Word: plan
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...Plan of attack: Whatever its other challenges, the new economic team already has one huge advantage: economists from both right and left now agree that a massive stimulus measure is needed--and soon. The éminence grise of Republican economic advisers, Harvard's Martin Feldstein, raised some eyebrows in October by saying the stimulus package might need to be as big as $300 billion. Already that seems timid. Jan Hatzius, chief economist for Goldman Sachs, is telling clients he expects Obama's stimulus package to be $400 billion to $500 billion a year in order to compensate for a retrenchment...
Health care: While Obama cannot insert a fully formed, carefully drafted plan for 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...
...Obama presidency is not already in full swing, it will be before the year is out. Transition aides say a more detailed economic plan may come before Christmas; some elements could be drafted by the holidays and acted on by Congress in January. Other pieces, like health-care reform, can't be rushed. But there is a real chance that at least some of the economic jolt that Obama wants will be ready for his signature the moment he takes the oath of office. That will make for an extraordinary Inauguration Day--and mark just the start...
...events create more havoc with a retirement plan than a steep financial loss immediately preceding or following the date you quit working. Suddenly you have to square 30 years of future expenses with a greatly diminished stockpile of assets. The recent washout has been enough to send some new retirees back to work at least part time and to persuade prospective retirees to put off their plans for a few years. So, yes, times are certifiably tough for this group. I don't mean to discount that. But the news has been so bad lately that every retiree...
Freddy, who proved to be a far smarter businessman than I had expected, was way into the new plan. "It's always a good idea to come up with new products," he said. He thought, however, that we should bring the price down to 16 córdobas, which is about 80¢. But Freddy assured me that in his neighborhood, that price would still make our cupcakes obnoxious luxury items. He also suggested that we tweak the name of the shop to Freddy and Joel's Extreme Cupcakery, since Freddy claims he's better known than I am in Managua, which...