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...both the budget proposed by the White House in February and projections issued by the Congressional Budget Office (CBO) in March, Social Security benefits ($659 billion, according to the CBO) will exceed payroll taxes ($653 billion) in fiscal 2009 for the first time since 1984. Payroll-tax receipts generally hold up much better in recessions than do income taxes, but job losses have been so severe that the CBO expects them to decline slightly from 2008, while benefits rise almost 9% because of cost-of-living adjustments and the beginnings of the baby-boomer retirement wave. (See five reasons...

Author: /time Magazine | Title: Social Security's Surplus Disappearing Fast | 4/9/2009 | See Source »

...wanted to launch into the dip so that by the time advertising improves, MotorMouths will be sitting pretty," he told me a few days ago. He said he was optimistic, based on recent figures that show auto ads are on the upswing. "If our current growth trends hold and the ad trends hold, MotorMouths could be a $250,000-revenue company within 18 months...

Author: /time Magazine | Title: The New Internet Start-Up Boom: Get Rich Slow | 4/9/2009 | See Source »

...thought of this recently when I got hold of Nintendo's new DSi ($169.99) handheld video-game player. My feeling of letdown was every bit as acute - perhaps because my anticipation had been unrealistically high. (See the top 10 video games...

Author: /time Magazine | Title: Nintendo Disappoints with the New DSi | 4/9/2009 | See Source »

...wait. Hold the presses. One of those political stunts might actually have merit. “Merit” as in public policy merit, but merit also because it presents a political opportunity for Obama. There’s an idea being circulated by Senate Minority Leader Mitch McConnell, former House Speaker Newt Gingrich, and George W. Bush speechwriter David Frum, and even gracing the airwaves of “El Rushbo,” that could be the first truly bipartisan achievement of the Obama era: a payroll-tax holiday. Some proponents suggest a year or two (more like...

Author: By Clay A. Dumas | Title: Diamond in the Rush | 4/9/2009 | See Source »

Minutes later, he ended the event as he had almost every other appearance, with a question that didn't need an answer: "All right?" Which meant that he had more to do and little time, and he couldn't afford to let anything hold him back...

Author: /time Magazine | Title: President Obama: At Home Abroad | 4/8/2009 | See Source »

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