Word: cash
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...union agrees to a new contract. So this approach will be slower, more litigious and less inspiring. In other words, it will be all stick and no carrot. It's hard to say if anyone else would have been able to persuade the union to trade away tenure for cash bonuses, but Rhee's sometimes dismissive attitude made it harder for some teachers to trust...
Obama no longer has the luxury of waiting. In the past two weeks alone, General Motors announced it has only three months of cash left before it will run out of money, and the Federal Government was forced to rush to halt a shareholder run on the giant banking conglomerate Citigroup. Unemployment has risen to 6.5% and is expected to hit 8% by next year, if not higher. Some economists predict that gross domestic product will shrink at a 5% annual pace in the fourth quarter and perhaps 3% or 4% in the first three months of next year...
...cuts: The middle class will get a tax cut quickly, say several Democrats familiar with the planning. There may also be a payroll tax break to speed some extra cash to all. Obama may even postpone his plans to roll back the Bush tax cuts for the wealthiest Americans and delay any tax hike on top-tier earners until 2011, when the cuts expire under current...
...universal health coverage into a hurried-up economic-stimulus plan, transition aides say he will direct billions toward the health-care sector immediately. Some will go to a massive tech upgrade for an industry that in many ways is still paper-based. More urgent is the need to funnel cash directly from Washington to states so that local legislators don't rush to cut spending on Medicaid as state tax receipts dry up in the recession. "Absent some relief there, you'll get Medicaid budgets slashed," says a senior Democratic aide familiar with the plans...
...stock market may be down 40% this year, but your portfolio has other assets too - or at least it should. Balanced funds that hold bonds and cash along with stocks are down just 29%, according to mutual-fund tracker Morningstar. And many retirees looking to minimize risk wisely hold a smaller percentage of stocks than the average balanced fund (and also may own insured bank CDs). Which means a more typical experience for them is a 20% loss, says Gregg Fisher, president of Gerstein Fisher, a financial adviser in New York City. That's not fun, but it's nowhere...