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Most of the recent spending debate has focused on waste - money for new weather satellites, antismoking programs and the like. But the austerity scolds haven't found many outrages; antismoking programs, for example, are a terrific way to hold down the long-term health costs that threaten the Treasury's long-term solvency. There ought to be even more money for mass transit, which reduces energy use, increases the competitiveness of metropolitan areas and helps working families, as well as freight rail, which has even greater environmental and economic advantages. Expanded unemployment benefits and food stamps would be excellent stimulus...

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

...facilities at the University of Louisville to charge portable electronic devices. Students who had lost power watched the Super Bowl Sunday evening in the Rauch Planetarium. The city's Oxmoor Center may have well been the busiest shopping mall in America this weekend: it became a temporary haven for powerless residents seeking a place to warm up while they window shopped. (See pictures of weird and wacky weather...

Author: /time Magazine | Title: Kentucky's Ice Storm Worse in Aftermath | 2/2/2009 | See Source »

...inauguration gave some Americans a reason to revel for a couple of days, but overall, ours remains a sullen nation. If you haven't been laid off, you're probably working harder, maybe for less money--and almost certainly with less job security. People are anxious, depressed--and pissed. Which raises a question: Is there any way to use these emotions to help us pull through this mess...

Author: /time Magazine | Title: Feeling Our Way Out of the Recession | 1/29/2009 | See Source »

...with Larry Summers is a little like being run over by a tank with a Lotus engine and to find the experience educational," says Strobe Talbott, president of the Brookings Institution. Such pastimes may come naturally to the first son of two noted economists who was born in New Haven, Conn., in the shadow of Yale, and grew up in Philadelphia not far from the University of Pennsylvania. Not only did he become, at 28, one of the youngest tenured professors in Harvard history, but a decade later he also went on to win the prestigious John Bates Clark Medal...

Author: /time Magazine | Title: Can Larry Summers Save the Economy? | 1/29/2009 | See Source »

...very smoothly in his absence. "It's painful to hold your tongue," Blagojevich said of the accusations leveled at him in December. But he insisted that he did not commit a criminal act, adding, "I didn't resign then, and I'm not resigning now." He went on, "You haven't been able to show wrongdoing in this trial," said Blagojevich, who called the proceedings an "improper impeachment not based on evidence" and hinted that he could call witnesses who might provide "political embarrassment to members of my party in Washington, D.C." At the end, he defiantly warned...

Author: /time Magazine | Title: Behind the Blagojevich Mess, a State in Disarray | 1/29/2009 | See Source »

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