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...terms of sheer financial disaster, however, it would be hard to match Montreal's 1976 Games. It has taken the city more than 30 years to pay off its extravaganza, the cost of which is still not entirely known, according to Humphreys. The Olympic stadium was a particular disaster; originally budgeted for C$156 million, it ended up costing the city C$2 billion, including numerous fixes to the roof and years of interest payments. The Quebec government had to introduce a special tobacco tax to help pay down its Olympic investment...

Author: /time Magazine | Title: Would Getting the Olympics Be Good or Bad for Chicago? | 9/30/2009 | See Source »

...horses entered into the Spring Carnival. With Kadyrov's official income declaration of an $110,000 salary and a 36 square-meter apartment in Grozny, Kadyrov's penchant for racing has at least raised a few eyebrows in the Russian media. A spokesman for Victoria Races said the cost of sending Mourilyan to the Melbourne Cup alone is in the six figures. Kadyrov's spokesperson, Alvi Karimov, refused to comment on any of Kadyrov's racehorses or on Mourilyan's entry in the Melbourne Cup to TIME on Sept. 21. (Read "Killings of Russia's Human-Rights Activists Continue...

Author: /time Magazine | Title: Will Australia Let Chechnya's President Race His Horses? | 9/29/2009 | See Source »

...bankrupt the nation - than how much Americans would save if the broken system were fixed. From the Sunday news shows to David Letterman's overstuffed chair, Obama has warned about the rocketing increase in health-care insurance - 5.5% last year, according to one study - and promised to bend the cost curve down in the future. He has described changes to the health-care system that could bring down costs for families and long-term government deficits. But his numbers are hypothetical. "If we are able to slow the growth of health-care costs by just one-tenth of 1% each...

Author: /time Magazine | Title: Will Obama's Plan Really Deliver Health Savings? | 9/28/2009 | See Source »

...team has been forced to rely in public on little more than crossed fingers. Meanwhile, in the backrooms of Congress, the assumptions have become fierce points of contention, as health-care providers lobby to keep the bill from shrinking payments in a way that would further stress the system. "Cost is driving the politics of health care more than anything else," says former South Dakota Senator Tom Daschle, who has been advising both Obama and the health-insurance industry. "The problem is that obviously there is a tremendous pushback by the people affected." (See 10 health-care-reform fight...

Author: /time Magazine | Title: Will Obama's Plan Really Deliver Health Savings? | 9/28/2009 | See Source »

...President is left with a difficult task, like a salesman without a shiny car on the lot to show off. He is not exactly telling people to trust him - the theories behind the proposed cost savings are well documented. But he is promising something that cannot be demonstrated just yet, so instead of using the number he originally did, he has now settled on phrases like "It's going to start driving down our costs over the long term...

Author: /time Magazine | Title: Will Obama's Plan Really Deliver Health Savings? | 9/28/2009 | See Source »

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