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Americans spent more than $1 trillion on Visa credit, debit and prepaid cards in 2004, a 19% jump over the year before. Visa USA CEO Carl Pascarella sat down with TIME's Barbara Kiviat to talk about the continued march to plastic...
PASCARELLA: There's $19 trillion spent by consumers and businesses on cash and checks. That's ripe for the picking by Visa or any other card. Our banks are going to test some things with American Express and Discover, but if we have the right value proposition, we're going...
...TRILLION Predicted U.S. health-care spending in 2014. That would be 19% of the U.S. economy, up from...
When George W. Bush submitted his whopping $2.57 trillion proposal to Congress last week, it showed how the war on terrorism has come home to roost. Both the Defense and Homeland Security departments get boosts, while many domestic programs for the poor, like vocational education and Medicaid, take a hit. Bush's aides portray him as Dr. No, turning down pleas from Cabinet Secretaries. But he's not standing in the way of two juicy repeals of taxes on the wealthy, scheduled to take effect next year. Here's a guide to the budget's winners and losers. --By Matthew...
Competition in the commercial- airplane market--estimated to be worth $2 trillion over the next 20 years--is expected, but this feud has bigger implications. At its core is a debate about the relationship between the state and private enterprise--specifically, what sort of helping hand can a country legally give its friendly local planemaker? Because of the big money involved and the critical role that aircraft play in national security, the spat threatens already tense U.S.-E.U. relations and could hurt the huge aerospace industry and its thousands of employees on both sides of the Atlantic...