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...Gist: Kudos to California! On July 20, the Golden State finally cobbled together a plan to bridge its $26.3 billion budget gap, leaving North Carolina, Connecticut and Pennsylvania as the only states that have not yet reached an agreement. But before lawmakers start slapping backs, they should know that next year's budget crunch could be even tighter. Thanks to dwindling revenues, paltry collection rates and the economic storm soaking taxpayers, the $142.6 billion budget shortfall that states faced during the 2009 fiscal year is but one hurdle in a longer financial gauntlet, according to this bleak assessment from...

Author: /time Magazine | Title: Why States' Budget Woes Won't End Soon | 7/23/2009 | See Source »

Flic Everett, 38, journalist, author and boutique owner I'd start with morning coffee and a homemade cake at Bread & Butter, tel: (44) 7944 607405, a tiny vintage-style café in the Northern Quarter. Then I'd jump in a cab down to Manchester Museum, tel: (44-161) 275 2634. It has a mammal gallery, an Egyptian collection and dinosaur bones, all housed in Gothic Victorian splendor. Afterward, I'd head to the Lowry Hotel, tel: (44-161) 827 4000, just across the river in Salford for afternoon tea on the River Bar terrace. They serve pastel-colored macaroons...

Author: /time Magazine | Title: A Perfect Day in ...Manchester | 7/23/2009 | See Source »

...country's penal code, special units to combat corruption and organized crime and constitutional amendments guaranteeing an independent judicial system. "Although indications of fraud and corruption (including collusion with organized crime) are abundant in the public domain, law-enforcement agencies seem reluctant to take the initiative to start an investigation," it says. "What is still missing is sufficient political commitment for broader initiatives which could form a more decisive, strategic approach...

Author: /time Magazine | Title: Could the E.U. Lose Bulgaria to Russia? | 7/22/2009 | See Source »

...group Transparency International. She says Bulgaria has long been saddled with a non-functioning judiciary and a lack of political will to fight corruption. "We hope that the new government will be able to take the signal from Brussels to radically change the system," she adds. "It needs to start cleaning things up so that serious sentences can be enforced against corruption and organized crime."(Read "Europe Tries to Break Its Russian Gas Habit...

Author: /time Magazine | Title: Could the E.U. Lose Bulgaria to Russia? | 7/22/2009 | See Source »

...proliferation treaty], on climate change, the attempt is to see what India can do. But the U.S.'s own policies in this regard have been high on rhetoric and low on action." Ever since India and the U.S. first decided to put aside Cold War-era mistrust and start taking baby steps toward a friendship powered by a shared distrust of China and a common commitment to democracy, skeptics have warned that mutual interests do not naturally coalesce. (See pictures of the Cold War's influence...

Author: /time Magazine | Title: Clinton's Trip to India: What's the Takeaway? | 7/21/2009 | See Source »

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