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...these steps, and the Obama Administration appears to be attacking the staggering cost of higher ed from the back end - that is, if we can't fix how much college costs, at least we can try to fix how you pay that cost back. "There's clearly a lot of work to do in bringing down the cost of college," says Edie Irons, spokesperson for the Project on Student Debt. "But even if you froze college tuition at every institution tomorrow, you'd still have this problem where people are borrowing incredible amounts of money to take important jobs that...

Author: /time Magazine | Title: New College-Loan Plan: Pay Back By What You Earn | 7/2/2009 | See Source »

...dawn of the 21st century, America is, if nothing else, the land of the bargain. Big-box stores like Wal-Mart dominate the retail landscape, peddling middling goods at rock-bottom prices. Higher-end stores put their merchandise on sale like clockwork; if you wait a little longer, you can get it even cheaper at a factory outlet. Afterward, you can fill up on all-you-can-eat shrimp at Red Lobster for $15 - truly, the American Dream...

Author: /time Magazine | Title: What Cheap Stuff Really Costs Us | 7/2/2009 | See Source »

...seen in conservative ballot measures such as Proposition 13 (property taxes), Proposition 187 (illegal immigration) and Proposition 8 (gay marriage). Conservative Anglos, a minority of the state's population as a whole, are vocal and continue to exert power beyond their census numbers because they vote in relatively higher percentages, and because GOP votes are required to pass a budget or enact new taxes under the state's unusual two- thirds majority requirements...

Author: /time Magazine | Title: How California's Fiscal Woes Began: A Crisis 30 Years in the Making | 7/1/2009 | See Source »

...ever since, public doubts about the stimulus have, if anything, deepened. The economy deteriorated faster than economists expected, with unemployment now predicted to exceed 10% next year, higher than the White House had projected in January. While that might under normal circumstances make any stimulus more popular, voters have been spooked by the enormous deficits Washington is running up as it tries to right the economy. In 2009 alone, the U.S. government will take on debt equal to about 13% of its economic output, and by 2016 the U.S. debt is projected to top 70% of GDP, twice...

Author: /time Magazine | Title: What Happened to the Stimulus? | 7/1/2009 | See Source »

...trading on the New York Stock Exchange. Back in Hong Kong, Chinese thenardite producer Lumena Resources (thenardite is a key ingredient in powder detergents, textiles, glass, chemical feedstock and pharmaceuticals) rang up 19% in gains on June 17. On June 22, the IPO of China Metal Recycling closed 22% higher. (See pictures of China's infrastructure boom...

Author: /time Magazine | Title: Is a China Stock Bubble Forming? | 7/1/2009 | See Source »

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