From The Publisher: Jan. 13, 1992

Like many of our readers, a fair sample of TIME employees spent New Year's Day watching the back-to-back bowl games. We could do so confident in the knowledge that senior writer John Greenwald was hunched over his desk, writing this week's cover story on the economic gloom pervading America. Since 1981, ( John has brought diligence, common sense and level-headed analysis to TIME's coverage of a very turbulent economic period. Last week, though, he was struck that Americans feel the pain of this recession so keenly. "This one is different," he says. "The causes lie deeper. We haven't been investing in...

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