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...President Obama's limited spending freeze won't in itself do much to address that disconnect, Elmendorf suggests. The CBO director projects that even if such a spending cap were to extend to all discretionary government outlays (Obama would exempt national security), it would save only $10 billion in the next fiscal year, less than 1% of the budget. Nor is it likely that Congress will make much of a dent in the problem, at least not in the short term. (See 10 players in health care reform...

Author: /time Magazine | Title: Douglas Elmendorf: The Numbers Man Whom D.C. Trusts — and Loathes | 2/3/2010 | See Source »

...wheels, serving subpoenas on third parties or conducting long-term surveillance, trying to pierce the corporate veil. Changing the rules is such a priority that these groups are willing to redeploy homeland-security funds, intended for first responders, to pay for the implementation, because they figure it will ultimately save them lots of money and time. (See the top 10 news stories...

Author: /time Magazine | Title: Why U.S. Law Helps Shield Global Criminality | 2/2/2010 | See Source »

...risen the fastest in the euro-zone group, which requires members to limit their budget shortfalls to 3% of GDP. Many of these countries began exceeding that threshold before the financial crisis began and then went well above it after the crash. E.U. countries collectively spent $1.5 billion to save their vulnerable banking sectors and a further $200 billion in stimulus funding to revive their economies. Although the latter helped the 16-nation euro zone exit the recession in the middle of 2009, it also lifted already lofty deficit levels even higher - and brought Greece and Spain perilously close...

Author: /time Magazine | Title: The U.S. Is Not Alone — Europe's in Debt Too | 2/2/2010 | See Source »

...most intimate track on the album is "IRM" - that's French for an MRI scan - which pulsates with clanging industrial beats. In 2007, Gainsbourg suffered a brain hemorrhage in a waterskiing accident and surgeons had to drill through her skull to save her. Despite recovering fully, she insisted on undergoing MRI scans for several months after the accident. "The sounds inside the machine are nasty to hear," she says. "They're brutal and aggressive, and rhythmically very chaotic. But they're also musical." The lyrics on "IRM" address her attempts to exorcise her medical demons: "Leave my head demagnetized/ Tell...

Author: /time Magazine | Title: Charlotte Gainsbourg: On the Mend and Finding Solace in Music | 2/1/2010 | See Source »

...moves his family to be near doctors working on a cure. He soon founds his own biotech company to steer and spur the doctors' research. (In the movie, the medics are compacted into the single, ornery person of Harrison Ford.) Do they find a therapy in time to save Crowley's children? That's the film's suspense factor - a ticking time bomb attached to two winsome kids. (See pictures of Harrison Ford's career in film...

Author: /time Magazine | Title: Extraordinary Measures: Sentiment Makes a Comeback | 2/1/2010 | See Source »

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