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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 August 8, 2011 / 8 Menachem-Av, 5771

Debt ceiling more an abyss

By Mark Steyn



http://www.JewishWorldReview.com | On Thursday, in honor of Barack Obama's 50th birthday, the Dow dropped 10 points for every year he has walked among us. It was the ninth-largest drop in history. We should be relieved he wasn't turning 80.

The markets are apparently concerned that the entire global economy may be "stalling."

You don't say? Observant fellows, these market chappies.

And yet, in a certain sense, these are still the good times. At the end of the week, U.S. Treasury yields plunged to Eisenhower-era rates. America, explained Ethan Harris of Bank of America Merrill Lynch, "still gets the safe-haven money." That's to say, as crazy as Washington is, Europe is perceived to be crazier. In confirmation of the point, over in Italy, which is (believe it or not) a G7 economy, police raided Moody's and Standard & Poor's over allegations that all the meanie things that the rating agencies have been saying about the Italian economy were having an impact on Italian stock prices. Apparently that's a crime in Italy. They're not yet shooting the messenger. But they are dragging him through the streets in chains pour encourager les autres. Good luck with that.

But I wonder if "the safe-haven money" is quite as safe as its investors assume. Under the "historic" "resolution" of the debt crisis (and don't those very words "debt crisis" already feel so last week?), America will be cutting federal spending by $900 billion over 10 years. "Cutting federal spending by $900 billion over 10 years" is Washington-speak for increasing federal spending by $7 trillion over 10 years. And, as they'd originally planned to increase it by $8 trillion, that counts as a cut. If they'd planned to increase it by $20 trillion and then settled for merely $15 trillion, they could have saved five trillion. See how easy this is?

As part of this historic "cut," we've now raised the "debt ceiling" – or, more accurately, lowered the debt abyss. Do you ever discuss the debt with your neighbor? Do you think he has any serious intention to repay the 15 trillion racked up in his and your name? Does your congressman? Does your senator? Look into their eyes. You can see the answer. And, if none of these parties seem inclined to pay down the debt now, what are the chances they'll feel like doing so by 2020 when, under these historic "cuts," it's up to 23-25 trillion?

Like America's political class, I have also been thinking about America circa 2020. Indeed, I've written a book on the subject. My prognosis is not as rosy as the Boehner-Obama deal, as attentive readers might just be able to deduce from the subtle clues in the title: "After America: Get Ready For Armageddon". Oh, don't worry, I'm not one of these "declinists". I'm way beyond that, and in the express lane to total societal collapse. The fecklessness of Washington is an existential threat not only to the solvency of the republic but to the entire global order. If Ireland goes under, it's lights out on Galway Bay. When America goes under, it drags the rest of the developed world down with it.


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When I go around the country saying stuff like this, a lot of folks agree. Somewhere or other, they've a vague memory of having seen a newspaper story accompanied by a Congressional Budget Office graph with the line disappearing off the top of the page and running up the wall and into the rafters circa mid-century. So they usually say, "Well, fortunately, I won't live to see it." And I always reply that, unless you're a centenarian with priority boarding for the Obamacare death panel, you will live to see it. Forget about mid-century. We've got until mid-decade to turn this thing around.

Otherwise, by 2020 just the interest payments on the debt will be larger than the U.S. military budget. That's not paying down the debt, but merely staying current on the servicing – like when you get your MasterCard statement, and you can't afford to pay off any of what you borrowed but you can just about cover the monthly interest charge. Except in this case the interest charge for U.S. taxpayers will be greater than the military budgets of China, Britain, France, Russia, Japan, Germany, Saudi Arabia, India, Italy, South Korea, Brazil, Canada, Australia, Spain, Turkey and Israel combined.

When interest payments consume about 20 percent of federal revenue, that means a fifth of your taxes are entirely wasted. Pious celebrities often simper that they'd be willing to pay more in taxes for better government services. But a fifth of what you pay won't be going to government services at all, unless by "government services" you mean the People's Liberation Army of China, which will be entirely funded by U.S. taxpayers by about 2015. When the Visigoths laid siege to Rome in 408, the imperial Senate hastily bought off the barbarian king Alaric with 5,000 pounds of gold and 30,000 pounds of silver. But they didn't budget for Roman taxpayers picking up the tab for the entire Visigoth military as a permanent feature of life.

And even those numbers pre-suppose interest rates will remain at their present historic low. Last week, the firm of Macroeconomic Advisors, one of the Obama administration's favorite economic analysts, predicted that interest rates on 10-year Treasury notes would be just shy of nine percent by 2021. If that number is right, there are two possibilities: The Chinese will be able to quintuple the size of their armed forces and stick us with the tab. Or we'll be living in a Mad Max theme park. I'd bet on the latter myself.

Did you know there's a U.S. Bureau of the Public Debt? Hey, why not? There's a bureaucracy for everything else. I'm sure somewhere or other there's a CBO graph showing that by 2050 all federal revenue will be going either to the Chinese Politburo or to the lavish pension plans of retired officials of the Bureau of the Public Debt. At any rate, the BPD is headquartered in Parkersburg, West Virginia, and it's easy to find because it's the only building in the state other than the Klan lodge not named after Robert C. Byrd. The Bureau uses as its motto the words of Alexander Hamilton:

"The United States debt, foreign and domestic, was the price of liberty."

But in the early 21st century foreign and domestic debt is a threat to liberty. As the Brokest Nation in History drowns in its profligacy, its commissars will grow ever more rapacious and desperate. If you think Obama's dreary attempt to blame America's woes on corporate-jet owners is unbecoming to the chief of state, wait till he's reduced to complaining about two-car families. By the way, if you're reading this out on the runway at O'Hare, what's the difference between a corporate jet landing and Obama flying in?

With Air Force One, even when they switch the engines off, all you can hear is the whining.

No author writes a dystopian apocalyptic doomsday book because he wants it to happen: Apart from anything else, the collapse of the banking system makes it hard to cash the royalty check. You write a doomsday book in hopes you can stop it happening. But time is running short. If you think we've got until 2050 or 2025, you're part of the problem.


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JWR contributor Mark Steyn is a syndicated columnist. Comment by clicking here.


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It's the end of the world as we know it…      Someday soon, you might wake up to the call to prayer from a muezzin. Europeans already are.
     And liberals will still tell you that "diversity is our strength"—while Talibanic enforcers cruise Greenwich Village burning books and barber shops, the Supreme Court decides sharia law doesn't violate the "separation of church and state," and the Hollywood Left decides to give up on gay rights in favor of the much safer charms of polygamy.
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     The future, as Steyn shows, belongs to the fecund and the confident. And the Islamists are both, while the West—wedded to a multiculturalism that undercuts its own confidence, a welfare state that nudges it toward sloth and self-indulgence, and a childlessness that consigns it to oblivion—is looking ever more like the ruins of a civilization.
     Europe, laments Steyn, is almost certainly a goner. The future, if the West has one, belongs to America alone—with maybe its cousins in brave Australia. But America can survive, prosper, and defend its freedom only if it continues to believe in itself, in the sturdier virtues of self-reliance (not government), in the centrality of family, and in the conviction that our country really is the world's last best hope.
     Steyn argues that, contra the liberal cultural relativists, America should proclaim the obvious: we do have a better government, religion, and culture than our enemies, and we should spread America's influence around the world—for our own sake as well as theirs.
     Mark Steyn's America Alone is laugh-out-loud funny—but it will also change the way you look at the world. It is sure to be the most talked-about book of the year.
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