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...State of the Union address, President Clinton said he wants $2.7 trillion of projected government surpluses set aside for Social Security. That is a good idea. He then wants a quarter of that, about $675 billion, invested in the stock market. That is a bad idea. Indeed, it might just be the worst idea of the decade...
...trillion Approximate number of e-mail messages received by U.S. residents...
...their gripes to White House policy -- which is just what Clinton wanted. "The President is trying to set up the same trap as last year, which is to put the Republicans against Social Security," says TIME congressional correspondent John Dickerson. Though Dick Armey attacked the proposed budget -- "a $4 trillion surplus, and not a penny for tax cuts?" -- Wednesday morning, Dickerson says, Republicans were toning down the rhetoric, going out of their way to appear supportive of the office...
...many cases, the original COBOL code has been rejiggered so many times that the date locations have been lost. And even when programmers find their quarry, they aren't sure which fixes will work. The amount of code that needs to be checked has grown to a staggering 1.2 trillion lines. Estimates for the cost of the fix in the U.S. alone range from $50 billion to $600 billion. As for Y2K compliance in Asian economies still struggling with recession? Forget about...
...Sorry, it just isn't so. True, some tax rates have fallen. And tax reform last year gave us tax credits for education and tax deductions for long-term savings. But new targeted breaks total maybe $20 billion, which pales next to Americans' annual tax burden of nearly $3 trillion. In 1998 it took the combined incomes of everybody in the U.S. through May 10 to pay all taxes owed for the year--the latest "tax freedom" day ever, says the Tax Foundation, which figures the date will be even later this year...