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...this year's snapback won't be as big as those following the last two recessions, since consumers currently face headwinds from high unemployment, the battered housing sector and frozen credit markets. "We're well into a jobless recovery, credit lines have been cut, and consumers can no longer use their houses as ATMs," he says. Nevertheless, Canally says, consumers are benefiting from last year's rebound in the stock market and higher consumer savings rate, which makes them stronger financially. "Consumers are feeling a lot better today than they did 12 months ago," he says. (See pictures of retailers...

Author: /time Magazine | Title: Retail Outlook: More Bargain-Seeking Shoppers | 1/28/2010 | See Source »

...there are more serious issues he should be working on. "Every time someone says that, I think my head should explode," he says. "As far as I'm concerned, this is an important issue. The evidence I've seen certainly suggests a powerful medicinal use for marijuana that can stimulate appetite and can reduce pain and suffering. So frankly that's my decision, and I'm capable of doing more than one thing at a time, as are my colleagues and as is this government." (See "The Year in Health 2009: From...

Author: /time Magazine | Title: Medical Marijuana Finally Heads for D.C. | 1/27/2010 | See Source »

...many dispensaries to allow, whether they'll be nonprofit or private, for which diseases prescription pot will be available, where the stuff will be grown. He leans toward more restrictive implementation, knowing that any legal-weed law can be struck down by future governments. "The voters approved the medical use of marijuana, not the recreational use of marijuana," he says. "The more professional and controlled and evidence-based our system is, the greater likelihood it will be sustained going forward...

Author: /time Magazine | Title: Medical Marijuana Finally Heads for D.C. | 1/27/2010 | See Source »

...voting bloc of recreational weed smokers is likely to be even less enthusiastic if Catania gets his way. "I do not see this as the camel's nose under the tent to the broad legalization of marijuana, nor the recreational use, nor do I ever envision supporting the use of marijuana for anxiety or hangnails," he says. "This is for people who are profoundly sick...

Author: /time Magazine | Title: Medical Marijuana Finally Heads for D.C. | 1/27/2010 | See Source »

...Use national security to strengthen your hand at home. Obama needs to frame future foreign policy successes in way that gives him leverage with voters and Congress. Reagan deployed his standing as a successful Cold War President to rally the public around him, and then used higher approval ratings to advance his agenda. Obama is governing in a more partisan era, but he can break the bonds of a divided Washington to turn his domestic agenda into a patriotic one - by pushing for energy independence, for example - rather than one side of a left-right slugfest...

Author: /time Magazine | Title: What Obama Can Learn from Reagan | 1/27/2010 | See Source »

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