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President Obama may have left jaws hanging with his proposed $3.8 trillion budget for the fiscal year 2011 - which forecasts a stunning $1.6 trillion deficit - but he's hardly the only member of the "spend now, pay later" club. Across Europe, governments have gotten so used to embracing debt during economically tight times such as these that some experts are starting to wonder if they will get back to viable deficit levels - much less balanced budgets - anytime soon...

Author: /time Magazine | Title: The U.S. Is Not Alone — Europe's in Debt Too | 2/2/2010 | See Source »

...even more challenging with the tax cuts that President Nicolas Sarkozy keeps handing out - most recently to businesses worth over $10 billion annually - coupled with his call for all E.U. countries to continue pumping their economies with stimulus spending to foster growth. Even Germany, the E.U.'s most disciplined member, will see its 2009 deficit of nearly 4% rise to almost 5% in 2010 under the government's plan to cut taxes while increasing spending...

Author: /time Magazine | Title: The U.S. Is Not Alone — Europe's in Debt Too | 2/2/2010 | See Source »

...eating at Mexican restaurants quickly became a topic of conversation among the strangers who started following me on the site. As I scrolled through other users' purchases, I was reminded that most people sometimes go to grocery stores instead of eating out every night. I noticed another Blippy member getting joshed about how often charges showed up from a particular bar. He bantered back that to avoid the appearance of a drinking problem, maybe he should switch to cash...

Author: /time Magazine | Title: Public Spending | 2/1/2010 | See Source »

...Stock won LIFE magazine's competition for young photographers. Stock was 23. Thanks to talent, persistence and an eye for irony, he climbed the ladder of the profession. Dennis hung around the cooperative agency Magnum until founder Robert Capa invited him to join, and he was still an active member when he died on Jan. 11 at 81. His most memorable photo story was on actor James Dean, with whom he traveled across the country--at one point, Dean decided to pose in an open coffin at a funeral parlor--just months before Dean died in a car accident. Stock...

Author: /time Magazine | Title: Dennis Stock | 2/1/2010 | See Source »

Though the screening was a taped performance rather than the planned live simulcast from Norfolk, Va. (an event postponed by bad weather), energy levels in the audience were high. One audience member waved a bumper sticker that read, "Glenn Beck. American Hero." (See pictures from a day in the life of Glenn Beck...

Author: /time Magazine | Title: Live on Tape with Glenn Beck and Bill O'Reilly! | 1/31/2010 | See Source »

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