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...sectors and a further $200 billion in stimulus funding to revive their economies. Although the latter helped the 16-nation euro zone exit the recession in the middle of 2009, it also lifted already lofty deficit levels even higher - and brought Greece and Spain perilously close to default. Late last year, the European Commission put a handful of other nations on alert out of similar fears, including France and Ireland...
...promising to slash its deficit of 11.4% to just 3% by 2013, although the country - which is still reeling from the recession, with unemployment of nearly 19% - has been vague about how it will do that beyond proposing $69 billion in cost-cutting measures over the next four years. Last month, French officials somehow managed to sound proud when they announced that France's 2009 deficit of 7.9% was lower than the expected 8.2% - and that they would hold it below 8.2% for the rest of this year. (Read "Why Greece Could Be the Next Dubai...
...year-old Constellation program, which had been focused on developing new boosters, Apollo-like orbiters and a 21st century lunar lander, all with the goal of making long-term stays on the moon possible, will be scrapped, after $9 billion and a single flight of the Ares 1 booster last October. The longer-term goal of venturing out to Mars is being tabled along with it. (See pictures of the Ares rocket...
...most intriguing new addition to the private rocket game is Space Exploration Technologies (SpaceX), founded by Elon Musk, better known as the man who created PayPal. SpaceX has impressed and indeed charmed NASA, and not without reason. Its Falcon 1 rocket has been launched five times; the last two successfully reached earth orbit and the last one lofted a commercial payload. What's more, the operation - with 800 employees working principally in Los Angeles and central Texas - has something of the young, hyper-caffeinated energy of the old NASA. The space agency has already inked a deal for 15 Falcon...
...legislation in his recent State of the Union address, there was one term he did not use: carbon cap. And in its proposed budget for fiscal year 2011, released on Monday, the White House did not name a specific dollar figure for revenue it expects from cap and trade. Last year's budget projected $79 billion in revenue from the auction of carbon credits...