If Consumers Won't Kick-Start the Economy, What Will? | 5/13/2009 | See Source »

...cutbacks published on the FAS Web site amount to $77 million in projected savings—a third of the total $220 million projected annual deficit that FAS administrators hope to close by July 2011. The cuts will be made over the next several months...

Author: By Bonnie J. Kavoussi and Esther I. Yi, CRIMSON STAFF WRITERSS | Title: First Round of Cuts Sweeps Harvard's Largest School | 5/13/2009 | See Source »

...ªte. Bacchanalia. Hell, we’ll even throw in Mather Lather (it’s close enough to formal season). These signature House dances help define their homes...

Author: By Patrick R. Chesnut, D. PATRICK Knoth, and Amy Sun | Title: BALLin! FlyBy’s Formal Reviews Pt. III | 5/13/2009 | See Source »

Nevertheless, the outlandish theme didn’t seem to deter partygoers. From the very beginning of sold-out Beltane to its 1:30 AM final song, the dance floor was tightly packed. Unfortunately, these close quarters inspired minimal Moose promiscuity, as overly bright lighting revealed all. Still, Dunster’s dark tunnels managed to provide a more intimate setting for those who sought a bit of escalation...

Author: By Patrick R. Chesnut, D. PATRICK Knoth, and Amy Sun | Title: BALLin! FlyBy’s Formal Reviews Pt. III | 5/13/2009 | See Source »

...also be expected to challenge the Afghan government when it comes to behavior that undermines the war effort. An official with the Joint Chiefs of Staff expects McChrystal to warn President Hamid Karzai to shut down drug-running operations that fund the Taliban, even when their networks run uncomfortably close to Karzai's government. "[McChrystal] will tell him, 'If you don't clean this up, I will,' " says the official...

Author: /time Magazine | Title: Why the Pentagon Axed Its Afghanistan Warlord | 5/12/2009 | See Source »

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