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The Administration says that the budget deficit for the current fiscal year will be 5% higher than previously forecast which will puts the number above $1.8 trillion. The spread between the old number and the new one is $89 billion. The White House figure now matches the estimate of the...

Author: /time Magazine | Title: Forgiving a Mistake in the Federal Budget | 5/12/2009 | See Source »

It's a blow to a market that was one of the world's most dynamic in recent years. Offering businesses a dip into London's deep investor pool, but with a light regulatory burden, AIM had lured 1,700 companies from more than 30 countries at its peak in...

Author: /time Magazine | Title: London's Small-Stock-Market Blues | 5/12/2009 | See Source »

Gates took pains on Monday to avoid criticizing McKiernan. He told the four-star general that his Army career was effectively over during a face-to-face meeting in Afghanistan last week. "This was a kick in the teeth, but McKiernan took it extraordinarily well," a senior Pentagon official said...

Author: /time Magazine | Title: Why the Pentagon Axed Its Afghanistan Warlord | 5/12/2009 | See Source »

He was one of the good guys in the game. But his Pistons were, in fact, very bad. Isiah Thomas manipulated his mates. Bill Laimbeer whined, flopped, and was, rightfully, despised throughout the NBA. Dennis Rodman, though not yet blonde, pierced, and cross-dressing, was a dirty player. Yet Daly...

Author: /time Magazine | Title: Basketball Legend Chuck Daly (1930-2009) | 5/11/2009 | See Source »

During the British Mandate, which ended in 1948, Christians made up more than 20% of the population. Today, the figure has fallen to 2.5% in Israel and the Palestinian territories. Bethlehem-ites wanted the Pope to realize the full brunt of their confinement, so they erected a platform for the...

Author: /time Magazine | Title: Christians in Gaza Make Their Appeal to the Pope | 5/11/2009 | See Source »

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