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...that the pullback on debt-fueled spending continued into the spring. New data from the Federal Reserve shows that outstanding consumer credit which includes credit cards, auto loans and tuition financing, but not mortgages, fell by $15.7 billion to $2.52 trillion, an annualized drop of 7.4%. That marks the second-largest dollar drop on record, following March's $16.6 billion decline...

Author: /time Magazine | Title: Consumer Borrowing Is Down, But For How Long? | 6/6/2009 | See Source »

Thanks to other high-profile rabbis, such as Capers Funnye, the African-American leader of Chicago's Beth Shalom B'Nei Zaken synagogue - and First Lady Michelle Obama's second cousin - mainstream American Jewry appears ready to embrace leaders like Stanton. And with African Americans becoming increasingly drawn to Judaism, in part because of the shrinking perception that they are not welcomed by white Jews, the IJCR's Tobin say the timing could not be better for American Jewry to finally reconsider who and what makes a Jew. "Due to assimilation and intermarriage, the stability of the American Jewish community...

Author: /time Magazine | Title: Introducing America's First Black, Female Rabbi | 6/6/2009 | See Source »

...Iran's political class, the President has certainly taken a risk. "Ahmadinejad totally broke the rules of the game," said Moussavi supporter Hosseinian. "He may very well have a powerful current building up against him." There are now rumors that Rafsanjani, Expediency Council chief and the country's second most powerful personality after the Supreme Leader, has asked state television for an opportunity to debate Ahmadinejad live. State television in the Islamic Republic has rarely been this exciting...

Author: /time Magazine | Title: Iran's Presidential Debate: Will Ahmadinejad's Attacks Backfire? | 6/5/2009 | See Source »

...During the joint press conference with Merkel, Obama noted that Dresden had overcome "great tragedies and is now this beautiful city full of hope." Merkel called Obama's second visit to Germany as president "a trip of a highly symbolic nature." "It is just so important that President Barack Obama makes his first stop here in Dresden," said the German chancellor...

Author: /time Magazine | Title: Obama in Dresden: the Non-Controversy Controversy | 6/5/2009 | See Source »

...Second, it is most important to keep the memory of the great sacrifices alive that had to be made to put an end to the terror of National Socialism and to liberate its victims and to rid all people of its yoke. This is why I want to say a particular word of gratitude to the President of the United States of America, Barack Obama, for visiting this particular memorial. It gives me an opportunity to align yet again that we Germans shall never forget, and we owe the fact that we were given the opportunity after...

Author: /time Magazine | Title: Remarks at Buchenwald Concentration Camp | 6/5/2009 | See Source »

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