PUT ON A HAPPY FACE--FOR NOW

CONGRESS PASSES TAX CUTS AND A BALANCED BUDGET, BUT THE DEAL ISN'T DONE YET

The embattled House Speaker is always claiming to be happy when he looks just miserable. But last week, when Newt Gingrich said, "It feels very good to be here," he actually seemed to mean it. Congress had just passed bills to balance the budget for the first time in 29 years and cut taxes significantly for the first time in 16. In celebration, Gingrich wore a yellow happy-face sticker on his lapel.

The battle to reconcile House and Senate versions should wipe the smiley off his coat. The Senate's budget includes a measure raising the Medicare age from 65 to 67...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!