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...Unless law enforcement - in this case the Florida Highway Patrol (FHP), which has jurisdiction in traffic-accident investigations - finds some evidence that suggests Woods' crash was more than just a driving mishap, it can't compel him to grant a police interview. "If not, he's only obligated to pay a traffic fine and the cost of the hydrant he knocked over," says an official in Orange County (which includes Orlando and Isleworth) who is familiar with the case and spoke on condition of anonymity since the county is not involved in the probe. (See the 2009 TIME 100: Tiger...
...Will the U.S. Pay for the War? Many of Obama's Democratic allies in Congress are already saying that any reinforcements should be paid for with a war surtax. That, of course, is a fiscal fig leaf for antiwar sentiment within the party that helped win Obama its presidential nomination. The tax proposal may make political sense during a recession, but the estimated cost of the additional troops - perhaps $40 billion annually - is just over 1% of this year's federal budget. Don't expect Obama to play bean counter tonight, which will upset Democrats more than the GOP. (Read...
...Over the past several years, we have lost that balance and failed to appreciate the connection between our national security and our economy. In the wake of an economic crisis, too many of our friends and neighbors are out of work and struggle to pay the bills, and too many Americans are worried about the future facing our children. Meanwhile, competition within the global economy has grown more fierce. So we simply cannot afford to ignore the price of these wars...
While the Anglophile sheik kept a stiff upper lip, Dubai's inability to pay its debts is a heavy blow to an ego that easily dwarfs Dubai's gleaming new 160-story skyscraper. In the wake of the 2008 global financial meltdown, Sheik Mohammed repeatedly waved off predictions of Dubai's demise, staunchly defended his economic development model and dismissed Western media criticism as a bigoted slur on an Arab success story. "I can safely say that we have succeeded in containing the risks of the global financial crisis in record time," he said last April. Indeed, even...
...idea that income from the projects would buoy liquidity and help roll forward debt payments. For example, Dubai's driverless metro system, one of the most advanced in the world, is financed through three-year notes, which the city-state believed they could renew as ticket fees helped pay the interest. Now, the international consortium that is building the system - including the Japanese construction giants Mitsubishi and Obayashi as well as the Turkish company Yapi Merkezi - are probably left with huge fees unpaid...