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...peddled as a cure for everything from headaches to deafness. Spurred by demand for lamp fuel as whale blubber grew scarce, derricks popped up all over Pennsylvania's oil region in the 1860s, although subsequent overproduction drove prices so far down that at one point, a wooden barrel was worth twice as much as the oil it contained, according to Daniel Yergin's definitive tome on oil, The Prize...

Author: /time Magazine | Title: The Oil Barrel | 8/26/2009 | See Source »

...Administration had rejected Senate Finance Committee chairman Max Baucus' idea to tax some health-care benefits because it would raise taxes on the middle class. When Baucus' panel came up $320 billion short of paying for its proposed reforms, Kerry suggested taxing insurers that offer high-end plans - those worth more than $9,000 a year for individuals or $25,000 a year for families - in order to raise $145 billion. It was an idea that he and then New Jersey Senator Bill Bradley, among others, had pioneered in 1994. When Kerry dusted it off this summer, unions balked, since...

Author: /time Magazine | Title: John Kerry: Back in the Hunt | 8/26/2009 | See Source »

...been told that the brain tumor that Sen. Kennedy has - because he's 77 years old - would not be treated the way it's treated in the United States." This would be like saying, he went on, that "when somebody gets to be 85 their life is worth less than when you're 35, and you pull the tubes on them...

Author: /time Magazine | Title: The Lessons of His Dying | 8/26/2009 | See Source »

...best medical care money (and a good insurance policy) can buy," he wrote in Newsweek - and called for the day when all Americans could expect the same. But as a matter of public policy, as opposed to private choice, was the cost and ordeal of Kennedy's treatment worth the extra month of life he won beyond the 14-month average survival time for patients with his diagnosis? And who do we want making that judgment...

Author: /time Magazine | Title: The Lessons of His Dying | 8/26/2009 | See Source »

...housing boom, when her three-bedroom Miami Gardens house was appraised at what she now acknowledges was an unrealistic $294,000, Milligan says she took out adjustable-rate home-equity loans to help with medical bills. They raised her mortgage principal to far more than the house is now worth in the housing bust. Her mortgage interest has since adjusted up sharply, and she's saddled with monthly payments that eat up more than 50% of her income, and which she has already fallen behind...

Author: /time Magazine | Title: How One City May Punish Banks for Foreclosures | 8/25/2009 | See Source »

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