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...Waxman, chairman of the House Energy and Commerce Committee and a champion of the new legislation, says while "there is no such thing as a safe cigarette," the FDA regulatory structure will allow for research into how to reduce the harm of tobacco. "It's unusual to be on the same side as Philip Morris," he admits. "But their reasons are not our reasons. The bill is a good bill. If they happened to support it, that's fine with...

Author: /time Magazine | Title: Why a Tobacco Giant Backs a Tough New Antismoking Bill | 6/12/2009 | See Source »

...horrible, disastrous debt and have to go begging to the government, like a sad little stray. And then you still end up in Chapter 11. Your customers are peeved because they have to bail you out. Your frailty makes them wary of buying anything from you. And every wrong thing you've ever done (like, say, making the Pontiac Aztek,) nags at them like a stain you put on their best rug. How do you make a commercial for that...

Author: /time Magazine | Title: GM's New Ad Campaign: Will It Restart the Engines? | 6/11/2009 | See Source »

...Sotomayor is confirmed, as expected, the only thing one can confidently predict is that the cases involving race and diversity that she will confront are very different from the ones we are thinking about today. In that sense, the evolution of Sotomayor's thinking in the years ahead may be more consequential than what she has said in her past...

Author: /time Magazine | Title: Where Sonia Sotomayor Really Stands on Race | 6/11/2009 | See Source »

...that raises an interesting question: Why would we think that a debt-to-income ratio of 100% is sustainable? Well, for one thing, the economy has ostensibly evolved since the 1950s, and even since the 1980s. Advancements like securitized lending seem to have created a system in which interest rates are lower and consumers are able to shoulder more debt than they once were. The percentage of income that goes toward paying interest on debt went from 11% at the beginning of 1980 to 14% at the beginning of 2008, a much smaller jump than the increase in gross amount...

Author: /time Magazine | Title: A Drag on the Economic Rebound: Consumer Spending | 6/10/2009 | See Source »

...uncertainty surrounding health-care reform, most observers thought they could count on at least one thing from Capitol Hill - that the proposals coming out of the House of Representatives would be bolder and more liberal than those from the more moderate Senate. But as the first details of the actual bills begin to surface, that's no longer so clear. On Tuesday, the same day that the Senate Health, Education, Labor and Pensions (HELP) Committee released some of its bill's language, the first outlines of the bill being drafted by the three key committee chairmen in the House - Energy...

Author: /time Magazine | Title: The House's Surprisingly Moderate Health-Care Plan | 6/10/2009 | See Source »

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