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...victory garden planted by Eleanor Roosevelt during WW II. F.D.R. made a cloakroom into a movie theater and put in an indoor swimming pool. Nixon, an avid bowler, added a one-lane alley. Eco-friendly Jimmy Carter installed solar panels on the roof in 1979, only to have Ronald Reagan remove them in 1986--proof that even First Families can't go home again...

Author: /time Magazine | Title: White House Renovation | 3/26/2009 | See Source »

...early 1980s, around the time Ronald Reagan became President and Wall Street's great modern bull market began, we started gambling (and winning!) and thinking magically. From 1980 to 2007, the median price of a new American home quadrupled. The Dow Jones industrial average climbed from 803 in the summer of 1982 to 14,165 in the fall of 2007. From the beginning of the '80s through 2007, the share of disposable income that each household spent servicing its mortgage and consumer debt increased 35%. Back in 1982, the average household saved 11% of its disposable income. By 2007 that...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...soon enough how well President Barack Obama copes, but long before the collapse, he clearly sensed the nature of the historical moment. His Democratic opponents were all over him a year ago when he gave the Reagan Revolution its due, but he was exactly right: "Ronald Reagan changed the trajectory of America ... He tapped into what people were already feeling ... [He] transformed American politics and set the agenda for a long time ... In political terms, we may be in one of those moments where we can get a seismic shift in how the country views itself and our future...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...than Obama had projected when the budget was drafted, and than several other economic forecasts anticipate. Under the Administration's plans, that means an explosion in government debt after the current recession ends, with sustained deficits even larger than the ones caused in the 1980s by the policies of Ronald Reagan. The national debt, the CBO calculated, would go from 41% of the size of the nation's economic output in 2008 to 82% of the economic output in 2019. In other words, if the CBO estimates play out without a change in policy, Obama is on track to accomplish...

Author: /time Magazine | Title: Will Deficits Force Obama to Sacrifice His Agenda? | 3/23/2009 | See Source »

Other house administrators of repute are Peeples (mildly terrifying but ultimately harmless), Superintendent David Simms, and Enoch, a Ghanaian table-tennis champion-turned-security guard. Ronald S. Sullivan and Stephanie Robinson were recently selected to assume the duties of House Masters in June, with Rosen and Sassanfar set to step down after a six-year stint at the helm. Sullivan (who met Barack Obama on the basketball court in their HLS days), and Robinson will be the first black couple to serve as House Masters at Harvard, fulfilling Winthrop’s longstanding commitment to diversity (it was the first...

Author: By Emma M. Lind | Title: The Housing Crisis: Winthrop House | 3/18/2009 | See Source »

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