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...notice that it faces a sharp diminution of critical social programs based on data which will need to be correct 10, 40, and 75 years from now is an example of why citizens and taxpayers often ask how the government bases financial decisions on opinions offered by people who spend years in windowless rooms. In those rooms, they evaluate data and change it as they get new pieces of financial information, some of which requires subjective interpretation. Economists and actuaries do not like being told that their forecasts are likely to be less accurate than those of veterinarian scientists forecasting...

Author: /time Magazine | Title: The Great Social Security and Medicare Panic | 5/13/2009 | See Source »

...sanguine is NASA about this problem - or, at least, so sanguine is it trying to appear - that while Cain says engineers will spend the night analyzing the images and data from Atlantis, he does not think the inspection will yield anything to cause further worry. "We probably won't even need a focused inspection in this area," says Cain. "Still, we want them to take the time and review the data...

Author: /time Magazine | Title: Space Shuttle: Same Old Damage, Same Old Worries | 5/13/2009 | See Source »

...blue-ribbon commission released a worried report about the precipitous decline of physical education in schools since the early '90s, coinciding with a ballooning rate of obesity in kids. Both Democrats and Republicans have latched onto that argument to criticize school districts for eliminating P.E. in order to spend more to meet the rigorous testing standards of 2001's No Child Left Behind Act. Even G.O.P. Senator John Cornyn, a Texan who despises most government spending, has bragged about his support for a federal program that gives grants to schools for P.E. classes. Congress has appropriated more than $320 million...

Author: /time Magazine | Title: Why Kids' Exercise Matters Less Than We Think | 5/13/2009 | See Source »

...actually bring medical spending under control? Health-care experts say it is possible to cut it significantly without reducing quality. Indeed, they say more efficient medicine would be better medicine. By some estimates, as much as $700 billion of the $2.3 trillion that we spend on medical care each year is on unnecessary treatment that is not doing anything to make us healthier - and could even be hurting us. Obama Administration budget director Peter Orszag notes that all sides now are starting to agree that four big changes are needed...

Author: /time Magazine | Title: Cost, Not Coverage, Drive Health-Care Debate | 5/13/2009 | See Source »

...past 12 months. That information would come on a person's statement as well as electronically for easier comparison shopping. "By knowing their precise usage and fee payments, customers would get a better sense of what they are paying for," write Thaler and Sunstein. Ostensibly, people would then spend more reasonably. When a new sofa goes from costing $500 to $700 - and the pricing is transparent enough for people to realize that - fewer...

Author: /time Magazine | Title: The Real Problem with Credit Cards: The Cardholders | 5/12/2009 | See Source »

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