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...recent weeks, the Obama Administration has taken heat for having underestimated how bad the economy would get. With the unemployment rate surpassing the Administration's best predictions, ABC's George Stephanopoulos asked Vice President Joe Biden if the stimulus package was too small or if the White House simply didn't have a handle on the seriousness of our economic ills. When an interviewer posed a similar question on National Public Radio, the chair of the President's Council of Economic Advisers, Christina Romer, replied, "It's important to realize that none of us has a crystal ball...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

...want to know how high unemployment is going to be six months from now, you start with how high it is today. If the economy isn't stable and the old relationships don't hold as well as they used to, then the models break down. In recent years, there have been great advances in economic modeling, says Stock, but forecasts haven't necessarily gotten much better since the economy itself has grown more complex...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

...good: Scores for all students have risen since the NAEP was first administered, and the achievement gap narrowed by an average of 7 points from 1992 to 2007 (the date of the most recent test). Black fourth-graders have gained meaningful ground in math and reading since the test was first administered, in the early 1990s, while eighth-graders have made slight progress...

Author: /time Magazine | Title: Studying the Impact of Race in the Classroom | 7/16/2009 | See Source »

...smile.") And in Washington, even as she was aiding Zelaya's cause last week, Clinton sat down for an interview with Globovisión, an intensely anti-Chávez Venezuelan news network that backed a failed 2002 coup attempt against him. Asked about Chávez's recent threats to shut down Globovisión, Clinton said that suppressing opposition media is "not a way to run a democracy." That set off the Chávez government, which issued a statement calling Clinton's remarks "aggressive" and "disrespectful...

Author: /time Magazine | Title: The Honduran Crisis: Making Chums of Chávez and Obama? | 7/16/2009 | See Source »

...most recent research included contributions to a Human Rights Watch (HRW) report that accused the Chechen government of burning more than two dozen homes in punitive attacks against the families of suspected rebels. She also exposed the recent summary public execution of a young suspected separatist by a security officer in Chechnya. On the day of her murder, a 600-page report that she had helped research was released by Russian human-rights groups. The report exhaustively documents atrocities committed by all sides during the two Chechen wars and concludes that there is sufficient evidence to demand that Putin, among...

Author: /time Magazine | Title: Killings of Russia's Human-Rights Activists Continue | 7/16/2009 | See Source »

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