The New York Times July 7, 2011
ON May 16, the United States hit its legal debt limit of $14.3 trillion. Unless that limit is raised, the Treasury will, on Aug. 2, be unable to pay its bills. It will then have to either stop spending money on government programs, or default on paying the nation’s creditors.
The White House and Congressional Republicans agree in principle that the debt ceiling needs to be raised, but they are at an impasse on how to constrain the deficit’s rapid growth. Meanwhile, some people have theorized that there’s a way to get around the debt limit.
Several law professors and senators, and even Treasury Secretary Timothy F. Geithner, have suggested that section 4 of the 14th Amendment, known as the public debt clause, might provide a silver bullet. This provision states that “the validity of the public debt of the United States, authorized by law ... shall not be questioned.” They argue that the public debt clause is sufficient to nullify the ceiling — or can be used to permit the president to borrow money without regard to the ceiling.
Both approaches provide the false hope of a legal answer that obviates the need for a real solution.
2. How Seawater Can Power the World
The New York Times July 10, 2011
DEBATE about America’s energy supply is heating up: gas prices are rising, ethanol is under attack and nuclear power continues to struggle in the shadow of the Fukushima disaster in Japan.
But an abundant, safe and clean energy source once thought to be the stuff of science fiction is closer than many realize: nuclear fusion. Making it a reality, however, will take significant investment from the government at a time when spending on scientific research is under threat.
Harnessing nuclear fusion, the energy that powers the sun and the stars, has been a goal of physicists worldwide since the 1950s. It is essentially inexhaustible and it can be created using hydrogen isotopes — chemical cousins of hydrogen, like deuterium — that can readily be extracted from seawater.
Fusion energy is created by fusing two atomic nuclei, in the process converting mass to energy, which appears as heat. The heat, as in conventional nuclear fission reactors, turns water into steam, which drives turbines to generate electricity, or is used to produce fuels for transportation or other uses.
Fusion energy generates zero greenhouse gases. It offers no chance of a catastrophic accident. It can be available to all nations, relying only on the Earth’s oceans. When commercialized, it will transform the world’s energy supply.
CNN July 11, 2011
He entered the NBA with a promise like few others. Yao Ming brought a rare combination of talent and the ability to unlock a massive new market for the sport. Nine years later, reports say Yao is set to retire. And despite his best efforts, the sad truth is his career wasn’t what it could have been.
Yao could have been the NBA’s next great center. The NBA has a long history of dominant big men leading their teams to the title, from George Mikan in the 50s, to Bill Russell, Wilt Chamberlain, Kareem Abdul-Jabaar, Hakeem Olajuwon, and Shaquille O’Neal. Yao was drafted at the height of Shaq's dominance in 2002, but he had the tools to take him on.
Shaq’s strength and weight made him an unstoppable force in front of the basket. But Yao’s ability to shoot from further out forced Shaq to leave his comfort zone and chase him; physically moving a seven foot tall obstacle from the hoop. And Yao was a full four inches taller. In their eagerly awaited first meeting, Yao demonstrated his height advantage by blocking Shaq twice in the first few minutes. The Rockets won that game, and Yao had arrived.
But success didn’t quite follow.
4. Australia PM unveils carbon tax targeting biggest 500 polluters
AP July 11, 2011
SYDNEY -- Australia will force its 500 worst polluters to pay AU$23 (US$25) for every ton of carbon dioxide they emit, with the government promising to compensate households hit with higher power bills under a plan to reduce greenhouse gas emissions unveiled Sunday.
Prime Minister Julia Gillard sought to reassure wary Australians that the deeply unpopular carbon tax will only cause a minority of households to pay more and insisted it is critical to helping the country lower its massive carbon emissions. Australia is one of the world's worst greenhouse gas polluters, due to its heavy reliance on coal for electricity.
“We generate more carbon pollution per head than any other country in the developed world,” Gillard told reporters in Canberra as she released details of the tax, which will go into effect on July 1, 2012. “We've got a lot of work to do to hold our place in the race that the world is running.”
The government hopes businesses affected by the tax will seek out clean energy alternatives to reduce their bills. The affected companies will have to pay AU$23 per metric ton of carbon, with the price rising 2.5 percent a year until 2015, when the plan will move to a market-based emissions trading scheme.
