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Just as our two-sided national character has always toggled back and forth between its steady and skylarking aspects, so does our national history run in cycles, as writers have noted almost from the beginning. And so once more we are making the periodic shift from an unfettered zeal for individual getting and spending to a rediscovery of the common good, from "the business of America is business" seeming inarguably true to sounding narrow, callous, a little crazy...

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

...vertical, weaving up and down. Each affects the other, but unpredictably. A political or economic era can be as brief as 10 years or as long as a quarter-century, but the politics and economics don't move obviously in sync. Prosperity, for instance, can reinforce the "natural" political shift toward the right, as it did after World War II and for most of the past 25 years, but it can also accelerate a turn to the left, as it did in the early 1960s. Or the social discombobulations provoked by a given zig, as with the late...

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

...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. And we have to take advantage of that...

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

...million in bonuses paid out to top executives at AIG - the insurance giant that has received more than $180 billion in federal money. This week Obama remains relatively untouched in the polls, and Geithner is basking in his best week of media coverage yet. How did their fortunes shift so suddenly? To some degree, they were helped by the fact that New York State Attorney General Andrew Cuomo announced Monday night that he has already managed to get AIG employees to give back $50 million of the bonuses. But much of the credit still has to go to the Obama...

Author: /time Magazine | Title: Five Lessons from the AIG Bonus Blowup | 3/25/2009 | See Source »

...message was delivered - though it was, one must say, a big shift from the last time Obama messed up the prime-time television schedule for a press conference. Six weeks ago, he had a different message: The nation was facing a financial abyss, he explained, and lots had to be done, and fast, to prevent a prolonged economic catastrophe. Now he had returned to the same format to say that that the ship was slowly turning and the problems would be solved. Teachers and police officers were keeping their jobs, he said in his introduction, reading from a large...

Author: /time Magazine | Title: Obama's 'Persistent' Presser: Message Accomplished | 3/25/2009 | See Source »

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