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It may be hard for many Americans to believe, but the United States' checkbook hasn't always been in the red. Aside from periods of war or economic turmoil, the federal budget was actually in surplus for most of the nation's first 200 years. The government incurred considerable debt...

Author: /time Magazine | Title: The U.S. Deficit | 8/25/2009 | See Source »

The federal government's spending oscillated over the subsequent decades, running a surplus in the good years and a deficit in the bad ones, until the early 1980s. President Ronald Reagan's economic and foreign policies - tax cuts combined with substantial increases in Cold War-era defense spending - led to...

Author: /time Magazine | Title: The U.S. Deficit | 8/25/2009 | See Source »

Nonetheless, the new system differs markedly from the old federal policy of not involving the government in abortion services unless issues of rape, incest or the life of the mother are at play. "It does represent a policy shift in favor of the abortion-rights community that it would not...

Author: /time Magazine | Title: How Abortion Could Imperil Health-Care Reform | 8/24/2009 | See Source »

For supporters of abortion, the House bill offers a neat compromise, which they describe as a continuation of the status quo, allowing the federal role in health care to expand without significantly changing the offerings in the private marketplace. "[American consumers] get to choose which plan they want," says Shipp...

Author: /time Magazine | Title: How Abortion Could Imperil Health-Care Reform | 8/24/2009 | See Source »

But for opponents of abortion, including a number of House Democrats, the proposal represents a major reversal of a decades-old policy of keeping the Federal Government out of the abortion business. In a recent letter to members of Congress, the United States Conference of Catholic Bishops called the House...

Author: /time Magazine | Title: How Abortion Could Imperil Health-Care Reform | 8/24/2009 | See Source »

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