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February 13, 2012
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Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
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Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
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Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
Feb. 5, 2009
/ 11 Shevat 5769
Stimulus in Spend City
By
Debra J. Saunders
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http://www.JewishWorldReview.com |
Back in October, after the Obama economic stimulus plan had grown from $60 billion to $175 billion and House Speaker Nancy Pelosi had doubled the amount she wanted to spend to $300 billion, I asked, "Do I hear $450 billion?"
Clearly Washington has moved beyond parody. President Obama's stimulus package started at $775 billion; the House enhanced the bill to the $819 billion mark; senators have been toying with a bill that flirts with $900 billion.
Tuesday, Obama told CNN that he thought the House was "remarkably disciplined" in putting together a stimulus package. Two weeks in office, and already Obama is talking as if he's been in Washington for too long.
Granted, Obama rightfully is concerned with containing the recession which he inherited. His first priority must be to staunch the loss of American jobs. Obama has little choice but to propose spending taxpayer money that Washington does not have.
Now the issue is how much.
Two schools of thought are at play. One side believes that the biggest danger is that Washington won't spend enough money to end the downward trend. Because this recession looks to last longer than your average nine-month slump and unemployment nationwide already is at 7.1 percent, only a huge swell can raise the boat.
They don't worry about how the accumulation of deficit spending will affect the economy in five or 10 years because, as economist Chad Stone of the nonpartisan but left-leaning Center on Budget and Policy Priorities explained, "We don't really have a choice. If we don't do the actions that produce the short-term run-up in debt now, then we just have the problem we're trying to avoid" more debt and misery.
If Washington acts to reduce federal debt after the economy stabilizes, Stone added, public debt will shrink to manageable levels.
The other philosophy was plainly stated by Sen. Tom Coburn, R-Okla., in the Wall Street Journal on Wednesday: "As a nation, we got into this mess by spending and investing money that didn't exist. We won't get out of it by doing more of the same." Aide John Hart noted that Coburn believes the stimulus bill "is about spending money we don't have on things we don't need." Sens. Susan Collins, R-Maine, and Ben Nelson, D-Neb., are talking about shaving as much as $200 billion from the Senate stimulus package.
"I'm not a big fan of the current stimulus bill," Bob Bixby of the fiscal watchdog group the Concord Coalition told me. "They should spend more time worrying about where to spend the TARP (Troubled Asset Relief Program) money and how to spend TARP II. I think that's much more important for the future of the economy than what's in the stimulus bill."
Some of the tax cuts and spending make sense, Bixby noted, as they're directed at "people who could use help, people who are out of work, or stuff that will be pretty quickly injected into the economy." Put together a plan with the right tax cuts and quick spending, and the total "might add up to $400 billion," he said.
As for the billions that go to "green" buildings, federal hiring and other programs that money should be allocated during normal appropriations.
Two more points.
First, Obama was right to argue with those who think that "tax cuts alone will solve all our problems." For one thing, some tax cuts won't stimulate the economy. "You lose the revenue, but you lose the revenue to people who don't spend it," Stone noted. For another, they add to the deficit. And worse, then you've got the problem of shutting them off.
Second, if Obama really wants to create good jobs, the stimulus package should advocate opening up the Arctic National Wildlife Refuge and Outer Continental Shelf to oil and gas drilling, as Sen. James Inhofe, R-Okla., suggested. It wouldn't cost taxpayers a dime, would raise federal revenue, create good jobs and decrease American dependence on foreign oil.
The very fact that Obamadom hasn't even thought to push for more drilling tells you that maybe this stimulus package isn't about jobs. It's about politics.
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.
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Debra J. Saunders Archives
© 2009, Creators Syndicate
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