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...conversation with Gergen, Paulson said that in the months preceding the economic crisis that dominated 2007, the most important action he took was to work on building relationships with the President and with Congress. He also stressed the importance of fast decision making with incomplete information once the actual financial downturn...

Author: By Monika L. S. Robbins, CONTRIBUTING WRITER | Title: Paulson Discusses Financial Crisis | 2/23/2010 | See Source »

...most common laments one hears from voters - and there are a lot of them these days - is that members of Congress aren't subject to term limits. There's a perception, accurate in some cases, that longevity in office leads to corruption and that greater turnover would somehow fix Washington's gridlock...

Author: /time Magazine | Title: Term Limits: No Magic Pill for Washington's Woes | 2/23/2010 | See Source »

...King Louis XVI. When American democracy was being formed, many of its founders, including Benjamin Franklin, James Madison, John Adams and Thomas Jefferson, supported congressional term limits, "to prevent every danger which might arise to American freedom by continuing too long in office the members of the Continental Congress," as Jefferson wrote. (See why Washington is tied up in knots...

Author: /time Magazine | Title: Term Limits: No Magic Pill for Washington's Woes | 2/23/2010 | See Source »

...recommendations weren't, ultimately, included in the Constitution because the founding fathers saw a tradition of rotation forming. George Washington set the precedent of two terms in the White House and those in Congress so abhorred the idea of political power that a natural changing of the guard occurred until the turn of the 20th century. Representatives couldn't wait to dispose of their duties and return home, as it was commonly held that "contact with the affairs of state is one of the most corrupting of the influences to which men are exposed," wrote author James Fenimore Cooper...

Author: /time Magazine | Title: Term Limits: No Magic Pill for Washington's Woes | 2/23/2010 | See Source »

President Franklin Delano Roosevelt's death shortly after being re-elected to a fourth term prompted Congress to quickly pass a constitutional amendment limiting the Commander in Chief to two terms. The amendment was ratified in 1951, but moves to limit congressional terms 40 years later were struck down in 1995 by the Supreme Court...

Author: /time Magazine | Title: Term Limits: No Magic Pill for Washington's Woes | 2/23/2010 | See Source »

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