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 Feb 15, 2012/ 22 Shevat, 5772

Obama budget vs. Simpson-Bowles

By Robert Robb


http://www.JewishWorldReview.com | Let's assume that President Obama's budget was enacted in its entirety, down to the very last detail. What would be the federal government's financial condition at the end of its 10-year horizon?

It would stink. Really, really bad.

Federal debt is currently $16 trillion. Under Obama's budget, it would increase to $26 trillion over 10 years.

The annual cost of servicing the national debt is currently $225 billion. Under Obama's budget, it would rise to $850 billion by 2022. Debt service would increase from its present 6 percent of federal outlays to nearly 15 percent.

The federal debt currently exceeds 100 percent of annual Gross Domestic Product. Economic historians believe that is the point at which sovereign debt begins to burden the performance of the private economy and raise questions about the government's ability to pay it back. Under Obama's budget, federal debt remains above that red line for the entire decade.

The reason federal debt continues to accumulate at such alarming levels is that Obama doesn't propose to do anything meaningful to get federal spending under control.

Remember, these debt numbers are what Obama's own budgeteers project even after every tax increase he proposes for the rich is enacted, down to the very last detail, and they raise exactly what he says they will raise.

From 2007 to 2009, federal spending increased 29 percent, supposedly to deal with the turbulence in financial markets and the subsequent recession.

What Obama has done is to treat this explosion in what was supposed to be temporary spending as a new base, and continue to increase spending from the swollen base.

Forget the claims about spending and debt reduction. This is the bottom line: Obama proposes that federal spending increase from $3.8 trillion today to $5.8 trillion in 2022 — an annual rate of growth of 4.4 percent. In real, per-capita terms, the increase is 17 percent.

Basically, Obama is proposing that the country not even try to turn the corner on debt for the next decade.

An instructive comparison is the recommendations of the Simpson-Bowles debt commission. It, after all, was appointed by the president to make recommendations on reducing the national debt.

The debt commission proposed roughly the same amount of increased annual revenue as Obama's budget contains, but from broadening bases and lowering rates, not sharply increasing marginal tax rates. As Indiana Gov. Mitch Daniels has said, there are smart ways and dumb ways to get more money from the rich. The debt commission recommended the smart way.

The real difference, however, is in spending. From 2007 to 2009, federal spending leapt from 20 percent of GDP to 25 percent, again supposedly as a temporary countercyclical measure.

The debt commission proposed to get spending back down to 21.6 percent of GDP by 2015. Under Obama's budget, it remains at 22.8 percent through 2022.

The difference is enormous. From 2013 through 2020, the debt commission's recommendations would result in $2 trillion less in annual deficits than Obama proposes. For 2020, the debt commission's recommended deficit is less than half that recommended by Obama.

The debt commission offered a blueprint for turning the corner on the federal debt, breaking its peak and having it constitute a declining share of GDP over time.

Why Obama would appoint the debt commission and then largely ignore its recommendations is a political mystery and one of history's great missed opportunities.

But he did, and he has not offered an alternative approach to turning the corner on the national debt. Instead, he proposes that the country remain mired in it and threatened by it.

This Obama cannot blame on Republicans. This isn't what he is left with after recalcitrant Republicans refuse to pass his initiatives. This is actually what he proposes for the country.

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 Robert Robb is a columnist for The Arizona Republic. Comment by clicking here.

Robert Robb Archives

© 2012, The Arizona Republic

Columnists

Toons

Lifestyles