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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 Sept. 19, 2011 / 20 Elul, 5771

U.S. can't afford to wait until it happens

By Jay Ambrose




http://www.JewishWorldReview.com | Though the federal debt becomes more a menace daily, the Obama administration is behaving like Rep. Barney Frank when asked the consequences if people could not cough up payments on mortgages he demanded they have.

"We'll deal with that when it happens," he huffily replied as if it never would. It did. As the book "Reckless Endangerment" shows, Frank and a slew of other politicians enabled Fannie Made and Freddie Mac in a spate of corruption that ultimately ruined many buyers purchasing unaffordable homes. The further results were a fiscal crisis and the worst recession this country has seen since World War II.

It's a complicated story with private financial institutions playing no small part. The debt and surrounding issues are complicated, too. None of that means there is no distinction between responsible and irresponsible politics. What Frank did was an irresponsible invitation to a disaster recently underlined by reports on a decline in median wages and an increase in poverty. What President Obama's now up to is an invitation to a disaster that could prove many times worse.

The major factor in the latest shifts in median wages and poverty is joblessness, and Obama does have a jobs plan he is now ballyhooing across the nation. Rejoice, he says, for he wants tax cuts, only they are temporary like adjustable rate mortgages that give you low payments until adjusted. Then it's foreclosure time.

He also wants to get "fair" with income taxes, which is to say, he wants those now paying the lion's share to pay more while almost half of the workforce pays nothing and more money is taken out of the private economy. Oh yes, he wants more job-training programs that would likely do what they have done in the past -- cost a lot with pathetic result -- and he has some stimulus projects in mind that will employ some people already mostly employed.

I don't know what newspapers Obama reads, but I would guess one is The New York Times, and if he does he surely caught the front-page story about employers saying that nothing in Obama's approach would make them expand and hire more people. They want a better economy first, meaning more consumer confidence, more consumer demand and less regulation.

Obama could also learn from Solyndra, a company that was going to make solar panels. Obama, thinking central planners are wiser than millions of buyers, sellers and investors making individual decisions, decided to intervene, hoping to subsidize this and a bunch of other sure thing, future-enlarging green-job firms. The company folded. The public could be out hundreds of millions of dollars, and 1,100 employees are out of work. Meanwhile, many more fossil fuel jobs are ready to go if Obama is not ready to stop them as many fear.

If Obama won't look at the news or his own experiences, maybe he could take a glance at history. That's what Professor Kenneth Rogoff of Harvard and Professor Carmen Reinhart of the University of Maryland have done in their book, "This Time is Different," only more than a glance. They have studied 800 years of recession history. Rogoff said in an online interview that the only way to get growth -- is to do something about the debt. Not only is that the only real answer, but also debt problems can "start blowing up on you" when you least expect them.

Reinhart points out in another interview that both firms and "overstretched" households are more cautious in spending and investing because of the "uncertainties" posed by overly large public debt. Want demand? Help households relax.

That doesn't mean you've got to cut spending drastically all at once, but you do have to do more long-term restructuring than the decreases in planned increases we have so far seen from Obama's proposals and the compromise with Republicans, and he has to start with more solid ideas right away. We can't afford to wait until the worst happens.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

Comment by clicking here.

Jay Ambrose, formerly Washington director of editorial policy for Scripps Howard newspapers and the editor of dailies in El Paso, Texas, and Denver, is a columnist living in Colorado.


Previously:

09/14/11: Defending -- and strengthening -- gung ho collectivism

09/12/11: A pipeline to better times

09/08/11: Obama just keeps destroying jobs

09/06/11: Ultra-feminists thwarting justice

08/31/11: Corporations are people? Yes, Count the ways

08/26/11: What an earthquake tells us about debt

08/25/11: The tyranny of scientific consensus

08/23/11: Fracking hardly a public health threat

08/17/11: Why Obamacare won't control births

08/15/11: Balanced budget amendment unbalanced idea

08/10/11: Kerry's war on citizen speech

08/05/11: Upside to the compromise leaving the door open for obnoxious maneuvers

08/03/11: The people who may save America

07/29/11: On making deals, Obama is no LBJ

07/27/11: The threat behind the debt

07/23/11: Mean opposition to means-testing

07/20/11: Leftist babble makes debt crisis even worse

07/18/11: Time to raise demagoguery ceiling

07/13/11: Obama treating treaties badly

07/08/11: Is decline of U.S. exaggerated?

07/05/11: Not math deficiency, but demagoguery



© 2011, SCRIPPS HOWARD NEWS SERVICE

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