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...budgets together. And the boost it has offered will inevitably wane. "Several revenue failures are generating a lengthy chain of acute budget gaps," the report notes. "Because the current state fiscal crisis began in FY 2008, many states are looking at a minimum of four to five years of deep fiscal problems." The headline of one ominous section - "The Foreboding Future" - is really all you need to know. The rest is mostly just recession gore...

Author: /time Magazine | Title: Why States' Budget Woes Won't End Soon | 7/23/2009 | See Source »

...local accent predominates in the elegant dining car, where kangaroo steaks and fine Australian wines are served. But it's not all sitting, drinking and gazing through a window: the Ghan stops twice for half-day tours like exploring sacred Aboriginal sites around Alice Springs or floating down the deep, rocky Katherine Gorge. Keep an eye out for any passing camel herds...

Author: /time Magazine | Title: Scenes of Martian Redness in Australia | 7/23/2009 | See Source »

According to the European Commission, Borisov will inherit a country where mobsters murder with impunity and where fraud and corruption have seeped deep into the political and legal establishment. "Killings linked with organized crime continue, and known criminals are not apprehended," the commission says in its report, released on July 21. (Read "Brussels Beats Up On Bulgaria...

Author: /time Magazine | Title: Could the E.U. Lose Bulgaria to Russia? | 7/22/2009 | See Source »

...historic moment," says Alejandro de Valle, a professor of international law at the University of Cádiz in Spain. "And it meets a deep need." (See pictures of a Galician village...

Author: /time Magazine | Title: Who Owns Gibraltar? Spain Takes a Step Onto the Rock | 7/21/2009 | See Source »

...Rock has urged locals to fly the British and Gibraltar flags as a display of their "inalienable right to self-determination," Searle doesn't expect much in the way of open hostility. "In the end, the meeting came on short notice," he says. "And we're very deep into summer...

Author: /time Magazine | Title: Who Owns Gibraltar? Spain Takes a Step Onto the Rock | 7/21/2009 | See Source »

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