Home
In this issue
December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review January 24, 2008 / 16 Shevat 5768

Even when the left and the right aren't sure if there is a recession, they can always get together on a plan to give away money — especially in an election year

By Debra J. Saunders

Debra J. Saunders
Printer Friendly Version
Email this article

http://www.JewishWorldReview.com | Economist Kevin Hassett, an adviser to Republican presidential candidate John McCain, described the proposed $145 billion economic stimulus package being negotiated by President Bush and the Democrat-led Congress as I write this column, this way: "It's like borrowing money from the Chinese that we can then drop from a helicopter." (That quote comes from San Francisco Chronicle staff writer Carolyn Lochhead.) McCain is a long-road kind of guy and his stimulus package essentially involves making the Bush tax cuts permanent and reducing the corporate tax rate to create jobs.


It's not clear what the Bush/Democrats package will hold. Yes, there will be checks of up to $800 for taxpayers. In addition, Democrats are pushing for an extension of unemployment benefits and an increase in food stamps; Republicans want cuts in business taxes to spur job growth.


Edward Lazear, chairman of the president's Council of Economic Advisers, noted, "I find it surprising that people use words like recession" when the nation's unemployment rate is at 5 percent. On the left, Chad Stone, chief economist for the Center on Budget and Policy Priorities, noted, "We don't know [if] we're in a recession or not. We're in a weakening economy compared to the middle of last year when growth was 3 or 4 percent."


You know what that means: Even when the left and the right aren't sure if there is a recession, they can always get together on a plan to give away money — especially in an election year.


I can't say they're wrong. And because they're going to do it anyway, I hope they're right.


Stone supports a stimulus package that sends checks to low-income workers who do not pay federal income taxes, extends unemployment benefits and increases food stamps. If the economy is slowing, Stone argued, such a stimulus package would prompt families living from paycheck to paycheck to spend more — and that should boost confidence in the market.


But when Stone talks about giving so-called rebates to workers who do not pay federal income taxes — well, that's an overly generous use of money the federal government does not have. Also, it seems insane to extend unemployment benefits when the unemployment rate is at 5 percent. (The administration is likely to argue that if there is a benefit extension, it would be targeted only at high-unemployment states.)


To my concern that the stimulus package is more deficit spending, Stone has a good answer: This is a one-time shot that won't keep adding to the deficit. And: "Stimulus is triage. You worry about the long-term health of the nation; you do things you wouldn't do to a healthy nation."


From Bushworld, Lazear had a similar take. The stimulus package would keep an economic slowdown from becoming a recession. Look at it, he argued, as an insurance policy to keep "a half million Americans working who otherwise would not have jobs."


As for my fears about deficit spending, Lazear countered, "The deficit right now is very low," — 1.2 percent of gross domestic product — "let's not get hysterical about it." The big problem looming over this country comes not so much from annual spending, but from unfunded Social Security and Medicare promises.


Once again, the easy thing — spending money we don't have and sending voters checks as high as $800 — can be seen as the right thing to do. It's an argument of bad short-term behavior for a good long-term gain. Meanwhile, the day of reckoning — paying off the $35 trillion in unfunded mandates that amounts to $156,000 for every American man, woman and child — awaits.


Stanford economics professor John Taylor, also a McCain adviser, noted that McCain's opposition to personal rebates in favor of permanent tax cuts is "quite courageous. Just to increase the budget deficit by $150 billion and have marginal impact is not good policy."


That's the other hitch in this stimulus package, whatever it might be: It better work.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

Comment JWR contributor Debra J. Saunders's column by clicking here.

Debra J. Saunders Archives

© 2007, Creators Syndicate

Columnists

Toons

Lifestyles