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Prominent economists like Mark Zandi at Economy.com, who has counseled the White House and also worked with the presidential campaign of John McCain, say there is little doubt what is going on. "Yes, I think it's a form of stimulus," said Zandi, who has always favored a second stimulus. "This is what I always thought would happen, policymakers would take it one step at a time...

Author: /time Magazine | Title: The White House Readies a Stealth Stimulus | 10/19/2009 | See Source »

...other words, the new stimulus efforts, which are still under discussion, are unlikely to be packaged into a single bill, which would be politically unpopular. An August Gallup poll, for instance, found that 65% of Americans opposed a "second stimulus" and 51% thought that the Federal Government "should spend less" than it is currently spending on stimulus. And that opposition is likely to grow after the announcement on Oct. 16 that the federal deficit for the fiscal year that just ended hit $1.4 trillion, which, at almost 10% of the total economy, represents the largest share since...

Author: /time Magazine | Title: The White House Readies a Stealth Stimulus | 10/19/2009 | See Source »

...exact content of this piecemeal, second effort is not yet known. The White House has so far declined to spell out its wishes. On Oct. 14, Obama announced his desire to give seniors onetime checks for $250 in lieu of any cost-of-living increase in Social Security checks this year. The checks, costing about $14 billion, would be paid for with an increase in payroll taxes for people with incomes over...

Author: /time Magazine | Title: The White House Readies a Stealth Stimulus | 10/19/2009 | See Source »

...Tehran, dominated by Shi'ite Persians, and the Baluchi minority. The attack involved a suicide bomber entering a mosque in the city of Pisheen during a meeting between local Sunni and Shi'ite leaders that was organized by the Revolutionary Guards to improve dialogue between the two communities. A second bomber struck a vehicle containing several Guards officers. The dead included the lieutenant commander of the Guards' ground forces in all of Iran as well as the Guards commander of the Sistan-Baluchistan region...

Author: /time Magazine | Title: Why a Bombing in Iran Could Be Bad News for Obama | 10/19/2009 | See Source »

...While any suggestion of a U.S. hand in Sunday's attack may be far-fetched, Iran is basing its accusation on the covert program begun by the Bush Administration during its second term in office that allocated hundreds of millions of dollars to efforts at destabilizing the regime from inside Iran. And while President Obama came into office promising a new era of engagment with Iran, it's not clear whether the covert program was ever suspended. Former Bush National Security Council officials Flynt Leverett and Hilary Mann Leverett wrote recently in the New York Times of their conversations with...

Author: /time Magazine | Title: Why a Bombing in Iran Could Be Bad News for Obama | 10/19/2009 | See Source »

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