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...know, Paul, Reagan proved deficits don't matter," Vice President Dick Cheney famously told George W. Bush's first Treasury Secretary, Paul O'Neill. Cheney, who rarely allows facts to get in the way of a good ideology, was retailing a myth. Ronald Reagan is remembered for the massive tax cuts passed during his first year in office. But since deficits do matter - and since Reagan's so-called supply-side cuts blasted an enormous hole in the budget - the President had to come back in 1982 with the largest peacetime tax increase in American history: the Tax Equity...

Author: /time Magazine | Title: Health Care: Do the Right Thing on Taxes | 10/29/2009 | See Source »

...Though midterm elections tend to be referendums about the party in power, Republicans know that if they have any shot at regaining the majority, they have to give voters a reason to pull the lever for them. Most observers who track congressional races predict Democratic losses of 20 seats or more, and the latest generic matchups by Rasmussen polls show Republicans leading Democrats 42% to 38%. Still, Democrats control the House by a margin of 40 seats, so taking back the House would require a pretty major wave of discontent over the next year. And while polls show that Americans...

Author: /time Magazine | Title: How the GOP Hopes to Overcome 'Party of No' | 10/29/2009 | See Source »

...Lorca's relatives previously objected to the exhumation of his remains. "It's never mattered to us to know the exact location. We just wanted to have the place where he lies protected," says Laura García Lorca. "That's important for the memory of all the victims. Because of who he is, we think of him as a sort of guardian, ensuring the remains of all the others won't be disturbed or forgotten either." Earlier this month, the town of Alfácar granted that wish by declaring the site a cemetery. (Read "At Last, Spain Faces...

Author: /time Magazine | Title: Exhuming Lorca's Remains — and Franco's Ghosts | 10/29/2009 | See Source »

...standard zones, towns set their own local times. Life was slow; it didn't really matter if 12:07 in one town was 12:15 in the next hamlet over. But with the advent of railroads and their accompanying train schedules in the 19th century, people suddenly needed to know the exact time so they didn't miss their trains (and conductors needed to make sure that trains operating on the same track didn't crash). In 1883, the U.S. and Canada adopted a standard time system. The following year, delegates from 22 nations met in Washington to coordinate times...

Author: /time Magazine | Title: How Do Countries Determine Their Time Zones? | 10/29/2009 | See Source »

...Others contend that while North Koreans may be increasingly curious about the outside world, that doesn't mean they're having fantasies about capitalist life. "It's silly to say North Koreans are so naive that they think South Korean dramas represent actual life in South Korea. They know it's entertainment," says Simon Cockerell, the general manager of Koryo Tours in Beijing, which leads tour groups to North Korea several times each year...

Author: /time Magazine | Title: Soap-Opera Diplomacy: North Koreans Crave Banned Videos | 10/29/2009 | See Source »

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