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...into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went to oil companies instead of the government. But he forgets that oil companies do not have control over their prices. If they did, then why would oil prices ever drop? Kinsley's logic does not follow. Ryan Young and Drew Tidwell, Competitive Enterprise Institute, WASHINGTON...

Author: /time Magazine | Title: The List Issue: Best and Worst | 1/7/2009 | See Source »

More than a few eyebrows went up when word broke that Leon Panetta would be President-Elect Barack Obama's pick to be the next director of the Central Intelligence Agency. Panetta has no significant intelligence experience and is known around the capital mainly for his budgetary prowess, bipartisanship and management skills. While these are all important traits for a spymaster, so is some experience with actual spycraft: backlash to Panetta started immediately, with Senate intelligence committee chair Dianne Feinstein noting that she believed "the agency is best-served by having an intelligence professional in charge at this time...

Author: /time Magazine | Title: CIA Director: Leon Panetta | 1/6/2009 | See Source »

...flexible and wants to get the job done. He always asked incisive questions, and knows what went wrong in Iraq." - on Robert Gates, when he replaced Donald Rumsfeld as Secretary of Defense, San Jose Mercury News...

Author: /time Magazine | Title: CIA Director: Leon Panetta | 1/6/2009 | See Source »

Sometimes Congress sees fit to award a week or month to a particular topic. Such events are often meant to raise awareness for serious illnesses like diabetes, although sometimes, they are used to raise awareness of, say, the plumbing industry. Really lucky causes might get an entire year: 2007 went to the American Society of Agronomy, on the occasion of its 100th anniversary. Other resolutions have marked seemingly arbitrary anniversaries, as in the 2008 decision to herald the 63rd birthday of Texas's Big Bend National Park...

Author: /time Magazine | Title: Congressional Resolutions | 1/6/2009 | See Source »

...deal with my missing luggage, I went shopping in the capital and picked out new clothes and toiletries. Though the selection was somewhat limited, I ended up with a pair of rhinestone-studded jeans and a pink tracksuit. The fact that our security was willing to let me peruse the shops was a marked change from months before. (See pictures of the revival in Iraq's street life...

Author: /time Magazine | Title: Baghdad Bag Claim: A (Happy) Tale of Lost Luggage | 1/5/2009 | See Source »

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