WASHINGTON — President-elect Barack Obama plans to include about $300 billion in tax cuts for workers and businesses in his economic recovery program as he seeks to win over Congressional skeptics worried that he was too focused on government spending, advisers said Sunday.

The legislation Mr. Obama’s team is developing with Congressional Democrats will devote about 40 percent of the cost to tax cuts, including his centerpiece campaign promise to provide credits up to $500 for most workers, costing roughly $150 billion. The package will also include more than $100 billion in tax incentives for businesses to create jobs and invest in equipment or factories.

The overall package, of $675 billion to $775 billion, is taking shape as Mr. Obama arrived in Washington and planned to begin trying to build support in Congress and among the broader public for his approach to stimulating the economy. Mr. Obama, who flew to the capital Sunday to join his family in a hotel suite while awaiting his inauguration, planned to meet with Congressional leaders on Monday and deliver a speech on Thursday laying the ground for his emerging economic program.

Although some tax cuts were always expected to be included in Mr. Obama’s economic package, his team disclosed the scope and some details of the plans Sunday at a time when Republicans have begun voicing criticism of what they describe as an open-checkbook approach to spending. By focusing more attention on the tax cuts in the plan, Obama aides hope to frame it as a balanced, pragmatic approach.

Mr. Obama will use his public events this week to promise what one adviser called “radical reforms” to impose more control over the regular federal budget down the road. Among other areas, the president-elect will focus on changing Pentagon contracting and aid to corporate America, advisers said. He will also designate a chief performance officer and a chief technology officer Wednesday to help make government more efficient, they said.

Still, Democratic leaders in Congress acknowledged that the economic package would not be ready for Mr. Obama’s signature immediately after his inauguration Jan. 20 as they once hoped.

“It’s going to be very difficult to get the package put together that early so that it can have sufficient time to be reviewed, and then sufficient time to be debated and passed,” Representative Steny H. Hoyer of Maryland, the House majority leader, said on “Fox News Sunday.”

Mr. Hoyer said a more likely goal would be mid-February before Congress leaves on a President’s Day recess. “We certainly want to see this package passed through the House of Representatives no later than the end of this month, get it over to the Senate, and have it to the president before we break for the presidential break,” Mr. Hoyer said.

Congressional Republicans continued to press for more public hearings and study, and some of their leaders threw out their own ideas for what should be in the plan. Senator Mitch McConnell of Kentucky, the Republican leader, proposed Sunday that any money distributed to the states be provided as loans rather than outright grants.

“Nobody thinks we ought to be spending this money on things like mob museums and waterslides,” Mr. McConnell said on “This Week” on ABC. “And if the money were lent rather than just granted, states would I think spend it wisely, and the states that didn’t need it at all wouldn’t take any.”

Mr. McConnell said Republicans were more likely to favor tax relief and tax credits as part of the economic measure and said Congress should consider reducing the 25 percent income tax rate to 15 percent.

Representative Nancy Pelosi of California, the House speaker, said Congress would also take on the issue of waste in federal agencies, though she was not ready to disclose details of her approach. “We will have reforms related to waste, fraud and abuse,” she said in an interview.

Other Congressional officials said House Democrats will consider a plan this week requiring a new audit of all federal agencies and mandating Congressional hearings whenever inspectors general identify potential waste or fraud.

Mr. Obama’s team argued Sunday that the short-term cost of its economic plan was not a priority in the face of the dire problems in the economy. “There is no short run, other than keeping the economy from absolutely tanking. That’s the only short run,” Vice President-elect Joseph R. Biden Jr. said on “This Week.” He added: “We’ve got to begin to stem this bleeding here, and begin to stop the loss of jobs and the creation of jobs.”

The economic package under consideration by the president-elect and his Congressional allies would commit $675 billion to $775 billion over two years. If the tax cuts represent 40 percent of that, as Mr. Obama’s advisers said Sunday, that would mean about $270 billion to $310 billion.

About half of that would go to workers under what Mr. Obama during his campaign called the Making Work Pay credit, worth up to $500 for individuals and $1,000 for families. The Obama campaign estimated that about 150 million Americans making less than $200,000 would qualify, including those who make too little to pay federal income taxes but would receive a check that would offset Social Security and Medicare payroll taxes.

