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...Asia, the U.S., U.K., and E.U. face a larger challenge than the failure of financial institutions. The failure of consumer demand will trample the economy well into next year. The only solution to the problem is to given people extremely enticing reasons to spend money. Whether that is done though tax credits or access to inexpensive credit, governments have to move into the difficult role of building a system to create a series of incentives that make spending money more attractive than saving it. That is nearly impossible because it would certainly involve giving people a dollar to save...

Author: /time Magazine | Title: Foreign Layoffs Start to Hurt U.S. Economy | 2/4/2009 | See Source »

...junk in there. The Senate wants to toss as much as $50 billion into loan guarantees for nuclear plants, even though their costs have gone through the roof. And there's talk of further subsidizing home mortgages that are already tax-deductible, as if the Federal Government hasn't done enough to encourage homeownership (and in the process, it can be argued, help lay the foundation for the current crisis). But Obama has called for an earmark-free stimulus, so the legislation shouldn't have too many embarrassing waterslides, Mafia museums or cranberry subsidies. Instead, Congress would funnel hundreds...

Author: /time Magazine | Title: What Is Real Stimulus and What Isn't? | 2/3/2009 | See Source »

...issue stems from the people nominated to the Administration who have worked in the lobbying business but are not technically lobbyists - people, in other words, like Daschle or former Senator George Mitchell, the new Middle East peace envoy who previously served as chairman of a law firm that has done lobbying and legal work for many clients in the region, including the leader of Dubai...

Author: /time Magazine | Title: Daschle's Problems: When Is a Lobbyist Not a Lobbyist? | 2/3/2009 | See Source »

...partners of those investing in heavily regulated industries. He was able to skate through by exploiting an undefined middle ground in the way influence is brokered in Washington. Under the law, there is a distinction between "lobbying contacts," which only lobbyists can do, and "lobbying activities," which can be done by both lobbyists and non-lobbyists...

Author: /time Magazine | Title: Daschle's Problems: When Is a Lobbyist Not a Lobbyist? | 2/3/2009 | See Source »

...That might be easier said than done, especially in cultures where a girl's honor is held as supremely important. Minoui, who has spent considerable time with Nujood, says the girl still risks attacks from male relatives who believe she has sullied the family's reputation. But her fame appears to have protected her from that possibility for now. (Read about what divorce does to kids...

Author: /time Magazine | Title: A 10-Year-Old Divorcée Takes Paris | 2/3/2009 | See Source »

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