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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 Jan. 15, 2010 / 29 Teves 5770

Best Medicine To Prevent Another Recession

By Linda Chavez



http://www.JewishWorldReview.com | Could we be headed for a double-dip recession? The numbers on employment, sales, and other indicators suggest the recovery is shaky at best. Unemployment is holding steady at 10 percent, and retail sales were actually down .2 percent in December compared to the previous month. And when it comes to the confidence of the American people that the country is headed in the right direction, those numbers have declined significantly from the spring. A recent poll by the National Journal shows 55 percent of Americans believe that things are going the wrong way, compared with 42 percent who thought so in April.


It all adds up to a scary scenario: Americans unable or afraid to spend, leading to little growth opportunities for the economy as a whole. We may technically be out of the recession, but the current 2.2 percent annual GDP growth rate is so anemic, many things could cause it to slip precipitously. This is bad news for the American people — and for the leadership in Washington. Congress passed a job stimulus that failed to create jobs, then diverted its attention to passing a massive restructuring of the U.S. health care system, which only a minority of Americans support. Meanwhile, the president has remained aloof from the process, only stepping in to try to shape the legislation at the 11th hour as Senate and House conferees bicker over its final shape.


So what could the president and Congress do that might have some positive effect on the economy? First, they could admit that the health care bill they're trying to force down the American public's throat is the wrong medicine at the wrong time. Instead of meeting in secret and securing necessary votes by bribing members of Congress who are reluctant to go along, the president and congressional leadership should convene a joint press conference to announce they're putting the legislation on hold for the time being.

Letter from JWR publisher


However, the single most important thing that Congress and the president could do to help the economy recover is to hold down government spending. Government has no money of its own — something liberals seem incapable of understanding. Government gets money only by taking it away from individuals. Corporations don't really pay taxes; they simply act as tax collectors, passing on to the government in the form of corporate taxes money that would otherwise have been returned to shareholders in dividends and capital gains, to customers in lower prices, or to employees in higher wages. Government spending, therefore, is simply taking individuals' money and spending it in ways they either wouldn't — or couldn't, at least efficiently — spend it themselves.


Uncle Sam is pretty much in the same position as most American families these days: Less money is coming in and there are few opportunities to change that in the short run. So what do families do under these circumstances? Most sit down and figure out what is essential to the family's well-being and spend only on those items they must. In other words, they learn to live on less. But not so the government. Instead, Uncle Sam figures out a way to borrow more and keeps spending as if the borrowed money never had to be repaid.


We know what happens to families who take this approach — they eventually go bankrupt when lenders stop lending and demand to be paid. The process is a bit more complicated — and takes longer — when it comes to governments, but in the end, economic ruin is still the result when government continues to spend beyond the revenues it can ever hope to bring in. Mexico, Russia, Argentina, and Ecuador have all faced this in recent decades, and Iceland and Greece are among those on the brink now.


But if the president and Congress were to commit themselves to some real fiscal and regulatory restraint, it could have enormous positive impact. Right now, many businesses are worried that they will be asked to pay for new federal mandates, from health care reform to new regulations, as well as to pay higher taxes (or more accurately, to collect more taxes on the government's behalf). The uncertainty makes them less likely to hire more people or make capital investments they might otherwise.


If the feds showed some spending restraint, it might actually loosen up spending in the private sector. And that, more than anything else the government could do, would be the best medicine to aid the current recovery and prevent another recession. Could we be headed for a double-dip recession? The numbers on employment, sales, and other indicators suggest the recovery is shaky at best. Unemployment is holding steady at 10 percent, and retail sales were actually down .2 percent in December compared to the previous month. And when it comes to the confidence of the American people that the country is headed in the right direction, those numbers have declined significantly from the spring. A recent poll by the National Journal shows 55 percent of Americans believe that things are going the wrong way, compared with 42 percent who thought so in April.


It all adds up to a scary scenario: Americans unable or afraid to spend, leading to little growth opportunities for the economy as a whole. We may technically be out of the recession, but the current 2.2 percent annual GDP growth rate is so anemic, many things could cause it to slip precipitously. This is bad news for the American people — and for the leadership in Washington. Congress passed a job stimulus that failed to create jobs, then diverted its attention to passing a massive restructuring of the U.S. health care system, which only a minority of Americans support. Meanwhile, the president has remained aloof from the process, only stepping in to try to shape the legislation at the 11th hour as Senate and House conferees bicker over its final shape.


So what could the president and Congress do that might have some positive effect on the economy? First, they could admit that the health care bill they're trying to force down the American public's throat is the wrong medicine at the wrong time. Instead of meeting in secret and securing necessary votes by bribing members of Congress who are reluctant to go along, the president and congressional leadership should convene a joint press conference to announce they're putting the legislation on hold for the time being.

Letter from JWR publisher


However, the single most important thing that Congress and the president could do to help the economy recover is to hold down government spending. Government has no money of its own — something liberals seem incapable of understanding. Government gets money only by taking it away from individuals. Corporations don't really pay taxes; they simply act as tax collectors, passing on to the government in the form of corporate taxes money that would otherwise have been returned to shareholders in dividends and capital gains, to customers in lower prices, or to employees in higher wages. Government spending, therefore, is simply taking individuals' money and spending it in ways they either wouldn't — or couldn't, at least efficiently — spend it themselves.


Uncle Sam is pretty much in the same position as most American families these days: Less money is coming in and there are few opportunities to change that in the short run. So what do families do under these circumstances? Most sit down and figure out what is essential to the family's well-being and spend only on those items they must. In other words, they learn to live on less. But not so the government. Instead, Uncle Sam figures out a way to borrow more and keeps spending as if the borrowed money never had to be repaid.


We know what happens to families who take this approach — they eventually go bankrupt when lenders stop lending and demand to be paid. The process is a bit more complicated — and takes longer — when it comes to governments, but in the end, economic ruin is still the result when government continues to spend beyond the revenues it can ever hope to bring in. Mexico, Russia, Argentina, and Ecuador have all faced this in recent decades, and Iceland and Greece are among those on the brink now.


But if the president and Congress were to commit themselves to some real fiscal and regulatory restraint, it could have enormous positive impact. Right now, many businesses are worried that they will be asked to pay for new federal mandates, from health care reform to new regulations, as well as to pay higher taxes (or more accurately, to collect more taxes on the government's behalf). The uncertainty makes them less likely to hire more people or make capital investments they might otherwise.


If the feds showed some spending restraint, it might actually loosen up spending in the private sector. And that, more than anything else the government could do, would be the best medicine to aid the current recovery and prevent another recession.

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 Linda Chavez is President of the Center for Equal Opportunity. Her latest book is "Betrayal: How Union Bosses Shake Down Their Members and Corrupt American Politics". (Click HERE to purchase. Sales help fund JWR.)

Linda Chavez Archives


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