Because Congress is widely expected to change the law before year end to extend at least some of the tax cuts and reduce the spending cuts, the committee also projects that the debt will reach 89% of GDP by 2020 under more realistic assumptions.

WSJ: Obama Blasts GOP Budget as 'Trojan Horse'

At the same time, business needs to extend some social-insurance schemes to cover non-regular workers, and improve conditions for non-regular workers with such things as better child-care provision and more training.

ECONOMIST: Business in Japan

"If you think of the genetic diversity and the wide variety of cancer that were found, the simplest way I can imagine to extend the lives of the mice is to retard at least some important aspects of aging, " he says.

FORBES: Longevity

After the Senate passed a bill to extend some of the tax hikes that are scheduled to take effect at the beginning of the year, the action has moved to the House of Representatives, where Republicans are warning that they might reject the Senate proposal.

FORBES: The GOP House Is Dysfunctional By Design

Jagdish Bhagwati, an economics professor at Columbia University, wants developing countries everywhere to extend their powers to tax their expatriates, in order to reclaim some of the value created abroad by highly skilled emigrants.

ECONOMIST: Emigration