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...could have painlessly enabled this development of the free market through selling state-owned businesses, loosening regulations on foreign direct investment, and creating a plan to reduce the deficit. India achieved 6.7 percent growth this past fiscal year only on the back of intensive government spending by the previous Congress-led coalition. Public-sector spending provides a short-term stimulus, but a more open economy is necessary for sustainable growth...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

...India’s economy to return to the 9 percent growth it enjoyed in the 2007 and 2008 fiscal years, liberalization must continue. State control over public enterprise and limits to investment still create massive inefficiencies in the economy that prevent India from realizing its full potential. The Congress Government was overwhelmingly reelected on the promise of greater reforms and more growth—and they should have followed through on those promises in the budget. Having failed to do so, they cannot delay the reforms any longer. There are a billion people who should not have to wait...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

That is, if Congress will approve the boost in federal funding for two-year schools, up from just $1.9 billion in 2006. Finding the cash to pay for this proposal hinges on Obama's plan to save money by nixing subsidies to private lenders under the Family Federal Education Loan Program. That legislation faces opposition from student-loan companies and some Republicans, who say the shift to direct lending - in which Uncle Sam acts as your loan officer - will cost thousands of jobs and keep colleges from choosing between competing loan programs eager to underbid one another. (Read about...

Author: /time Magazine | Title: Obama Pushes for More Aid to Community Colleges | 7/15/2009 | See Source »

...deep breath," says a retired official who hears regularly from colleagues still in the agency. The director should have anticipated the reaction of the Democrats and come up with a smart way to communicate that this was "not a big deal," says the former official. Instead, by rushing to Congress, "he set off their alarm bells, and gave them the impression that it was a big deal." After all, says the official, the CIA has "God knows how many programs" that are never activated; and in any case, it was "perfectly sensible to examine all avenues of taking...

Author: /time Magazine | Title: Should Panetta Have Disclosed the CIA Secret Program? | 7/15/2009 | See Source »

When Leon Panetta earlier this year was nominated as director of the CIA, the strongest argument in his favor was his long experience in dealing with Capitol Hill. With Democrats in Congress already sharpening their knives over the CIA's Bush-era policies and practices, the Agency would need protection - and Panetta, a veteran pol with contacts on both sides of the aisle but no real intel background, seemed the best possible shield...

Author: /time Magazine | Title: Should Panetta Have Disclosed the CIA Secret Program? | 7/15/2009 | See Source »

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