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...Gist: Kudos to California! On July 20, the Golden State finally cobbled together a plan to bridge its $26.3 billion budget gap, leaving North Carolina, Connecticut and Pennsylvania as the only states that have not yet reached an agreement. But before lawmakers start slapping backs, they should know that next year's budget crunch could be even tighter. Thanks to dwindling revenues, paltry collection rates and the economic storm soaking taxpayers, the $142.6 billion budget shortfall that states faced during the 2009 fiscal year is but one hurdle in a longer financial gauntlet, according to this bleak assessment from...

Author: /time Magazine | Title: Why States' Budget Woes Won't End Soon | 7/23/2009 | See Source »

...Earned two simultaneous bachelor's degrees from the University of Pennsylvania - one in economics from its Wharton School of Business. Earned a law degree with highest honors at New York University...

Author: /time Magazine | Title: TARP Watchdog Neil Barofsky | 7/21/2009 | See Source »

...would be one of the major means by which lawmakers hope to achieve universal health coverage - which is one of the reasons that governors, whose budgets are already straining under the program's growing costs, are so wary of the idea. "It depends on what's being proposed," says Pennsylvania's Ed Rendell, a Democrat. "These could essentially be unfunded mandates, and would be enormously destructive to state budgets...

Author: /time Magazine | Title: Medicaid and the States: Health-Care Reform's Next Hurdle | 7/21/2009 | See Source »

...safety-net services is growing. According to the Center for Budget and Policy Priorities, at least 48 states are facing shortfalls totaling $166 billion - 24% of their total budgets. Rendell, the outgoing chairman of the NGA, was unable to attend the Biloxi meeting because he had to stay in Pennsylvania and struggle with the legislature to find a way to plug a $3.2 billion fiscal hole...

Author: /time Magazine | Title: Medicaid and the States: Health-Care Reform's Next Hurdle | 7/21/2009 | See Source »

...single lie is identical to the next and most are too elaborately constructed to pin down on a brain scan. Although fMRI allows us to "track the thought process in real time - and that's a huge advance over the polygraph," says Ruben Gur at the University of Pennsylvania, people should not have the "naive view that whenever someone lies, there will be the same [kind of] response that will then be picked up by the fMRI...

Author: /time Magazine | Title: The fMRI Brain Scan: A Better Lie Detector? | 7/20/2009 | See Source »

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