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...plan, in the hopes of rushing it through Congress and readying it for him to sign by the time he is sworn in. The next day, he launched a pre-emptive strike against the bloated federal budget, noting that some recipients of federal farm subsidies are millionaires who no longer need relief. Taken together, his bold moves heralded the fastest start by a President-elect in memory and one of the most dramatic takeovers ever. "I think it is very important for the American people to have clarity that we don't intend to stumble into the next Administration," Obama...

Author: /time Magazine | Title: Jump-Starting the Obama Presidency | 11/26/2008 | See Source »

...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...

Author: /time Magazine | Title: Jump-Starting the Obama Presidency | 11/26/2008 | See Source »

...very few people who, when Larry got on a roll, would sometimes take him up short and say, 'Stop. Rethink that position,'" says Sexton. "And do it in a way that caused even Larry to stop and think and even occasionally change his view." And Geithner is no longer inclined to see himself as Summers' aide. "Tim is not taking this job to be subordinate," says a person familiar with the friendship...

Author: /time Magazine | Title: Jump-Starting the Obama Presidency | 11/26/2008 | See Source »

...Development Goals: its promises to the global billions of poor and disenfranchised. These people are waiting for us to meet our deadline by 2015. They are waiting for us to keep our promises. Let's get our promises back on track so they don't have to wait any longer...

Author: /time Magazine | Title: Person of the Year. | 11/26/2008 | See Source »

...There is no longer an American Dream, at least for the moment.' VICTOR CLARK, director of a Tijuana-based human-rights organization that works with illegal migrants, on the 42% drop in Mexican emigration over the past two years...

Author: /time Magazine | Title: Verbatim | 11/26/2008 | See Source »

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