When I return home, on the day of Idul Fitri my friend for me, that he will aspire to become entrepreneurs (Entrepreneurs). A year later I met my friend again, and then I asked "What is so businessmen." He said "not yet, I have my capital (capital)."Nevertheless, he still aspire to be entrepreneurs. On the day of Eid ul-Fitr next I met my friend again, and he also not become entrepreneurs. I remember the story hehe. He said in front of the King Aaron Ar-Rashid that he will be flying. Hehe hear the word of the King Aaron Ar-Rasid said in his heart "So this is my opportunity to defeat hehe." Then Aaron King Ar-Rashid said, "O hehe. What was you said? ". "Sorry, the King, when the stage gave me a high, the servants will be flying from the stage" said hehe. "Let hehe, I will make a higher stage, but after the Friday prayer front of you should have been preparing to fly" said the King should be Ar-Rashid. "The servant ready to" answer hehe. A week later, after the Friday prayer, people have gathered in the plaza to witness hehe will be flying. Hehe wait to be king of the Ar-Rashid under the stage around the tower 12 meters high. Shortly Aaron King and the Ar-Rashid arrived in the plaza that dielu welcome by the people, then approached hehe. "You are ready Abu?" Ask Aaron King. "It is the" responsibility hehe. Hehe then climb the stage to the high above. Then he was greeted with a standing-please please panic, "How hehe flying from the stage without bringing any equipment. If the fall hehe surely die "gumam in their hearts. Hehe lift one foot and swing-ayunkan both hands like a bird will fly. Then replace the one who appointed one foot and tilt-sliding his hands again. The act was hehe repeated so that people feel bored hehe see the whimsy, and they cry "He said you will be flying. Kok only once. " Hehe replied "I only said I will be flying. During this I see. I will be flying now. " Aaron see him smiling behavior and answers hehe, and the feel lost. Hehe be given prizes. That is, if you will only become a businessman, then forever will be the only businessman and never become a businessman. This is because there are legal start a business.

Start a legal business such as law styles of a String object. It is my style, since my high school class one. My teacher said that the objects that have a quiet style String relatively higher compared with a moving object. Style It occurred when the objects will move. Similarly start in the business (business). When will start a business, big obstacle. After running the business, the obstacle is relatively small. Bottlenecks occurred during the first day of opening a business. My neighbor says to me "Pak Yanto when I open the shop on the first day, a horror house gusty once. But after running my shop, I don't no more noise on the first day I open the shop. " That is the law to start a business.

copy by M.suyanto

Conceit company executives one of the fall of the company. In 2002, Fall has been known oil company Enron, as the Executive ghoulish behavior tehadap employees with the sack employees in a large-scale, but behind the company reported still able to find funds to fund the $ 200,000 luxury box at what was called Enron Field. Polaroid Company, reported to cancel retiree health benefits, the company retired before the petition, vice manajemdilaporkan to submit petitions to the bankruptcy court to be allowed to give $ 19 million as a bonus to the executive order did not leave the company. Similarly the company Webvan CEO pay his resignation mendurkan $ 375,000 per lifetime, before the company stop operating the mem-lay employees. Owing to incidents which are published in a scene about executive greed and hubris, America is no longer believe in the big companies to a new level. United States promises the New Economy and a new era of prosperity is not limited. However, everything was groundless, Mark Ingebretsen write in the book Why Companies Fail. "Many top executives tend to build distance with the front lines. The big companies, the more likely top executives lost contact with the front lines. This can be the single most important factor that impedes the growth of the company "said Jack Trout. The experience of the failure of the world's top executive can use this as a very valuable and we do not reset again. But otherwise, the founder Sam Walton as Wal-Mart, with earthy and humble visiting front lines (clerk) from each Wal-Mart stores throughout his life. He even mengabiskan middle of night didok unloading and berbicaran with the crew. Sam Walton style of leadership that is close to the employees of the company culture slant Wal-Mart up to now. In 2003, Wal-Mart was selected as one company ranked the world's most spectacular, version of Fortune magazine.

Similarly, when Umar ibn Khatab go to Syam onta up with pembantunya. Umar pembantunya turns with the preachers onta. When Umar rise onta, the pembantunya holding the strap, and vice versa when the pembantunya up onta Umar holding the strap, so in place until it's correct. When Syam came up in turn attract the ropes Umar, the coverage is holding the rope onta Umar and sandalnya clamp down on the left armpit. Governor Syam, Abu Ubadah know, and said "O Amirul Mukminin, the official Syam has to pick you out, it is not opportune when they see you like this." Umar said, "Even with Islam because we have to be noble, it is not concerned with the spiel ". Leaders of the lead with a humble leader who is both noble in the sight of God and the human side.

