Word: crucially
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...those who understand that the industrial-age social safety net can be improved for the information age-should not dismiss this simply because it involves Bushian private accounts. Graham is not without powerful Republican allies; he is close to Charles Grassley, the Senate Finance Committee chair whose support is crucial to any reform. In fact, if the President is serious about personal investment accounts, he should take a close look at Graham's plan...
...sacrificing rock-bottom prices. It developed its premium Finest and economy Value private-label ranges and moved into higher-margin nonfood items such as electronics, housewares and clothing (with styles that actually make the fashion pages of mass-market women's magazines). That helped Tesco accomplish a simple but crucial task: getting bodies into the store. Tesco's British grocery market share rose to an estimated 22.9% in 2004, as onetime leader Sainsbury's stagnated at 12.1%, according to Verdict Research in London. "They don't do anything brilliantly, but they do everything well," Peter East, retail director of market...
Bush's approach has met near universal opposition among Democrats, labor and liberal groups. The formidable AARP, a crucial ally in his successful fight last year for a Medicare prescription-drug program, is on the other side this time. It has already started newspaper ads warning that private accounts are simply too risky. "It's a little ironic that the AARP would be saying that, since one of the major things the AARP does is run [an investment program] for retirees," countered Treasury Secretary Snow in an interview with TIME. "The President made it clear that these plans...
...most crucial interest groups will be Wall Street. But where, precisely, is its interest? The general assumption has been that investment firms stand to gain a windfall from money that would flow into the new accounts. At the other end of the Street, the bond market could turn thumbs down on the grounds that trillions in new government borrowing would hurt the economy, raise interest rates and make the dollar suffer. But both assumptions may be overblown, financial experts say. Though University of Chicago economist Austan Goolsbee has estimated that the financial-services industry could reap $940 billion in fees...
...those who understand that the industrial-age social safety net can be improved for the information age--should not dismiss this simply because it involves Bushian private accounts. Graham is not without powerful Republican allies; he is close to Charles Grassley, the Senate Finance Committee chair whose support is crucial to any reform. In fact, if the President is serious about personal investment accounts, he should take a close look at Graham's plan...