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...handful of states with fiscal years ending on June 30 have taken wrenching steps needed to pass new budgets: mainly, a raft of tax hikes and service cuts. Vermont is shutting down highway rest stops and decimating its Agency of Natural Resources. In Washington, 40,000 people are losing their state-subsidized health care, and public-college tuition could be going up as much as 14%. New Jersey is hiking taxes on high-income earners, cigarette smokers (an extra 12.5 cents a pack) and drinkers (a 25% increase on wine and liquor...

Author: /time Magazine | Title: After California: Which States Are in the Most Peril? | 7/8/2009 | See Source »

...many Russians, interest in Obama's color has been replaced with a raft of other, weightier concerns. Relations between the U.S. and Russia eroded to a Cold War low under the Bush Administration, with tension developing over issues such as Russia's refusal to recognize the statehood of Kosovo and America's proposal to build an antimissile shield in Eastern Europe. People like Yevgeny Abashin, 40, who works in the travel industry, see Obama as a breath of fresh air after George W. Bush. "For me and for most of my friends, color doesn't make a difference," he says...

Author: /time Magazine | Title: Obama, Russia and the Question of Color | 7/6/2009 | See Source »

First of all, it's important to understand what the climate-change bill does and doesn't do. The bill includes a raft of energy-efficiency provisions and a renewable-energy standard that will require 20% of all U.S. electricity to come from alternative sources by 2020. Chiefly, though, Waxman-Markey puts a cap on almost all of the greenhouse-gas emissions produced by the U.S. economy - everything from utilities to industry to transportation - setting a limit on how much carbon the country can produce. Industries are issued allowances each year that give them the right to emit a certain...

Author: /time Magazine | Title: What the Energy Bill Really Means for CO2 Emissions | 6/27/2009 | See Source »

...engulfing Labour are forcing the party to tackle issues central to what might be called "New New Labour" concerns: recalibrating economic policy for reshaped realities; overhauling Britain's antiquated parliamentary system to increase accountability and transparency; reviewing its electoral system to broaden participation. On June 10, Brown announced a raft of proposals, including a part-elected House of Lords, independent regulation of Parliament and a statutory code of conduct for MPs. "The expenses crisis has actually delivered us an amazing opportunity for radical change," says Ben Bradshaw, newly created Culture Secretary in Brown's reconstituted Cabinet. "Gordon is talking about...

Author: /time Magazine | Title: Labour Pains: Gordon Brown is Running Out of Time | 6/22/2009 | See Source »

This tough line on the part of the U.S. should not be seen as a surprise. Ross's policy is straightforward; if bigger carrots don't work, try bigger sticks. If Tehran doesn't enter serious negotiations by September, the U.S. intends to unveil a raft of penalties. In return for U.S. participation in the nuclear talks, Ross got the Europeans to help plan sanctions that would target Iranian businesses that have nothing to do with the nuclear program. The U.S. wants bans on insuring Iranian energy firms and any companies that do business with them. It also wants...

Author: /time Magazine | Title: Can the U.S. Contain Iran's Nuclear Ambitions? | 6/15/2009 | See Source »

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