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Adding to the management challenges ahead is the fact that Obama and Emanuel have brought into the White House an unusually high-octane team. It includes such muscular operatives as Summers and National Security Adviser Jim Jones, a retired Marine general. In addition, the Administration will have new power centers exerting their own gravitational pull. Obama has established a White House office for health reform, to be overseen by incoming Health and Human Services Secretary Tom Daschle, and one for energy and climate-change policy, headed by former Environmental Protection Agency chief Carol Browner. It's still a bit unclear...

Author: /time Magazine | Title: An Enforcer Named Emanuel | 1/21/2009 | See Source »

...these types of export-at-all-costs policies that some economists worry will cause a resurgence of 1930s-style antitrade policies. Jim Walker, an economist at independent research firm Asianomics in Hong Kong, says "the big danger" in Asia is a "round of competitive devaluations" of Asian currencies that sparks protectionism in the West. Walker fears that China, in its efforts to support growth and the millions employed in export factories, will eventually allow the yuan to depreciate, forcing all other Asian countries to do the same to keep their exports competitive. "If conditions do worsen, then every lever...

Author: /time Magazine | Title: The Threat of a Global Trade War | 1/19/2009 | See Source »

Visitors loitering in the hotel's marbled lobby are easily reminded of the greats that have passed through. But it's only at the signature round bar that customers can truly get a feel for history. Veteran bartender Jim Hewes is the creative force behind the presidential drink menu, appropriately pairing different drinks with past presidents. For Calvin Coolidge, it's cranberry juice and soda, a rather gentle, Puritan tonic. There's the Tanqueray martini for Roosevelt, a Beefeater martini for Kennedy, Madeira wine for founding father George Washington, and now, the Obama Shake for the President-elect. Colored...

Author: /time Magazine | Title: A D.C. Club Guide for Inaugural Weekend | 1/17/2009 | See Source »

...discuss his plans, though some of the columnists have not been so coy. The news "hit like a chunk of loose viaduct," wrote sports columnist Art Thiel. "I expected to react to this somber state of affairs by getting drunk, but I haven't," wrote fellow sports columnist Jim Moore. Editorial cartoonist David Horsey, who, as McCumber puts it, legally owns two Pulitzers, observed that owning a newspaper is "quite suddenly a sucker...

Author: /time Magazine | Title: A Seattle Newspaper Writes Its Own Obituary | 1/15/2009 | See Source »

...want to buy stupid stuff. "We keep hearing we need to spend more. On what?" a transition aide asked. Obama's latest economic report predicted at least three more years of fairly high unemployment even if the stimulus succeeds, so speed can't be the only criterion. Democrat Jim Oberstar of Minnesota, chairman of the House Committee on Transportation and Infrastructure, has suggested that shovel-ready should apply to projects that can begin within a year, not just 90 days. This would give a real boost to mass transit; a two-year window would leave even more time to make...

Author: /time Magazine | Title: How to Spend a Trillion Dollars | 1/15/2009 | See Source »

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