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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 Nov. 13, 2013/ 10 Kislev, 5774

More 'great news': Why the slowest postwar economic recovery ever is stalling out

By Jack Kelly




http://www.JewishWorldReview.com | Real (inflation adjusted) median income for American households fell $2,627 during President Barack Obama's first term, according to a report released last week by the U.S. Bureau of Census.

The number of people with incomes below the poverty line rose by 6,667,000 (equivalent to the population of Massachusetts) to 46,496,000.

The slowest postwar economic recovery ever is stalling out.

The chief reasons why are:

1. Obamacare. It clobbers employment, as businesses in labor intensive industries shift workers from full to part time to avoid Obamacare mandates. About 75 percent of the new jobs created in the first six months of 2013 were part time, the Labor Department says. The labor force participation rate is the lowest since 1978.

The practical effect of the average 41 percent rise in health insurance premiums caused by Obamacare is to drain the middle class of discretionary income. Americans will have a lot less to spend on new cars, clothes, family vacations. The auto industry, retail stores, restaurants and resorts will take hits. As their sales slump, more people will be laid off, increasing unemployment, and tax revenues will fall, widening budget deficits.

2. Federal regulations. The explosive growth of federal regulations of all types has imposed enormous costs. The Code of Federal Regulations expanded from 19,335 pages in 1949 to 134,261 by 2005. The additional regulations reduced economic growth by about two percentage points a year, economists John Dawson and John Seater calculated in a paper in June. If regulations had remained at the 1949 level, the gross domestic product in 2011 would have been $53.9 trillion instead of $15.1 trillion, they estimate.



Were it not for the additional costs imposed by regulations, median household income would have been about $330,000 instead of $53,000.

The costs of regulations are greater than the Dawson-Seater study indicates, because of the explosive growth in federal regulations since 2005. The CFR now contains 174,545 pages. More than twice as many pages of regulations have been added in the last 8 years than there were in toto in 1949. And rules issued by the Obama administration tend to be broader than those issued in earlier administrations.

3. Government debt. The national debt is now $17.14 trillion. It was $5.73 trillion when George W. Bush was inaugurated; $10.63 trillion when Barack Obama was inaugurated. Our gross domestic product is $16.6 trillion. When debt held by the public exceeds 90 percent of GDP, a "tipping point" is reached in which economic growth slows to a crawl, said economists Carmen Reinhart and Kenneth Rogoff in a 2012 paper. The tipping point actually is 80 percent of GDP, other respected economists said in a paper published in June.

Because $4.76 trillion is owed by one part of the government to another -- chiefly IOUs from the Treasury to the Social Security Trust Fund -- the portion of the national debt held by the public is just 70 percent of GDP. So we haven't reached the tipping point yet.

But we may before the end of Barack Obama's term.

The debt held by the government isn't risk free. The total unfunded liabilities of the federal government -- chiefly for Social Security, Medicare, and federal employee pensions -- are more than five times the official national debt.

At some point after the tipping point has been passed, adding debt causes a catastrophic collapse.

4. Near zero interest rates. Mostly to reduce the cost to the government of servicing our massive debt, the Federal Reserve has kept interest rates artificially low since December, 2008.

Money creation by the Fed has kept stock prices artificially high, but is wiping out the savings of the middle class, pinching retirees on fixed incomes, and -- as people search for higher yields -- encouraging risky investments, such as the mortgage-backed securities whose failure triggered the Great Recession.

It takes about $268,000 in capital investment to support each full time equivalent job. The Fed is causing Americans to "consume the seed corn that would generate economic growth," said economist James Dorn.

5. Proliferation of tax laws. The Internal Revenue Code now contains about 4 million words, up 977 percent from 409,000 in 1955. The national cost of compliance is 11 percent of total income tax receipts, the IRS estimates.

If the personal and corporate income taxes and payroll taxes were replaced by a single flatter (no more than two rates) tax with few exemptions, the economy would get a big boost even if effective tax rates did not decline.

A federal government that has grown like kudzu is strangling our economy. If we prune it properly, we could trigger the greatest boom in history.

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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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