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America's military and ideological commitments grew and grew, far beyond our capacity to carry them out. And now the power bubble has popped. Militarily, savvy and savage guerrilla movements have learned how to bleed us of money, lives and limbs. Economically, resources are scarce; it's hard to pay to transform the Middle East when we're deep in debt trying to prop up the Midwest. And ideologically, democracy no longer looks like the inevitable destination of all humankind...

Author: /time Magazine | Title: The Solvency Doctrine | 1/21/2009 | See Source »

...more reluctant to use them. So will the public, which wants out of Iraq and isn't that gung ho about an indefinite stay in Afghanistan either. As a result, America's ability to threaten new military action--against Iran, for instance, or in Darfur--has dramatically declined. Our hard power isn't what it used to be--and won't be again anytime soon...

Author: /time Magazine | Title: The Solvency Doctrine | 1/21/2009 | See Source »

This would be a stark departure from the Bush Administration's us-vs.-them, neo--Cold War approach to the world, and it would be far better received. It would still be hard to achieve, given that global power is far more diffuse today than it was in the late 1940s, the last time the U.S. helped build a new international architecture for a new world. But it would be an aggressive, farsighted agenda, launched by an America strong enough to play offense again. If Obama can make U.S. foreign policy solvent, he'll do more than cut our losses...

Author: /time Magazine | Title: The Solvency Doctrine | 1/21/2009 | See Source »

...York City Job Cuts Hit Urbanites Hard Cities and their surrounding communities account for 90% of all U.S. income, according to a new report from the Conference of Mayors, which is why its forecast of huge job losses in these regions is so troubling. Leading the job cuts are New York City, which is expected to undergo more painful layoffs in the financial sector, and Los Angeles, where depressed home prices have ravaged the local economy. The report also predicts that the overall unemployment rate in metropolitan areas will rise above...

Author: /time Magazine | Title: The World | 1/21/2009 | See Source »

...peace movement. Such activists help protect Arab Bedouins from armed Jewish settlers, challenge illegal demolition of Arab houses in East Jerusalem, keep an eye out for bullying Israeli guards at Palestinian checkpoints and fight in Israeli courts against army and police excesses. But even among these die-hard believers in peace, there is a sense of exhaustion, says David Shulman, a Hebrew University professor of Tamil language and culture who is an activist of Ta'ayush, which defends Palestinians from settlers who destroy their olive groves. "We're worn out," says Shulman. "The right wing has sold to the Israeli...

Author: /time Magazine | Title: Israel's Lonesome Doves | 1/21/2009 | See Source »

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