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May: Al Qaeda vs. Hezbollah Harvard Health Letters: Fighting back against allergy season Kimberly Lankford: Grandparents who use FSA to cover grandkid's braces and other must-know info Jewz in the Newz by Nate Bloom:J ewish Tony Nominees/Tony Awards; Jewish Teen Actor In Sci-Fi Flick; Jewish singer in "Voice" finals The Kosher Gourmet by Anjali Prasertong: A tart filling so good it might not make it to the crust June 5, 2013 John Rosemond: Mom, Dad: Talk More and listen less Kristen Chick: Egypt court sentences 43 pro-democracy workers to prison Sharon Palmer, R.D.: Mushrooms Have Medicinal As Well As Culinary Value Morgan Housel: Why you never learn from your investment mistakes Don Lee: In China, kindergarten rivalry takes deadly turn The Kosher Gourmet by Sara Kate Gillingham-Ryan: 30-Minute Coq au Vin isn't a dream June 3, 2013 Molly Hennessy-Fiske: Military judge to consider letting Fort Hood shooting defendant represent himself Richard A. Serrano: Pvt. Bradley Manning's WikiLeaks trial also a test for government Mark Trumbull: Have degree, driving cab: Nearly half of college grads are overqualified Kim Lankford: What to do when long-term care insurance premiums rise Deborah Netburn: Study: Adults' mouth bacteria may help babies Jewz in the Newz by Nate Bloom: Jewish Contestant on 'The Voice'; Will Smith's 'Jewish movie family'; Bravo Gives Long Island Jews the Jersey Shore Treatment; Magicians and More The Kosher Gourmet by Bill Ward: How to be as refined as the wines at a wine tasting May 29, 2013 Andrew Connelly and Helene Bienvenu: The Little Synagogue that Refused to Die Dennis Prager: The 'Muslims-Killed-by-the-West' Lie David Clark Scott: Open war on teachers? 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Jewish World Review June 3, 2009 / 11 Sivan 5769 What's keeping Obama up? By Dick Morris & Eileen Mc Gann http://www.JewishWorldReview.com | The Rasmussen poll conducted over the weekend of May 30-31 asked a key question designed to give us perspective on Obama's current popularity. The question was whether the current problems "are due to the recession that began under the Bush administration or to the policies Obama has put in place since taking office." In other words, who's to blame, Bush or Obama? By 62-27, voters say Bush is still the culprit. As long as this opinion remains prevalent, Obama will continue to enjoy high popularity. But when it changes, as it inevitably must, we will see him begin a long, long fall. And this is the key measurement to watch. The real recession — dating from the stock market collapse — began four months before Bush left office. And it is now four months since Obama was inaugurated. From this vantage, it still looks to voters like Bush's recession. But it will become increasingly obvious that the large deficit Obama has incurred while pursuing his cure for the recession is, on its own, causing more problems than it solves. As high interest rates and, most likely, inflation, begin to set in — with no relief in unemployment — it will be obvious that Obamanomics isn't working and is, in fact, aggravating the economic trouble. Obama, recognizing the danger, has recently begun to speak out — without even cracking a guilty smile — against the huge budget deficit he created. He is trying to blame the deficit, too, on Bush. But voters will not overlook the huge spending sprees of January and February, when Obama quadrupled the 2009 deficit. They will come to see that spending as a huge mistake and will shift their blame to the new president who proposed it. Obama now faces a choice of poisons. He can leave taxes as they are and take the poison of high interest rates, rapid inflation and a new recession, all caused by the massive borrowing he has forced on the Treasury. If the Treasury cannot sell enough bonds at a reasonable interest rate, it will, of course "monetize the deficit" — economics-speak for printing money so that there will be enough to buy the Treasury debt at moderate interest rates. But the process of so vastly expanding the money supply (or even just leaving the current expansion in place without trying to soak up the extra money) will cause its own runaway inflation. Or Obama can break his pledge and raise taxes on everybody. His soak-the-rich approach will not be enough to cover the deficit. Especially when one factors in his healthcare proposals, big tax increases on the middle class become an increasing likelihood. And when we consider his cap-and-trade legislation, huge increases in utility rates also loom. Either poison will make it clear that the economy is suffering from the medicine Obama administered, rather than the original disease that started under Bush. And, of course, while we cannot predict precisely the start date of the Obama-generated misery, it's pretty clear that it will be a long-lasting pain. Neither inflation nor the pain of higher taxes is going to go away soon. And either approach will probably kindle a new recession. Some economists think we will have an L-shaped recession from which we do not emerge for years and years. Others think it will be a W-shaped recession (not Bush's W) in which we emerge briefly and then go back down again. But a U-shaped recession, in which we go down and then come bouncing back, probably cannot happen with Obama's deficits now firmly in place. Then it will become clear that the cure was worse than the disease. 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. JWR contributor Dick Morris is author, most recently, of "Fleeced: How Barack Obama and Hillary Clinton, Media Mockery of Terrorist Threats, Liberals Who Want to Kill Talk Radio, the Do-Nothing Congress, Companies ... Are Scamming Us ... and What to Do About It". (Click HERE to purchase. Sales help fund JWR.) Comment by clicking here. Dick Morris Archives © 2009, Dick Morris

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