Word: deficits
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...could collect a tax on even a fraction of pot sales, it would help rescue cash-strapped communities. Not surprisingly, the idea is getting traction in California, home to the nation's largest supply of domestically grown marijuana (worth an estimated $14 billion a year) and biggest state budget deficit (more than $26 billion...
...July 20, Governor Arnold Schwarzenegger and California legislative leaders reached a tentative budget agreement to plug the state's deficit, but it would involve making sweeping cuts in education and health services as well as taking billions from county governments. Democratic state assemblyman Tom Ammiano has introduced legislation that would let California regulate and tax the sale of marijuana. The state's proposed $50-per-oz. pot tax would bring in about $1.3 billion a year in additional revenue. Ammiano's bill was shelved this session, but he expects to introduce a revised bill early next year. (See TIME...
...prenatal exposure] are so persistent," says Kimberly Gray, an epidemiologist at the National Institute of Environmental Health Studies, which helped fund Perera's study. By following these children through age 11, she says, the Columbia team will be able to look for links to learning disorders and attention-deficit disorder...
...retool the Pentagon for the kind of wars now being fought in Afghanistan and Iraq. Obama praised Gates for his "outspoken leadership" in slaying the F-22 in the face of strong resistance from its backers. "At a time when we're fighting two wars and facing a serious deficit," he said in the Rose Garden, "this would have been an inexcusable waste of money...
...makes China's national wealth vulnerable to the whims of Washington's economic management. One of the reasons Beijing has been urging a gradual reduction in dollar dependence is the massive losses China could suffer if the value of the greenback was to erode as a result of U.S. deficit spending. (Read "China Takes a Small Step Away from the Dollar...