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...Monuments Men stayed in Europe for six years after the war to finish their work. How many works did they eventually return? By 1951 they had restituted more than 5 million objects. That includes thousands of church bells the Nazis were going to melt down and use for war materials. The main mine that contained many of the works destined for Hitler's Führermuseum had more than 10,000 paintings, sculptures and other works of art. It's unimaginable. We're not talking about average things, but sculptures by Michelangelo and paintings by Vermeer...

Author: /time Magazine | Title: Saving Europe's Art from the Nazis | 8/25/2009 | See Source »

...TIME's World War II covers...

Author: /time Magazine | Title: Saving Europe's Art from the Nazis | 8/25/2009 | See Source »

...original Trabi was intended to be East Germany's answer to the Volkswagen Beetle, the symbol of West Germany's economic miracle and rise after World War II. But the Trabi was more a mockery. It had a plastic body and was driven by a two-stroke engine that ran on a cocktail of oil and gasoline that emitted a putrid stench as it rolled with a characteristic clackety-clack along East German roads. (Read about the Beetle in TIME's most important cars of all time...

Author: /time Magazine | Title: Is the Trabi, East Germany's Clunker, On the Comeback? | 8/25/2009 | See Source »

...hard for many Americans to believe, but the United States' checkbook hasn't always been in the red. Aside from periods of war or economic turmoil, the federal budget was actually in surplus for most of the nation's first 200 years. The government incurred considerable debt during the Civil War and the Spanish-American War but paid it off by the early 1900s. Between 1901 and 1916, the budget was almost always balanced. But then came the Great Depression followed closely by World War II, which resulted in a long succession of deficits that caused the federal debt...

Author: /time Magazine | Title: The U.S. Deficit | 8/25/2009 | See Source »

...federal government's spending oscillated over the subsequent decades, running a surplus in the good years and a deficit in the bad ones, until the early 1980s. President Ronald Reagan's economic and foreign policies - tax cuts combined with substantial increases in Cold War-era defense spending - led to a string of deficits that averaged $206 billion a year between 1983 and 1992. The balanced-budget acts of 1990 and 1997 helped reverse this unprecedented level of peacetime spending, and in 1998 the U.S. recorded its first budget surplus in nearly 20 years...

Author: /time Magazine | Title: The U.S. Deficit | 8/25/2009 | See Source »

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