Word: reformations
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...with senior White House staff, finished his daily briefing to President Obama, visited both houses of Congress to discuss the stimulus plan and pulled aside a few Senators to lobby them personally. In days prior, he helped lead meetings on the banking crisis, the next federal budget, health-care reform, changes to Medicare and Social Security and a pending reregulation of the financial markets. The litany of crises would give an army of economists the shakes, but it doesn't seem to faze the 54-year-old Summers. "It's part of what makes it a challenging, exciting, interesting, daunting...
Since returning to Washington, he has expanded his turf so that it touches on nearly every area of domestic and international policy, from health-care reform to trade. Obama has elevated Summers to a level on par with the President's daily intelligence briefers, asking him to orchestrate work-ups each morning on the deteriorating economy. Robert Gibbs, the White House spokesman, refers to him in briefings as "Dr. Summers," with a deference that suggests Summers has powers out of science fiction. Stopped in a White House hallway in late January, David Axelrod, Obama's closest political aide, speaks with...
...then, perhaps as early as March, they'll launch their biggest lift with the beginnings of a plan to reform Social Security and Medicare, the two entitlement programs that, even before the economy collapsed, were threatening the Treasury with bankruptcy. By any standard, it is a massive three-month agenda fraught with political risk. The key to getting it all done, Summers says, is entering into a "compact" with the country "that this isn't just government as usual throwing money at things." When Obama unveils his annual budget in late February or March, Summers promises that the President...
...that front, Republicans could come to Obama's rescue. Senate minority leader Mitch McConnell has told Obama in person that his party favors entitlement reform and would work for passage if both parties shared the risk. Republicans have always been keener than Democrats about curbing the automatic-spending programs, but the depth of the GOP's appetite for reform is uncertain because Congress has not taken a real vote on entitlement cuts since the early 1980s...
...article published in an official journal on Jan. 18, Jia Qinglin, China's fourth-highest official, warned that the country should avoid multiparty systems, separation of political powers and other "erroneous ideological interferences." And in December President Hu Jintao warned the country to "not waver" in implementing economic reform, a remark that was interpreted as meaning "avoid political debate...