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...More program cuts seem inevitable as states are squeezed by rising costs for health care and education on one side and falling revenue on the other. According to a November survey of legislative fiscal officers included in the report, 18 states are seeing personal income tax come in below target, 26 states are watching sales tax fall below forecast, and 21 states are finding corporate income taxes to be less than what they expected. "State lawmakers knew that revenue growth was slowing, but no one could have foreseen just how dramatically the situation would change in a few short months...

Author: /time Magazine | Title: States' Financial Outlook: Getting Worse Fast | 12/5/2008 | See Source »

...TIGHT SQUEEZE When you're halfway to the target, clench to prep for landing...

Author: /time Magazine | Title: A Free Boxing Lesson With: Oscar De La Hoya | 12/4/2008 | See Source »

...realized it wasn’t shocking anymore to have part of your personal geography become a target. It happened to everyone. My first terrorist attack: a new kind of coming...

Author: By Lois E. Beckett | Title: A New Coming of Age | 12/4/2008 | See Source »

...poor, including the clients of our network, has probably been most evident in rising food and energy prices, which have meant that families may face trade-offs like the choice between paying back their loans or putting dinner on the table for their families. Microfinance doesn't target the poorest of the poor, as they need other types of intervention. It targets the economically active poor at the bottom of the pyramid. There are signs that micro-entrepreneurs will see higher interest rates, since the global credit crunch will likely require MFIs to raise interest rates as funding becomes more...

Author: /time Magazine | Title: Microfinance Still Hums, Despite Global Financial Crisis | 12/3/2008 | See Source »

...turmoil out of Iraq may no longer be bloody and fatal, but politics can result in casualties too. Indeed, the recent successes of Iraq's Shi'ite Prime Minister, Nouri al-Maliki, may have made him a target for the country's increasingly voluble politicians. In his apparent overwhelming confidence in his power, Maliki has recently picked fights with his Kurdish allies, his Shi'ite opponents and his Sunni partners over a variety of issues. Now Iraq's President, Jalal Talabani, who is a Kurd, wants to haul the Prime Minister into federal court, an unprecedented and blistering public slap...

Author: /time Magazine | Title: Iraq's al-Maliki Faces Challenge Over Power Grab | 12/3/2008 | See Source »

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