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President Obama may have left jaws hanging with his proposed $3.8 trillion budget for the fiscal year 2011 - which forecasts a stunning $1.6 trillion deficit - but he's hardly the only member of the "spend now, pay later" club. Across Europe, governments have gotten so used to embracing debt during economically tight times such as these that some experts are starting to wonder if they will get back to viable deficit levels - much less balanced budgets - anytime soon...

Author: /time Magazine | Title: The U.S. Is Not Alone — Europe's in Debt Too | 2/2/2010 | See Source »

...Instead, it will become a shopper, and leave the designing and metal-cutting to the private sector. To an extent, this has always been the case. The first Americans to orbit the earth blasted off aboard Atlas and Titan rockets - both built by commercial companies as missile launchers and later adapted to human flight. The Saturn moon rockets were the first designed and built exclusively for humans, but even those were contracted out. Still, it was NASA minds that drove the designs and the result was what might have been the finest boosters ever built. (Watch a video...

Author: /time Magazine | Title: No Liftoff: Obama's Plan Grounds NASA | 2/2/2010 | See Source »

...itself seems possessed by the love of which she sings. The incredible standard of the songwriting is revealed by the constantly shifting references to an “It,” which appears at the beginning as “a vision, complete illusion,” but later becomes, “a sickness, a manic weakness.” The song addresses the intense, overwhelming excitement of falling in love, like a pleasant but tortuous emotion that constantly picks up momentum...

Author: By Kelsey C. Nowell, CONTRIBUTING WRITER | Title: Beach House | 2/2/2010 | See Source »

After this high, despair comes a couple of songs later in “Walk in the Park,” where melancholy is consoled by Scally’s dominant keyboard melody. The lyrics have a great internal rhyme scheme—“The face that you saw in the door isn’t looking at you anymore / The name that you call in its place isn’t waiting for your embrace / The world that you love to behold cannot hold you anymore”—and the simple image of walking...

Author: By Kelsey C. Nowell, CONTRIBUTING WRITER | Title: Beach House | 2/2/2010 | See Source »

...however, there is another question at stake in the Concorde trial: Should companies even face criminal charges after their planes crash? Several U.S. safety officials say prosecuting and jailing airline employees could make them too afraid to report maintenance or design flaws, for fear that they might be blamed later for accidents. "If airlines were protected from criminal prosecution, those fears would dissipate," says Michael Barr, an aviation-accident specialist and instructor at the University of Southern California. "You have a whole lot of people who believe that accidents are just that - accidents," he says. That is a difficult argument...

Author: /time Magazine | Title: Fault of the Concorde: An Icon's Day in Court | 2/1/2010 | See Source »

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