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...reputation for getting its numbers right, estimates that Obama's tax proposals would increase the deficit by up to $3.5 trillion over the next decade, while McCain's would increase it by up to $8.6 trillion. That doesn't count possible spending cuts, but even McCain's proposed "freeze" wouldn't come anywhere near to closing that hole...

Author: /time Magazine | Title: Time to Pay the Price | 10/31/2008 | See Source »

...that wouldn't be the end of it. In November 2002, during his first stint on the Fed - as a mere member of the board, not the chairman - Bernanke gave a now somewhat infamous speech about what central banks could do to fend off deflation even after short-term interest rates hit zero. The Fed could target longer-term interest rates, he argued. It could buy private securities, not just Treasuries. It could, figuratively speaking, drop money out of helicopters...

Author: /time Magazine | Title: What the Fed's New Interest-Rate Cut Really Means | 10/30/2008 | See Source »

...Power and Passion If key lacks intensity, that probably wouldn't bother many New Zealanders. While they take their politics seriously here - voter turnout in general elections has averaged nearly 90% since 1960, up there with the highest rates in the world among countries where voting isn't compulsory - they're also politically phlegmatic, saving their strongest emotions for more important matters, like rugby...

Author: /time Magazine | Title: Taking a Step to the Right? | 10/30/2008 | See Source »

...kilometres to the north, in a roadside stall off State Highway 1, Adrianne Rochford contemplates the election while selling crayfish and mussels to passing tourists. "It's a tricky one," says Rochford, who's voted Labour most of her life. Yes, she's heard praise for Key and wouldn't mind seeing him in the Beehive. But she adds: "Who's it going to help?" New Zealanders would have a variety of answers to that question. But in many cases, it's not help exactly that they want. More than anything, come Nov. 8, they're looking for something...

Author: /time Magazine | Title: Taking a Step to the Right? | 10/30/2008 | See Source »

...find. His desire to leave a mark on history - by signing a Democratic energy bill or health-care-reform bill, say - would clash with his gut-level identification with the gop. Washington veterans agree that McCain's conservative ideas for tax cuts and health-care reform wouldn't stand a chance in a Democratic Congress. But he might enlist enough swing-district Democrats - whose hold on their seats is tenuous - to join congressional Republicans in a grand compromise between the spenders on Capitol Hill and the tax cutters in the White House...

Author: /time Magazine | Title: How Obama and McCain Would Lead | 10/30/2008 | See Source »

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