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Target an Industry and Stimulate Demand Cash for Clunkers - the program that paid people $4,500 to turn in their old cars and buy new ones - is one of the most demonstrably successful federal efforts at stimulating the economy so far. Over the summer, General Motors and other car companies ramped up production - adding shifts and running plants on overtime - to meet the increase in demand. Now policymakers are talking about Cash for Caulkers, a program that would give homeowners an incentive to better weatherize their houses. The goal would be to create work for a construction industry that still...

Author: /time Magazine | Title: Can the Federal Government Really Create Jobs? | 12/8/2009 | See Source »

THIERRY HENRY, French soccer star, deflecting blame for a handball that led to the game-tying goal against Ireland and earned France a berth in next summer's World Cup finals. Irish pleas for a rematch were denied by FIFA, the sport's governing body...

Author: /time Magazine | Title: Verbatim | 12/7/2009 | See Source »

...Until recently, that change looked like it might never happen. Last summer, Iraq's government hosted an auction for eight large oil and gas fields at Baghdad's high-end Al-Rashid Hotel. There, oil executives from the U.S., Europe, Russia, China and South Korea paraded on stage and dropped their bids into a sealed box, in a ceremony broadcast live on Iraqi television. It was meant to be grand theater, but proved a p.r. failure for Baghdad. Just one bid succeeded: it was submitted by a partnership between Britain's BP and China National Petroleum Corp. (CNPC) for production...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

...shown some signs of a thaw, Tehran's continued defiance of world opinion on its nuclear program notwithstanding. Obama has begun the highest-level diplomatic engagement with Tehran in 30 years and refrained from calling for the overthrow of the regime, even amid mass Iranian protests last summer aimed at accomplishing exactly that. Media coverage of the diplomatic dance between Washington and Tehran focuses on Iran's nuclear program, but by pursuing a fundamentally different relationship with the Islamic Republic, the Obama Administration is also quietly conceding that Iran's militancy is different from the terrorism of al-Qaeda...

Author: /time Magazine | Title: Obama Shrinks the War on Terrorism | 12/7/2009 | See Source »

...This summer, Education Secretary Arne Duncan set a national goal to turn around the bottom 1% of America's schools - approximately 5,000 of them - over the next five years. While he has since dialed back the scope of the project (the Education Department now expects the funds to tackle 1,200 or so schools), the objective remains the same. "My goal isn't quantity but quality," Duncan told TIME in July. "That bottom 1% are made up of dropout factories, where 50, 60, 75% of kids are dropping out. Change around the edges isn't going...

Author: /time Magazine | Title: Calling Out America's Worst Schools: A $3.5 Billion Plan | 12/4/2009 | See Source »

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