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...minute blitz by supporters of the F-22 fighter to keep building more of the $350 million planes, the Senate voted 58 to 40 on Tuesday to halt its production. The action, backed by a veto threat from President Obama, is a major victory for Defense Secretary Robert Gates' effort to 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...

Author: /time Magazine | Title: Defense Secretary Gates Downs the F-22 | 7/22/2009 | See Source »

...monthlong break would give opponents ample opportunity to pounce, while lawmakers are at home in their districts. "Right now, we're losing the messaging war," says Senator Chris Dodd, who, in the absence of ailing chairman Ted Kennedy, led the Senate Health, Education, Labor and Pensions Committee's successful effort to produce a bill. "We've got to regain our footing and make the case that the status quo is unacceptable." (See the top 10 medical breakthroughs...

Author: /time Magazine | Title: Obama's Health-Care Push: Congress Says It's About Time | 7/22/2009 | See Source »

Americans always knew the Troubled Asset Relief Program (TARP) was going to be expensive. But the program's special inspector general, Neil Barofsky, thinks the U.S. government has bitten off more than it bargained for: on July 20, his office released a report estimating the $700 billion effort to shore up the nation's wobbly banking system could end up costing taxpayers as much as $23.7 trillion, due to estimates for programs offered by the FDIC, federal money for Fannie Mae, Freddie Mac and other institutions on top of $7.4 trillion in TARP and other Treasury aid. A spokesperson...

Author: /time Magazine | Title: TARP Watchdog Neil Barofsky | 7/21/2009 | See Source »

...seems, could the governors' rebellion have come at a worse time for President Obama's health-care-reform effort, which is being hit from every side by growing doubts. Douglas Elmendorf, head of the Congressional Budget Office, has testified that the legislation thus far has too little cost containment. Senators of both parties are trying to put the brakes on the President's drive to have bills passed by the House and Senate by the August recess. Republicans are calling it a dangerous "experiment." And even the Mayo Clinic - often cited by Obama as the model of what an efficient...

Author: /time Magazine | Title: Medicaid and the States: Health-Care Reform's Next Hurdle | 7/21/2009 | See Source »

...initial phase of President Barack Obama's effort to jump-start the Israeli-Palestinian peace process called for confidence-building. While the results haven't exactly inspired confidence in its prospects, Obama may have no choice but to move forward. The President's Middle East envoy, Senator George Mitchell, is scheduled to visit the region during the week of July 20, amid reports that Washington is moving toward outlining a new negotiating process, possibly with fixed timetables for resolving issues. But the palpable distrust each side has shown of the other during Obama's initial mediation effort casts a pall...

Author: /time Magazine | Title: Obama's Next Step in His Mideast Peace Plan | 7/20/2009 | See Source »

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