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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 April 10, 2012/ 18 Nissan 5772

The real data the Obama administration won't reveal

By Jack Kelly




http://www.JewishWorldReview.com | The economy's been growing at a rate less than half the average for the recoveries following the 9 previous postwar recessions. Accompanying the worst recovery ever is the longest period of sustained high unemployment since the Great Depression, the Congressional Budget Office noted.

Real average hour earnings fell 1.1 percent between February of last year and this February, said the Bureau of Labor Statistics.

Americans are being squeezed more than the BLS data indicate. The Consumer Price Index rose just 2.9 percent last year, but it doesn't include gasoline or food. The American Institute for Economic Research compiles an "Everyday Price Index," which includes only stuff the typical consumer buys at least once a month. The EPI rose 7.2 percent last year.

High unemployment, slow growth and soaring gasoline prices are the product chiefly of government policies. They can be ameliorated, swiftly and substantially, if those policies are changed. But it's too late to vote our way out of our biggest economic problem.

Our national debt is $15.623 trillion. It doesn't include the promises made to Social Security and Medicare recipients, or the pensions of federal workers ($50.5 trillion); unfunded pensions for state and local government workers ($4.4 trillion), or the $11.4 trillion we owe on home mortgages, auto and student loans, and credit cards.

Add it all up, and each American owes about $261,000. Per capita income is about $27,000.

Big trouble looms once debt exceeds 90 percent of the gross domestic product, their study of financial crises in 66 countries indicates, economists Carmen Reinhardt and Kenneth Rogoff said in their 2009 book, "This Time is Different: Eight Centuries of Financial Folly."

Our debt already exceeds 100 percent of GDP.

Trouble starts with with sluggish growth, but ends, typically, with a spectacular crash, hyperinflation and depression.

The collapse of the dollar is a mathematical certainty if we keep running large deficits, and the Federal Reserve keeps printing money to paper them over, the head of the world's largest hedge fund said last July. The crash will come late this year or early next, Ray Dalio predicted.

So it may be too late to defuse the debt bomb. But (to mix metaphors) if we know a tsunami's coming, we should get off the beach.

Private household debt has declined each year since the recession started. But politicians borrow and spend faster than ever. Debt has increased more in less than 4 years under President Obama than in 8 under George W. Bush.

Federal spending has gone up every year since 1969. Since 1970, it has risen 8 times faster than median household income. Spending has soared during the Obama administration, but real per capita disposable income has been flat since the "recovery" began, data collected by the Bureau of Economic Affairs indicate. In the private sector, the real incomes of workers have declined for a decade.

This is not coincidence. Government does more to hurt than to foster economic growth. The annual cost to comply with federal regulations rose to $1.75 trillion in 2008, a 58 percent increase since 2005, according to a Small Business Administration study. The Obama administration has added 106 new regulations with a compliance cost of $46 billion since, the Heritage Foundation estimates. Each federal regulator destroys, on average, 98 private sector jobs, the Phoenix Center calculated.

The nations which recover fast after a crash are those which sharply restrict government interference in the economy. The "economic miracle" in post-WWII Germany is the most spectacular example, but history is replete with others.

The federal government will spend about 31 percent more in the current fiscal year than was spent in FY 2008. The president's cronies benefit from the increase. Most Americans don't.

Yet when times are tough, few propose that government tighten its belt. The budget House Republicans passed last week is "thinly veiled social Darwinism," Mr. Obama said. But even under the GOP budget, federal spending rises year after year.

More Americans have been harmed than helped by the enormous growth of government.

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JWR contributor Jack Kelly, a former Marine and Green Beret, was a deputy assistant secretary of the Air Force in the Reagan administration.

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