Word: reductionisms
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Fool's Gold That distant El Dorado may have enriched only some Britons, but the turbulence shaking it is felt by everyone. There's little agreement among politicians or economists about quite how much of a basket case Britain has become. "Although the economy is now growing, recovery is still...
Treasury Assistant Secretary Michael Barr says the principal-reduction program is voluntary, not mandatory, and that there's no guarantee homeowners will not default on the new refinanced loans. "We don't want to be overly optimistic about that," said Barr during a briefing on Friday. "Modifications are hard - they...
The answer: a combination of tax increases and fiscal smoke and mirrors. The legislation raises taxes by $569.2 billion and cuts funds from Medicare and Social Security. Democrats are also able to claim that the bill cuts the deficit because, while the insurance subsidies don’t start until...
Caught in the cross-hairs of California's state budget crisis, the Los Angeles Superior Court - the largest trial court system in the nation - this week laid off 329 employees and closed 16 courtrooms. Facing an unprecedented $79 million shortfall, Presiding Judge Charles W. McCoy said that the courts will...
"In addition to the impact on the civil courts, our family and juvenile courts are about to take huge hits," says Don Mike Anthony, president of the Los Angeles County Bar Association. He says custody orders, divorce and child support matters that now take 30 days will soon take four...