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...better reason for the lack of attention paid to the disappearance of Social Security's surplus may be that it's starting to seem like small change. My earlier worry about 2017 was that the country was going to have to find a way - through raising taxes or cutting spending - to make up for the $100 billion or so that Social Security had been handing over to the rest of the Federal Government annually. Now, with a budget deficit projected at $1.8 trillion this year, we've got far bigger fiscal issues to worry about...
...knew that would be the result, I would've thought about the taxes earlier.' DAVID PATERSON, New York governor, on the conservative icon's threat to skip town...
Amidst the worst financial crisis in a generation, the chief executive of one of the world’s largest banks will address Harvard Business School graduates. In a press release issued earlier this week, school officials announced that James L. Dimon—chairman and CEO of JPMorgan Chase—will return to his alma mater to speak at Class Day on June 3. Dimon was heralded last month by the Financial Times as one of the 50 people who will lead the way out of the crisis. The announcement generated excitement among students, who said that they...
...Instant Criminal Background Check System, which the industry uses as a proxy for overall firearms sales, are also revealing. From November 2008 through March 2009, FBI background checks, which are required every time a federally licensed gun dealer makes a sale, rose 29.3% over the same period a year earlier. In November alone, checks jumped 42%, to 1,529,635, the largest monthly total in the decade that the system has been in place. "Consumer demand is unprecedented," says Larry Keane, general counsel for the National Shooting Sports Foundation, a trade association for the firearms and ammunition industry...
...fabled American Colony Hotel in Jerusalem, Tony Blair, ex-British Prime Minister and current mediator for the Quartet - the United States, Russia, the European Union and the United Nations - in the Israeli-Palestinian conflict, spoke candidly with TIME's Jerusalem bureau chief Tim McGirk about the obstacles to peace. Earlier, Blair had met with Benjamin Netanyahu, the hawkish new Israeli premier, who says he will keep talking peace but left open the question of whether Israel would accept a Palestinian state. "One thing I learned," says Blair, "is that you simply just don't give up." (See pictures of Tony...