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...Orszag's deputy Robert Nabors agreed that there was no avoiding a deficit this year of about $1.5 trillion, including the bank bailout and the stimulus bill. They were prepared to swim even deeper into the red next year, expanding Obama's initiatives on renewable energy and high-speed rail lines and raising the deficit to 10% of gross domestic product, the highest figure since World War II. But assuming the economy has begun to turn around, the two-year spending splurge would be followed by a steady return to fiscal sanity: Obama wanted to bring the deficit down...

Author: /time Magazine | Title: After the Stimulus, Can Obama Tame the Deficit? | 2/19/2009 | See Source »

While some 75% of U.S. supplies gets into Afghanistan through Pakistan, those overland supply routes are coming under increasing insurgent attacks. Washington has won approval from Russia and Kazakhstan to ship non-lethal supplies (such as food and fuel) into Afghanistan by rail. Army General David Petraeus, chief of U.S. Central Command, was in Uzbekistan seeking similar rights this week, and the U.S. military is also studying routes through Tajikistan...

Author: /time Magazine | Title: Obama Loses a Key Base for Afghanistan | 2/19/2009 | See Source »

...Middle East and Asia would repeat Washington's careless habit of treating the continent in ways that helped give rise to the Castros and Chávezes in the first place. The best way to disarm Chávez is to give him fewer "imperialist" targets to rail at. As the anti-Bush, Obama has an advantage in that game, and he should use it. He'll find that thawing relations with Chávez before he goes to Trinidad will do a lot to break the ice with the rest of the hemisphere once he gets there...

Author: /time Magazine | Title: Why Obama Should Talk to Chávez | 2/18/2009 | See Source »

...film producer Bernd Eichinger is known as the guy who signs the checks for big budget crowd-pleasers like Resident Evil and The Fantastic Four. In Germany, he's better known for his reputation as a maverick, a troublemaker known for partying and the occasional barroom brawl. A tall rail of a man with graying hair and a raspy smoker's voice, Eichinger stunned moviegoers everywhere with Downfall, the 2004 Oscar nominee that focused in shocking detail on the final days of Hitler and his cohorts in the tight quarters of the Führer's underground bomb shelter. Long...

Author: /time Magazine | Title: Baader Meinhof: Action Hit, Oscar Hopeful | 2/16/2009 | See Source »

Place Your Bet. At long last, direct rail access to Atlantic City from New York. The Atlantic City Express Service (or, ACES) takes just under three hours and runs Friday through Sunday from Penn Station in Midtown Manhattan. With leather seats and kiosks selling food and drinks, it promises to be more comfortable than the bus. There's also a lounge car, complete with a stereo and DVD system, at back of the train, which can be rented for a group. Introductory ticket prices are $50 one-way for coach; $75 for first class...

Author: /time Magazine | Title: Fashion Week's Couture Tea Cakes and Other Travel News | 2/9/2009 | See Source »

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