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...spending your way out of crisis has its limitations. Next year, Japan's public debt is expected to rise to 197% of GDP, according to the Organization for Economic Cooperation and Development (OECD). That would make Japan's debt ratio the highest among OECD nations and nearly twice that of the U.S. "If they spend money without reform, they can get growth," says Curtis. "But they will just increase the deficit and it won't be sustainable...
...progress has been slow for a number of reasons. There has been obstruction from France, Germany and a few other E.U. members who are not keen on a predominantly Muslim country of 70 million joining their club. There has also been political turmoil in Turkey, where the highest court only last year threw out a case on the closure of the ruling AKP. And there is the intractable dispute over the divided island of Cyprus, with the (Greek) Cypriot government consistently using its membership in the E.U. to block Turkey's advance...
Lone Star Losses Nowhere has the pace been more punishing than inside the Houston Recruiting Battalion. One of every 10 of the Army's recruits last year came from Texas - the highest share of any state - and recruiters in Harris County enlisted 1,104, just 37 shy of first-place Phoenix's Maricopa County. The Houston unit's nearly 300 recruiters are spread among 49 stations across southeast Texas. Since 2005, four members recently back from Iraq or Afghanistan have committed suicide while struggling, as recruiters say, to "put 'em in boots." TIME has obtained a copy of the Army...
...Boreico said. “I almost forgot to register for the Putnam. Luckily I got an email reminder right before the deadline.” For the second year in a row, Tripathy was named a Putnam fellow—an honor given to the five highest scorers on the exam. He received a prize of $2,500. Tripathy could not be reached for comment. “I didn’t prepare for it at all,” Boreico said. “I did a lot of math competitions in high school and stopped preparing...
...important for Obama, who has made stabilizing Afghanistan a foreign policy priority, Tehran's offer lends unlikely international support to his new strategy for the country, unveiled last Friday. With the Taliban making inroads, allied casualties at their highest since the war began, and Al Qaeda still lurking in the remote border areas, the president's plan involves raising troop levels in Afghanistan and sharing the burden of rebuilding. The conference in The Hague - which included delegates from 70 nations - aims to internationalize reconstruction efforts...