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...fund the spending spree. That will most likely mean reducing outlays and raising taxes in the future. But neither presidential candidate can convincingly argue that a balanced budget is possible in the next few years. Both are advocating economic programs that will probably increase the deficit even more. Republican candidate John McCain is calling for some $52 billion in economic recovery spending, while Democratic candidate Barack Obama's plan would cost roughly $175 billion. Both McCain and Obama have vowed to cut taxes, which is likely to drive the deficit higher...

Author: /time Magazine | Title: Spend, Baby, Spend: US Budget Deficit to Soar Again | 10/20/2008 | See Source »

...Geraldine Ferraro. By the time the dinner rolled along, tensions between the Catholic Church and the Democratic Party had become so strained that the Democratic nominee Walter Mondale simply skipped the event. Reagan attended alone and, on Election Day, captured 61% of Catholic voters, the largest share that any Republican presidential candidate had ever earned. No GOP candidate has matched it since...

Author: /time Magazine | Title: How Catholics Are Judging Obama and the Democrats | 10/18/2008 | See Source »

...There was, of course, nothing McCain could do to prevent the financial crisis, or even much, most observers say, he could do to blunt Obama's strong debate performance. But that doesn't mean the Republican nominee didn't exacerbate those and other situations this fall. Four decisions the campaign made over the past two months in particular have heavily contributed to its current woes...

Author: /time Magazine | Title: McCain's Struggles: Four Ways He Went Wrong | 10/17/2008 | See Source »

...McCain Drove into a House Republican Wall. At the height of the financial crisis, John McCain took a big, and many would say ill-advised, risk, announcing he was suspending his campaign and even threatening to skip the first debate to get "in the arena," as his hero Teddy Roosevelt put it. He returned to Washington and attempted to demonstrate a type of leadership on the financial crisis that would distinguish him from Obama's more hands-off approach. The effort to help craft a bipartisan bailout plan had muddled results, mainly because McCain's influence among House Republicans...

Author: /time Magazine | Title: McCain's Struggles: Four Ways He Went Wrong | 10/17/2008 | See Source »

...recent years, Spain's Socialist government has made some efforts to redress the complaints of victims of the regime and their family members. The Law of Historical Memory, passed in 2007, provides pensions for soldiers who fought in the Republican army and includes a provision that denies the legitimacy of Franco's political trials. But for someone like Silva, whose own grandfather, an activist with a progressive party called Republican Left, was assassinated by pro-Franco Falangists in 1936, that law doesn't go far enough. "The political branch of the government is still refusing to publicly recognize the victims...

Author: /time Magazine | Title: At Last, Spain Faces Up to Franco's Guilt | 10/17/2008 | See Source »

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