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Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers - leading proponents of a stimulus bill - predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn't quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983. (See 10 ways your job will change...

Author: /time Magazine | Title: Obama's Stimulus Plan: Failing by Its Own Measure | 7/14/2009 | See Source »

...CSAT holds a singularly sacred place in Korean culture. On the day of the national exam, many businesses and the stock market open late in order to keep the roads clear for students driving to their testing locations. Airplanes are prohibited from landing or taking off from Korean airports during the listening section. Korea’s temples and churches are filled with praying parents...

Author: By Anita J Joseph | Title: Testing Up | 7/14/2009 | See Source »

Sometime in the near future, then, the U.S. will have to start living within its means - or at least a lot closer to them than it currently does. To keep this new American frugality from battering the global economy even more than it's been battered, somebody has to pick up the resulting slack in demand. Europe and Japan have been hit harder by the downturn than the U.S. has, and they have aging, slow-growing populations unlikely to ignite consumer booms. That leaves the BICs as pretty much the only remaining candidates. These economies are still too small...

Author: /time Magazine | Title: Let Someone Else Buy | 7/13/2009 | See Source »

...Sept. 30, 2008, just as the [economic] crisis was accelerating," the authors noted. "Also, there is an expected time delay between the moment someone loses her job or home and the moment she enters the shelter system." While the agency plans to begin issuing quarterly "pulse reports" to keep pace with the issue, counting people who have fallen through society's cracks is no easy task. The Obama Administration's $787 billion economic-stimulus package allots $1.2 billion for combating homelessness, but without a full understanding of the problem's scope - and with the unemployment rate creeping toward double digits...

Author: /time Magazine | Title: The State of Homelessness in the U.S. | 7/13/2009 | See Source »

...once the Sandinistas had Arguello in their clutches, the game changed for him. First Lady Rosario Murillo, who appointed herself head of his mayoral campaign, assigned minders to keep the fighter on a tight leash to minimize his wonderfully outrageous and innocent gaffes. (Arguello, in discussing his 14 years spent living in the U.S., remembered Thanksgiving as a commemoration of the day when the British declared a one-day truce during their invasion of New Orleans to sit down for a turkey dinner...

Author: /time Magazine | Title: How Politics Took Down Nicaragua's Boxing Champ | 7/13/2009 | See Source »

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