Home
In this issue
Feb. 8, 2013

Rabbi Berel Wein: Lofty ideals must be followed with grounded applications

Clifford D. May: Letter from the West Bank
Steve Rothaus: Judge OKs plan for gay man, lesbian couple to be on girl's birth certificate
Gloria Goodale: States consider drone bans: Overreaction or crucial for privacy rights?
Environmental Nutrition Editors: Don't buy the aloe vera juice hype
Michael Craig Miller, M.D.: Harvard Experts: Regular exercise pumps up memory, too
Erik Lacitis: Vanity plates: Some take too much license
The Kosher Gourmet by Susie Middleton: Broccoflower, Carrot and Leek Ragout with Thyme, Orange and Tapenade is a delightful and satisfying melange of veggies, herbs and aromatics
Feb. 6, 2013

Nara Schoenberg: The other in-law problem

Frank J. Gaffney Jr. : A see-no-jihadist for the CIA
Kristen Chick: Ahmadinejad visits Cairo: How sect tempers Islamist ties between Egypt, Iran
Roger Simon: Ed Koch's lucky corner
Heron Marquez Estrada: Robot-building sports on a roll
Patrick G. Dean, M.D.: Mayo Clinic Medical Edge: How to restore body's ability to secrete insulin
Sharon Palmer, R.D.: 3 prostate-protecting diet tips
The Kosher Gourmet by Emma Christensen 7 principles for to help you make the best soup ever in a slow cooker
Feb. 4, 2013

Jonathan Tobin: Can Jewish Groups Speak Out on Hagel?

David Wren: Findings of government study, released 3 days before Newtown shooting, at odds with gun-control crusaders
Kristen Chick: Tahrir becomes terrifying, tainted
Curtis Tate and Greg Gordon: US keeps building new highways while letting old ones crumble
David G. Savage: Supreme Court to hear case on arrests, DNA
Harvard Health Letters: Neck and shoulder pain? Know what it means and what to do
Andrea N. Giancoli, M.P.H., R.D.: Eat your way to preventing age-related muscle loss
The Kosher Gourmet by Diane Rossen Worthington Baked Pears in Red Wine and Port Wine Glaze: A festive winter dessert
Feb. 1, 2013

Rabbi Dr. Tzvi Hersh Weinreb: Redemption

Clifford D. May Home, bloody, home
Christa Case Bryant andNicholas Blanford Why despite Syria's allies warning of retaliation for Israeli airstrikes, the threats are likely hollow
Rick Armon, Ed Meyer and Phil Trexler Ex-police captain cleared by DNA test is freed after nearly 15 years
Harvard Health Letters: Could it by your thyroid?
Sharon Palmer, R.D.: When 'healthy food' isn't
Sue Zeidler: Coke ad racist? Arab-American groups want to yank Super Bowl ad (INCLUDES VIDEO)
The Kosher Gourmet by Nealey Dozier The secret of this soup is the garnish
January 30, 2013

Allan Chernoff: Celebrating 'Back from the Dead Day'

America isn't a religious country? Don't tell Superbowl fans!
Mark Clayton Cybercrime takedown!
Germany remembers Hitler rise to power
Israel salutes U. N. --- with the one finger salute
Sharon Palmer, R.D.: Get cookin' with heart-healthy fats
Ballot riles Guinness World Records
The Kosher Gourmet by Elizabeth Passarella Potato, Squash and Goat Cheese Gratin
January 28, 2013

Nancy Youssef: And Democracy for all? Two years on, Egypt remains in state of chaos

Fred Weir: Putin: West is fomenting jihadi 'blowback'
Meredith Cohn: Implantable pain disk may help those with cancer
Michael Craig Miller, M.D. : Ask the Harvard Experts: Are there drugs to help control binge eating?
David Ovalle Use of controversial 'brain mapping' technology stymied
Jane Stancill: Professor's logic class has 180,000 friends
David Clark Scott Lego Racism?
The Kosher Gourmet by Mario Batali The celebrated chef introduces us to PANZEROTTI PUGLIESI, cheese-stuffed pastry from Italy's south


Jewish World Review April 8, 2009 / 14 Nissan 5769

A crisis Obama won't waste

By Dick Morris & Eileen Mc Gann


Printer Friendly Version
Email this article

http://www.JewishWorldReview.com | This economic crisis is too useful for Obama to want it to end. When Rahm Emanuel — and later Hillary Clinton — spoke of never letting a good crisis "go to waste," many people were shocked. But now Obama seems to embody the corollary: that the crisis should continue until he has thoroughly milked it to reshape American politics, society and the economy. Like Faust, he seems to wish that this "given moment" will "endure forever." Unlike Faust, however, he will not lose his "life and soul" to such a wish. He'll sacrifice ours instead.


First came the "stimulus package." With only about $185 billion of its $800 billion in spending to be spent in 2009, Obama clearly never intended the spending to be about stimulus but wanted the need for a stimulus to trigger the spending he wanted anyway.


Then came the Troubled Asset Relief Program (TARP) funding, often forced down banks' throats. Now comes word that even as banks want to return the money, the Treasury is making them keep it. One source at a TARP bank reports that Treasury Secretary Timothy Geithner is insisting that banks go through their "stress test" before refunding the TARP money. As Stuart Varney speculates, in The Wall Street Journal, Obama wants the banks to keep the money so he can enforce his regulations on them.


