Word: plan
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...arrogant. Geithner is a smoother, harder-to-read operator who gets along well with everyone. Of the two, Summers is the one to watch. He is expected to do for the economy what strong-minded and ambitious National Security Advisers like Henry Kissinger have done for foreign policy: plan it, set it and control...
...historic. Unwilling to bide his time until President Bush packs up his things and leaves town, Obama simply took control of economic policy on Nov. 23, when he unveiled an economic team noted for its brains and experience and asked it to come up with a massive economic-stimulus 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...
...president-elect has already asked his economic team to consult with Congress, the current administration, and the Federal Reserve on economic developments over the next two months, to brief him daily, and to issue recommendations for a recovery plan...
...Even coordinating national stimulus plans has consisted of little more than leaders agreeing to disagree. On Nov. 24, for example, Britain announced an eye-popping $30 billion plan that aims to borrow and spend its way out of the worst recession to hit the nation in 17 years. Wide-ranging measures include offering aid to homeowners and small businesses, and cutting value-added tax (VAT) 2.5 points, to 15%, to stimulate consumer spending...
...reaction to the plan was swift - and far from the general applause Britain's leaders received for their bank-bailout plans just six weeks ago. "A general decrease in value-added tax is perhaps the answer for some countries, but for Germany and France it is not," said German Chancellor Angela Merkel, following a meeting with French President Nicolas Sarkozy on a common European response to the economic downturn. Asked Sarkozy: "Should we use up our available room for maneuver on reducing prices when prices are already falling...