Is the crisis in Japan an economic disaster?Since World War II, Japan has developed a very advanced and resilient economy. That means that when this crisis is over, it's unlikely that there will be serious long-term economic impacts.
By 2006, most of the steel mills in Youngstown, Ohio, had been gone for decades. The population was shrinking year after year. So the city launched a bold plan to redeem itself.The plan: Quit trying to redeem itself.Before 2006 and the bold plan, there were other ideas.
Reading, Pa., was once so well off that it had a Monopoly card named after it: Reading Railroad.But the city has fallen on tough times. Every year, the people who run Reading struggle to come up with millions of dollars to patch holes in the budget.A few years back, the city sold a whole lake.
Few people would think that when U.S. lawmakers visit troops in Afghanistan, they're seeing the place through the eyes of the average grunt. But the idea of using psychological-warfare techniques to influence senators and other VIPs seems crazy — and in fact, it's illegal.
The headline is "CBO Sees Record Budget Gap At Nearly $1.5 Trillion."As the Associated Press writes, "new budget estimates released Wednesday predict the government's deficit will hit almost $1.5 trillion this year, a new record.