Now comes Geithner's plea for extra regulatory powers and Obama's concession to global economic regulation at the G-20 summit. Both moves are game-changers for any major American business. Geithner wants the power to take over any business — presumably in any field — whose failure would imperil the national economy. Today it's banks, brokerage houses, car companies and insurance firms. Tomorrow? Who knows?


And Obama agreed to agree on international "high standards" for the regulation of all "systemically important" companies to be promulgated by the new global Financial Stability Board (FSB). The United States, occupying one of 20 chairs on the FSB board (21 if we count the EU), will come to a consensus with other central bankers from the G-20 nations on what these regulations should say. Then the Securities and Exchange Commission, the Federal Reserve and the other regulatory arms of the U.S. government will impose them on our economy.


(Some have objected that Congress needs to be consulted, but as long as the agreements are "voluntary" and the U.S. agencies are merely "asked" to impose the regulations, no further grant of congressional authority is needed. But, of course, there will be nothing voluntary about the administration's demand that the agencies implement the coming FSB directives, no matter how intrusive they may be.)


And, finally, there is Obama's delegation of a total overhaul of the tax code to a commission headed by Paul Volcker with a mandate to report back in December of this year.


So with the tax code totally changing, Europe about to formulate regulations for our economy, the U.S. government empowered to take over any large company, the deficit and spending reaching unbelievable levels and the feds insisting on continued control of banks, what businessman in his right mind is going to invest in anything? How could even the most foolish optimist pull the trigger on a business investment without knowing the tax consequences, the regulatory framework and the policy of the banks on lending?


But Obama knows all this. He knows that his steps will delay economic recovery. But he wants these changes, not as means to an end, but as the end itself. And he is determined to get them passed and set in stone while the rubric of "crisis" justifies his doing so.


He is not unlike a leader who takes his country into war, knowing that by "wagging the dog" he can reinforce his power.


But ultimately, does Obama care if he is reelected? Doesn't he know that he needs a good economy to extend his mandate to eight years? Yes, of course he does. But he probably figures that he can turn the economy around as Election Day 2012 draws nearer and reap all the credit then. In the meantime, no good crisis should ever go to waste.

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

Insight (Our Columnists)

 Arnold Ahlert
 Mitch Albom
 Jay Ambrose
 Michael Barone
 Barrywood
 Lori Borgman
 Stratfor Briefing
 Mona Charen
 Linda Chavez
 Richard Z. Chesnoff
 Ann Coulter
 Greg Crosby
 Alan Douglas
 Larry Elder
 Suzanne Fields
 Christine Flowers
 Frank J. Gaffney
 Bernie Goldberg
 Jonah Goldberg
 Julia Gorin
 Jonathan Gurwitz
 Paul Greenberg
 Argus Hamilton
 Victor Davis Hanson
 Betsy Hart
 Ron Hart
 Nat Hentoff
 Marybeth Hicks
 A. Barton Hinkle
 Jeff Jacoby
 Paul Johnson
 Jack Kelly
 Ch. Krauthammer
 David Limbaugh
 Kathryn Lopez
 Rich Lowry
 Michelle Malkin
 Jackie Mason
 Ann McFeatters
 Dale McFeatters
 Dana Milbank
 Jeanne Moos
 Dick Morris
 Jim Mullen
 Deroy Murdock
 Judge A. Napolitano
 Bill O'Reilly
 Kathleen Parker
 Star Parker
 Dennis Prager
 Wesley Pruden
 Tom Purcell
 Sharon Randall
 Robert Robb
 Cokie & Steve Roberts
 Heather Robinson
 Debra J. Saunders
 Martin Schram
 Culture Shlock
 David Shribman
 Roger Simon
 Michael Smerconish
 Thomas Sowell
 Ben Stein
 Mark Steyn
 John Stossel
 Cal Thomas
 Dan Thomasson
 Bob Tyrrell
 Diana West
 Dave Weinbaum
 George Will
 Walter Williams
 Byron York
 ZeitGeist
 Mort Zuckerman

'Toons
 Robert Arial
 Chuck Asay
 Baloo
  Lisa Benson
 Chip Bok
 Dry Bones
 John Branch
 John Cole
 J. D. Crowe
 Matt Davies
 John Deering
 Brian Duffy
 Everything's Relative
 Mallard Fillmore
 Glenn Foden
 Jake Fuller
 Bob Gorrel
 Walt Handelsman
 Joe Heller
 David Hitch
 Jerry Holbert
 David Horsey
 Lee Judge
 Steve Kelley
 Jeff Koterba
 Dick Locher
 Chan Lowe
 Jimmy Margulies
 Jack Ohman
 Michael Ramirez
 Rob Rogers
 Drew Sheneman
 Kevin Siers
 Jeff Stahler
 Scott Stantis
 Danna Summers
 Gary Varvel
 Kirk Walters
  Dan Wasserman

Lifestyles
 Mr. Know-It-All
 Ask Doctor K
 Richard Lederer
 Frugal Living
 On Nutrition
 Bookmark These
 Bruce Williams