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...Compact Summers' immediate task is to convince skeptical Senators that shelling out nearly $1 trillion over two years isn't another exercise in traditional pork-barrel spending but a vital step needed to save jobs and invest in the future. Some Republicans call the current plan wasteful; free-spending Democrats long for more investments over years, not months. Summers argues that the stimulus bill splits the difference: not only will most of the money go to reviving the economy in the next 18 months, but much of it will also go to projects that could save money over the long...

Author: /time Magazine | Title: Can Larry Summers Save the Economy? | 1/29/2009 | See Source »

...anyone reads basic economics anymore. It has been widely understood for centuries that government does not create wealth; it merely redistributes it. The stimulus plan can be summarized as follows: we are going to borrow a trillion dollars from foreigners and spend it on a mile-long list of pork-barrel projects that we don't immediately need (or else we would have found another way to pay for them) and hope this gets us out of the recession. Did I miss something? There is a growing consensus among historians and economists that World War II, not the New Deal...

Author: /time Magazine | Title: Inbox | 1/29/2009 | See Source »

Whatever your thoughts - maybe using American-made materials will create jobs, or maybe it's just another way for Congress to bring home the pork - readthestimulus.org is pleasantly agenda-free. Users can comment on individual bill pages, and while most commenters swing right (renewable energy investments really get people fired up), the project's goal is to simply get the information out there. "The whole project is frankly in some sense stupid," says Rob Neppell, president of new media development company Kithbridge, who runs the website. "It's stupid because we're doing a lot of reengineering, we're trying...

Author: /time Magazine | Title: Reading the Stimulus | 1/25/2009 | See Source »

...rise of the automobile, which meant that fewer men had to spend time out in the cold walking or waiting for the bus. But in the past two or three years, thanks to popular musicians like Justin Timberlake and Usher, formal hats like the fedora and the pork-pie have become popular again. (See pictures of the fashion of Michelle Obama...

Author: /time Magazine | Title: The Hot Inaugural Accessory: Hats Are Back! | 1/21/2009 | See Source »

...with a population of 50. Though the bridge was never built, the earmark became a symbol for congressional excess and waste. Transportation, as such a local issue, lends itself naturally to earmarks, and Oberstar's committee is a bit infamous on the Hill as a friendly home to such pork-barrel projects. But Oberstar is in constant contact with Obama's shadow Administration and, with the help of John Mica of Florida, the committee's top Republican, is working to keep any earmarks out of the bill. (View the 10 most outrageous earmarks...

Author: /time Magazine | Title: Congress's Point Man on Infrastructure Spending | 1/16/2009 | See Source »

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