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Congress is mulling plans to extend the $8,000 first-time home buyers' tax credit to April 30 (which covers home purchases closed by June 30) and to allow individuals with incomes of up to $125,000 (or $250,000 for couples) to apply for the credit, up from the previous threshold of $75,000. Also, a proposal is on the table to offer a new credit - $6,500 - to move-up buyers who have lived in their home for at least five years. The Senate is near a vote on its version, which includes an extension and expansion...

Author: /time Magazine | Title: Should the Home Buyers' Tax Credit Be Extended? | 11/4/2009 | See Source »

...plans, Marchionne said that Chrysler's financial position is now stronger, following its trip through bankruptcy and a dramatic restructuring that cut more than 18,000 salaried jobs. One benefit: Chrysler's cash reserves have increased from $4 billion to $5.7 billion since the company emerged from bankruptcy in June. "Chrysler was actually profitable on an operating basis in September," Marchionne said as he opened the meeting outlining Chrysler's 2010 to 2014 business plan...

Author: /time Magazine | Title: Amid Tumbling Sales, Chrysler Looks to Future | 11/4/2009 | See Source »

...President in March announced a "comprehensive new strategy" for waging war in Afghanistan and promptly dispatched a fresh general to implement it in June. But having received General Stanley McChrystal's grim assessment of the situation on the ground and his request for reinforcements, Obama has spent the past two months - as U.S. deaths in Afghanistan have reached historic highs - weighing the wisdom of both decisions. In Washington, backers of McChrystal and his manpower-intensive counterinsurgency strategy say delaying the dispatch of reinforcements endangers the mission, but those who are more skeptical of the military's ability to turn...

Author: /time Magazine | Title: Is Obama's Delay on Troops Hurting U.S. Prospects in Afghanistan? | 11/4/2009 | See Source »

...Born June 15, 1954 in Philadelphia, the oldest of five children in a Democratic Irish Catholic family. His mother worked at Mount Vernon, the historic home of George Washington; his father was an Air Force officer...

Author: /time Magazine | Title: Virginia Governor-Elect Bob McDonnell | 11/4/2009 | See Source »

...displays of defiance do not appear to be nearly as large as the massive demonstrations that were staged in June to protest the disputed re-election of President Mahmoud Ahmadinejad. Nor are they enough to pose a direct challenge to the government, which has overwhelming control over the streets and national security. But they are having an effect far beyond the skirmishes in Tehran, pushing the Iranian government into a harder and harder line against its internal foes and into confrontation with the West. (Read about how Tehran is bracing for a new round of political protests...

Author: /time Magazine | Title: In Iran, New Protests, but an Ever Harder Line | 11/4/2009 | See Source »

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