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WASHINGTON — The Treasury Department on Wednesday officially abandoned the original strategy behind its $700 billion effort to rescue the financial system, as administration officials acknowledged that banks and financial institutions were as unwilling as ever to lend to consumers.

But with a little more than two months left before President Bush leaves office, Treasury Secretary Henry M. Paulson Jr. is hoping to put in place a major new lending program that would be run by the Federal Reserve and aimed at unlocking the frozen consumer credit market.

The program, still in the planning stages, would for the first time use bailout funds specifically to help consumers instead of banks, savings and loans and Wall Street firms.

Treasury officials said they hoped to invest about $50 billion from the bailout fund into the new loan facility, with the aim of helping companies that issue credit cards, make student loans and finance car purchases.

As envisioned, the Treasury would put up about 5 percent of the money that a company would use for lending and private investors would put up perhaps 20 times that much by buying bonds issued by the new program.

Despite the mind-boggling amount of money that Congress has authorized the Treasury to spend — $350 billion immediately, and another $350 billion that Congress would approve under a fast-track procedure — Mr. Paulson is running short of money and time.

The news that the government will not buy soured mortgage assets, along with a string of poor corporate earnings, disheartened investors on Wednesday, sending the markets down for a third straight day this week. The Dow Jones industrial average fell 411.30 points, or 4.7 percent, to close at 8,282.66.

The Treasury has already committed about $290 billion. It has allocated $125 billion to the nation’s nine biggest banks and investment banks; another $125 billion for publicly traded regional banks; and $40 billion to expand the existing bailout of American International Group, the insurance conglomerate that collapsed in September.

Mr. Paulson alluded to the consumer credit plan vaguely in a news conference on Wednesday, and some Fed officials cautioned that they had seen few details. But Treasury officials said such a plan would give them the biggest bang for the buck and might be enacted within several weeks.

Mr. Paulson conceded that he had scrapped the plan he originally sold to Congress in September, which was to have the Treasury Department buy hundreds of billions of dollars worth of illiquid mortgage-backed securities in order to free up banks to resume normal lending.

The program is still called the Troubled Asset Relief Program, or TARP, but it will not buy troubled assets. “Our assessment at this time is that this is not the most effective way to use TARP funds,” Mr. Paulson said.

Instead, Treasury will step up its program of injecting capital directly into banks and, for the first time, expand it to include financial companies that are not federally regulated banks or thrifts.

Mr. Paulson made it clear he would not use Treasury money to help bail out the automobile industry, rebuffing pleas from General Motors, Ford and Chrysler as well as from top House and Senate Democrats.

But Mr. Paulson left open the prospect of providing backdoor support to the car companies by offering to recapitalize nonbank financial companies like GE Capital and CIT Financial, and the financing subsidiaries of Ford, Chrysler and G.M.

House Democrats are already drafting legislation that would provide Detroit’s Big Three with an additional $25 billion, on top of $25 billion in low-interest loans that are supposed to be used for retooling factories for energy-efficient cars.

“The consequences of a collapse of the American automobile industry would be particularly troublesome,” said Barney Frank, Democrat of Massachusetts and chairman of the House Financial Services Committee. Mr. Frank said the assistance would come with strict conditions aimed at protecting taxpayers.

Some Republican lawmakers have already objected, saying the effort would amount to throwing good money after bad. But the White House on Wednesday left the door open to a legislative compromise with Congress.

“I know the automakers are important to the United States,” Mr. Paulson said. “We care about the automobile industry.” But he cautioned that “my focus is on the financial sector — getting credit going, getting lending going.”

White House and Treasury officials have been devising policy on the fly for months now, as what began as a panic over losses on subprime mortgages broadened into a crisis that wreaked havoc on Wall Street, at major commercial banks and in the broader economy itself.

In September, Mr. Paulson went to Congress and urgently pressed for authority to spend as much as $700 billion to unclog the nation’s financial pipelines by buying up unsellable securities from banks and other financial institutions.

But by the time Congress approved the bailout law in early October, Mr. Paulson and the chairman of the Federal Reserve, Ben S. Bernanke, were already shifting to a strategy he had actually opposed: buying equity stakes directly in American banks, a move that was reminiscent of European-style nationalization.

As recently as a few days ago, Treasury officials insisted that they still intended to buy up the troubled assets. But by late October, it had become clear that Plan A had become little more than a sideshow.

“Illiquid assets looked like the way to go,” Mr. Paulson told reporters at a news conference on Wednesday. But as economic and financial conditions declined so rapidly, he said, that he had to change gears. “I will never apologize for changing the approach and the strategy when the facts change,” he said.

