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...hard for many Americans to believe, but the United States' checkbook hasn't always been in the red. Aside from periods of war or economic turmoil, the federal budget was actually in surplus for most of the nation's first 200 years. The government incurred considerable debt during the Civil War and the Spanish-American War but paid it off by the early 1900s. Between 1901 and 1916, the budget was almost always balanced. But then came the Great Depression followed closely by World War II, which resulted in a long succession of deficits that caused the federal debt...

Author: /time Magazine | Title: The U.S. Deficit | 8/25/2009 | See Source »

...elsewhere, Mr. James, dressed in his buttoned-up red polo shirt, tie and khakis, is seen as playing to Japan's xenophobic tendencies. Annoyed expats have described the character as "white, dorky" and speaking "mangled Japanese." The chair of the Foreign Residents and Naturalized Citizens' Association of Japan, Arudo Debito - a naturalized Japanese citizen born David Aldwinckle - has officially protested the Mr. James campaign with a letter to McDonald's Corp. headquarters in Illinois. Soon after the ads started to roll out, somebody set up an "I hate Mr. James" Facebook group, which now has 67 members...

Author: /time Magazine | Title: Not Everyone Is Lovin' Japan's New McDonald's Mascot | 8/25/2009 | See Source »

Fenway Park: 1. Home field of the World Champion Boston Red Sox, perennial rivals of the New York Yankees. Go now—and leave your Yankees cap at home...

Author: By The Crimson Staff, CRIMSON STAFF WRITER | Title: Dictionary of Harvardisms | 8/24/2009 | See Source »

Qdoba: 1. Chipotle’s red-headed step child. 2. Pronounced like there’s a hyphen: Q-doba...

Author: By The Crimson Staff, CRIMSON STAFF WRITER | Title: Dictionary of Harvardisms | 8/24/2009 | See Source »

...Administration is also expected to release a fourth OLC memo, from 2007, as well as a Justice Department memo from 2006, about conditions at the secret prisons. And, as if to underline the Administration's commitment to transparency, the Pentagon has decided to notify the Red Cross of the identifies of the detainees being held in secret camps in Iraq and Afghanistan...

Author: /time Magazine | Title: Five Questions for the CIA IG's Interrogation Report | 8/24/2009 | See Source »

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