In this issue: COMMENT "Decline and Fall", by David Remnick: Are the Republicans serious? THE FINANCIAL PAGE "The Deleveraging Myth", by James Surowiecki: High debt, low demand, and a slow economy. A REPORTER AT LARGE "Three Trials for Murder", by Nicholas Schmidle: In the name of justice, did the military sidestep double jeopardy? FICTION "Miracle Polish", by Steve Millhauser. THE CURRENT CINEMA "The Man in Charge", by David Denby: A review of J. Edgar.