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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

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 July 25, 2011 / 23 Tamuz, 5771

The problem is spending … yet the Dems keep pushing for higher taxes

By Jack Kelly




http://www.JewishWorldReview.com | When Moody's, the bond rating agency, threatened to downgrade the credit worthiness of the U.S. government if the ceiling on the national debt isn't raised by Aug. 2, the threat was reported on the evening news on CBS and NBC, and on the front pages of many newspapers.

But journalists paid little attention when Moody's and Standard & Poor's said they would downgrade U.S. bonds if federal spending isn't cut by $4 trillion over the next ten years.

If our credit rating is downgraded, the Treasury department will have to pay a higher rate of interest to sell its bonds, ballooning the deficit. Americans will have to pay more for home and auto loans, since the interest rates on them is tied to what Treasury pays.

Raising the debt ceiling would permit Treasury to borrow more money, thus avoiding default in the short term. But borrowing more makes the risk of default greater in the long run.

The long run isn't very far off. Standard & Poor's said Monday (7/18) it will downgrade U.S. Treasuries in 90 days if a deal to cut $4 trillion from the budget isn't made by then.

Here's why Standard & Poor's is worried. In 2001, the national debt was $5.95 trillion. It's $14.34 trillion now, a 141 percent increase in just ten years.

When debt exceeds 90 percent of GDP, economic growth is reduced one to two percentage points, concluded economists Kenneth Rogoff and Carmen Reinhart. A percentage point decline means a loss of one million jobs, says the president's Council of Economic Advisers.

Debt is now about 95 percent of GDP, and going higher. The Treasury Department announced last week the budget deficit for this fiscal year will be larger than last year's $1.29 trillion.

So you'd think President Barack Obama would be as worried as are the bond rating agencies, but the evidence suggests otherwise.

Mr. Obama presented in January a budget the Congressional Budget Office estimated would add $9.5 trillion over ten years to our current $13.4 trillion national debt. It was so frivolous not a single Democrat in the Senate voted for it.

In a speech at George Washington University April 13, the president said he'd revised his budget to reduce spending by $4 trillion over 12 years. But he provided no details.

Journalists have reported as fact Mr. Obama's claim he offered $1.7 trillion in spending cuts during closed door negotiations with Republicans, but, again, the president has provided no details.

The president isn't alone in fiscal delinquency. Senate Democrats haven't presented a budget in more than two years, even though the law requires the majority party to do so each year.

House Republicans passed again Tuesday a detailed spending plan to trim nearly $6 trillion from the budget Mr. Obama submitted in January.

He'll veto the GOP's "cut, cap and balance" plan if it gets to his desk, the president said. He wants a "more balanced" plan that includes tax increases. Roughly $1.75 trillion in new taxes already are scheduled to kick in in 2013, but Mr. Obama didn't mention them.

The problem is spending. Outlays rose from $1.863 trillion in FY 2001 to $3.819 trillion (est) in this fiscal year, 105 percent in ten years. The federal government now consumes a whopping 24 percent of the gross domestic product. (Since 1903, federal spending has averaged a hair over 20 percent of GDP).

Another way to indicate the problem is spending -- specifically, Mr. Obama's spending -- is to note that if federal spending were held to what it was during President Bush's last year in office, deficits would be eliminated in four years.

Since World War II, federal tax revenues have averaged 18 percent of GDP. Income tax rates varied widely during this period, and there were both booms and busts. But revenues never exceeded 20.6 percent of GDP. That seems to be a ceiling -- no matter what economic conditions are or how high rates are raised -- and it suggests the budget cannot be balanced unless spending is held below 20 percent of GDP.

So tax hikes can't close the budget gap. But they could clobber the moribund recovery, making the deficit worse.

Democrats want Republicans to accept real tax hikes in exchange for mostly phantom spending cuts. Because they are unwilling to do so, journalists describe Republicans as "intransigent." But the truly intransigent, it seems to me, are those who want to go on spending as if there were no problem.

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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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