The change in strategy has had only limited impact on the frozen credit markets. The biggest improvement has been in the willingness of banks to lend to each other, a change that largely caused by the willingness of both the United States and European governments to guarantee bank deposits and interbank loans.

But the market for commercial debt backed by consumer and business loans has remained at a near standstill since Lehman Brothers, one of Wall Street’s leading investment banks, collapsed in September.

Borrowing costs for credit card issuers are at least five percentage points higher than they were before the credit crisis began. Financing costs for automobile lenders are even higher. Even student loans that are guaranteed by the federal government have been difficult to finance.

“You have a market that is frozen,” said Alex Roever, an analyst at JPMorgan Chase.

To stretch his resources, Mr. Paulson told reporters he was examining ideas to have private investors contribute capital alongside Treasury.

Mr. Paulson also made it clear he did not want to use bailout money to refinance the mortgages of homeowners who are in danger of losing their homes to foreclosure. Democratic lawmakers and the chairman of the Federal Deposit Insurance Corporation, Sheila C. Bair, have been calling for the Treasury to spend $40 billion in a broad mortgage refinancing program.

As envisioned by Treasury officials, the Federal Reserve would set up a new special-purpose lending entity, which would lend cash to investors or companies that put up collateral in the form of consumer loans. The Fed might lend up to 80 percent of the value of those loans, providing a cushion for taxpayers against losses.

The Treasury would contribute 5 percent to 10 percent of the money to finance the lending. But the Fed would raise most of the money by selling what is known as nonrecourse commercial paper to investors.

Treasury officials said the plan would allow them to leverage the government’s money by as much as 20 to 1, meaning that the Treasury would provide 5 percent of the money and investors would provide 95 percent. Using $50 billion in money from the government rescue program, they said, could thus underwrite $1 trillion worth of lending for consumer loans.

Such an arrangement would bear a similarity to exactly the highly leveraged, and eventually disastrous, special-investment vehicles that banks like Citigroup created in countless numbers to hold, among other things, securities backed by subprime mortgages.

Although the Treasury would contribute only a small share of the money for such a program, analysts said the plan would only overcome investor fears if the Treasury or the Federal Reserve provided some kind of backstop against losses. If that were to be the case, taxpayers would be indirectly liable for the entire volume of lending.

Fed officials appeared to be taken aback by Mr. Paulson’s public reference to the idea, and cautioned that it was still in early development.

“Both the structure and the parameters are under discussion and development,” said Michele A. Smith, a spokeswoman for the Fed.

Germany has entered a recession after government figures showed that the country's economy contracted by 0.5% in the third quarter.

This is the second consecutive quarter that the economy has shrunk after a 0.4% contraction in the second quarter.

The fall in economic output was greater than the 0.2% fall that many analysts had expected.

Last week, official figures showed that German industrial output fell 3.6% in September compared with August.

"A negative effect on gross domestic product came from foreign trade, with a strong increase in imports and weakening exports," the Federal Statistics Office said.

The last time that the German economy was in recession was the first half of 2003.

"This confirms the German economy is in a marked slump," said Klaus Schruefer at SEB. "We will definitely get a further contraction in the fourth quarter, probably of a similar order," he added.

Worse to come

That pessimistic outlook was echoed by Sebastian Wanke at Dekabank: "There won't be an improvement in the fourth quarter. The situation will only get worse."

Such gloomy predictions are based on the glut of recent indicators showing a slowdown in the German economy.

Orders for goods produced by the world's largest exporter fell 8% between August and September, according to the economy ministry in Berlin. Orders from outside Europe fell 11.4%, while domestic orders dropped 4.3%.

"Anecdotal evidence and leading indicators are scary," said Carsten Brzeski at ING Financial Markets.

The European Central Bank also released its quarterly survey of forecasters on Thursday. It showed a cut in the average 2009 growth outlook to just 0.3%, from the 1.3% forecast in the last survey released in August.

"In the view of the governing council, a number of the downside risks to economic activity identified earlier have materialised," said the report.

Market reaction

The Dax index of leading German shares fell 43 points to 4,578 in the opening minutes, but recovered to 4,669 in early morning trading, up 48 points on the day.

The Cac 40 index in Paris rose 25 points to 3,259 in early trading.

The reaction of European markets was encouraging, given the heavy falls in Asian markets overnight. The Nikkei index in Japan closed down 5.3%, while markets in South Korea, Hong Kong and Australia all fell between 3% and 6%.