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When White House budget director Mitchell Daniels testified before the Senate Budget Committee this spring, he brought along a plump apple pie--an apt symbol for the government's bountiful budget surplus, then estimated at some $275 billion. But when Daniels appeared before the panel last week, his estimate of the spare cash fell as low as $160 billion. The committee's new Democratic chairman, Kent Conrad, served some baked goods too. He gave Daniels a modest pear tart with the words "shrinking surplus" inscribed in frosting...

Author: /time Magazine | Title: The One That Got Away | 7/23/2001 | See Source »

...weeks ago, in a sweltering courthouse with broken windows, water-stained walls and seats splotched with mildew, a three-judge panel convicted the couple on charges of embezzling, destruction of evidence and tax evasion. They were sentenced to serve seven years and pay fines of more than $500,000, a sum the Danes say they don't have. How did a lark turn into a legal quagmire? Blame a combination of naivety, inept legal advice and a complex ownership battle over a sapphire mine in a backwater capital where Western businesses remain a novelty, payoffs are routine and regulations nonexistent...

Author: /time Magazine | Title: A Dream in Tatters | 7/23/2001 | See Source »

Does that mean we should forget about total artificial hearts like Abiomed's? Not at all. There will always be some folks whose hearts are so worn out they cannot be salvaged. A review panel convened by the National Heart Lung and Blood Institute in 1999 estimated that between 5,000 and 10,000 patients a year might be helped by the development of total artificial hearts. But as with many medical advances, the early going will probably be grim. Doctors in Louisville will consider their experiment an astounding success if their patient manages to live an extra two months...

Author: /time Magazine | Title: The Artificial Heart, Revisited | 7/16/2001 | See Source »

...level of anti-Kim rhetoric that lawmaker Lee broke ranks with his own party leaders and urged them to tone down the brimstone. " We shouldn't give the impression we're defending tax evasion or corruption," he told TIME. Lee called on the government to set up an independent panel to unravel the media mess. The more likely scenario, skeptics say, is years of wrangling in court over the fines, or a backroom deal that will get the media off the tax hook?and, perhaps, encourage them to write sentiments a little bit sweeter...

Author: /time Magazine | Title: Stomping the Presses | 7/16/2001 | See Source »

...Despite the obstacles facing a treaty on global warming, there is more evidence lately that the phenomenon is real. A report by the U.N. Intergovernmental Panel for Climate change says the earth is warming faster than at any time in the last millennium. Ground temperatures are 1.1 degree Fahrenheit higher than 100 years ago, and the pace could increase quickly in the next hundred years if nothing changes...

Author: /time Magazine | Title: A Global Warming Treaty's Last Chance | 7/16/2001 | See Source »

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