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...Treasuries as a safe haven and poured money into them, driving down interest rates. Officials in Washington spared no expense in battling the crisis. The result is a deficit of unprecedented size but with no perceptible pressure from financial markets to reduce it. No pressure so far, at least. The federal debt, at $7.6 trillion, is now above 50% of GDP and rising. The government faces commitments to Social Security and Medicare that dwarf that figure. Republican congressional leaders have decided they care about deficits again - and seem to be making headway in public opinion. The prevailing winds will shift...

Author: /time Magazine | Title: America and Its Deficits: Are We Broke Yet? | 9/14/2009 | See Source »

...crisscrossing the country, talking to teachers, teachers' unions, school boards and teachers' colleges about the need to shake things up and change the way they all do business. Finn says Duncan's courage in speaking truth to the educational establishment is his greatest achievement, at least...

Author: /time Magazine | Title: Can Arne Duncan (And $5 Billion) Fix America's Schools? | 9/14/2009 | See Source »

They say there are parts of the country where people have never heard of financial sector recruiting. Cambridge isn't one of those places: or at least, not the stretch of brick sidewalk between FlyBy's lair on Plympton Street and the stately Sheraton Commander, where we were due to have our first date with the nation's economic destinymakers. Wearing shirts and ties and walking along Garden Street beside a be-suited Industry Expert, retained specially by FlyBy for the event, our blogging correspondents found themselves subject to the once-over of a slick-looking Asian man wearing...

Author: By Christian B. Flow and Joshua J. Kearney | Title: CRIMSON CAREERS: The Blackstone Group — 'Nowhere To Hide' | 9/14/2009 | See Source »

...sink-holes around the gas main, which had allowed the gas to escape from a pre-existing crack. The gas then likely followed the newly-installed water main that feeds Old Quincy’s sprinkler system into the building. “The gas follows the path of least resistance,” Murphy said. “The soil around the recent excavation [for the water main] probably isn’t as compact as the surrounding soil.” Despite the leak, the House’s Field Day celebrations and opening convocations continued...

Author: By Elias J. Groll, CRIMSON STAFF WRITER | Title: Gas Leak Causes Dorm Evacuation | 9/14/2009 | See Source »

...were to pick the least likely Senator to help Barack Obama win a major legislative victory, Alabama's Richard Shelby, the ranking Republican on the Senate Banking Committee, would be a fine choice. Once a "boll weevil" Democratic opponent of Bill Clinton, Shelby became a Republican in November 1994, helping the GOP cement its hold on the Senate at a crucial moment. He has had a near perfect record of conservatism on social and foreign-policy issues since then. The tall, drawling former prosecutor questioned Obama's citizenship this past February, and when Treasury Secretary Tim Geithner first unveiled...

Author: /time Magazine | Title: On Finance Reform, Obama's Unlikely Partner | 9/14/2009 | See Source »

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