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...while government number crunchers are fairly accurate when predicting revenues over the next year or two, they are notoriously unreliable six or more years down the line, when more than two-thirds of the Bush cuts would take effect. And if they were off by less than 2% of GDP five years from now, the surplus would be all but wiped out. "It is imperative that we protect the surpluses," says Maine Republican Olympia Snowe, a trigger proponent who sits on the Finance and Budget committees...

Author: /time Magazine | Title: Jamming The Trigger | 3/19/2001 | See Source »

...hostile to the sorts of multilateral, institution-building initiatives that come naturally to close neighbors heavily invested in the long march of European union. Mainly because of Republican opposition, Washington owes back dues of some $1.65 billion to the U.N. and has shrunk its development aid to 0.11% of gdp, about one-third of the rich-country average, despite record U.S. budget surpluses. It has stayed outside many important recent treaties that Europe endorses: the land mine convention, the International Criminal Court, the comprehensive test ban-and Bush sees no reason to change any of that. U.S. opposition scuppered recent...

Author: /time Magazine | Title: What Kind of Allies? | 3/5/2001 | See Source »

...Today they still live with no state, no capital in Jerusalem. Israeli forces still occupy much of the West Bank and Gaza Strip, requiring Palestinians continually to move through humiliating military checkpoints. Jewish settlements housing 180,000 Israelis dot the territories. Palestinians have seen economic decline, while Israel's GDP initially took...

Author: /time Magazine | Title: Waiting For History To Happen | 2/26/2001 | See Source »

...have to be some real problems." A big one associated with the spending policy is that Japanese government debt by the end of 2001 will amount to around 150% of the country's total economic output, according to Courtis. (U.S. gross federal debt, by contrast, is about half the GDP.) Average Japanese consumers, meanwhile, are still under pressure. Their home value has fallen, their stock portfolio is a disaster, and their life insurer may be about to go bust. In other words, Japanese consumers are not looking to spend. Japan's demographics will help neither consumption patterns nor the search...

Author: /time Magazine | Title: TIME Global Business Report: Who Will Drive... The World Economy? | 2/19/2001 | See Source »

...years ago, W magazine named him "one of the hottest catches on the Washington social scene" and "an unusually likable policy wonk." Campbell, 30, has been linked to Joseph Fiennes, Robert De Niro and U2's Adam Clayton, among others. She is also known to cause rapid GDP growth and demand-pull inflation...

Author: /time Magazine | Title: People: Feb. 12, 2001 | 2/12/2001 | See Source »

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