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May 25, 2012
Mark Clayton: Is Hillary's State Dept. hacking Al Qaeda? Not quite
Erika Bolstad: Temple cancels Wasserman Schultz speech
The Kosher Gourmet by Ethel G. Hofman: The former president of the International Association of Culinary Professionals, whose members included the likes of Julia Child, is back with contemporary Shavous cuisine: Ruby Fruit Soup, Sweet Noodle Kugel with Cheese, Key Lime Curd, Calsone Casserole Frittata with Wild Mushrooms, Sun-dried tomatoes and Olives, Baked Tilapia with Pepper Cheese Cream and Brown Sugar Shortbread
May 24, 2012
Jeff Jacoby: The peace process battered Israel's reputation
Michael Muskal: 'Pro-choice' position hits record low, according to poll
Chris Farrell: Are We in a Tech Bubble?
The Kosher Gourmet by Penelope Wall: PHILLY CHEESE STEAKS --- hold the steak!
May 23, 2012
Tony Pugh: More private colleges offering tuition discounts
Mary Beth Franklin: How to Choose the Right Annuity for You
Tina Susman: The wig wasn't enough: Man gets 13 years for posing as his dead mom
The Kosher Gourmet by Emma Christensen:A simple way to do fish right
May 22, 2012
Warren Richey: Can US group challenge overseas surveillance act? Supreme Court to decide
Thomas M. Anderson: Walking Away From a Mortgage
The Kosher Gourmet by Megan Gordon: Enjoy a celebration of the most rich and layered flavors: Black bean, sweet potato and quinoa chili
May 21, 2012
Mark Clayton: Cybersecurity: How US utilities passed up chance to protect their networks
Howard LaFranchi: NATO summit: Who will foot the bill for long-term Afghanistan security?
Chris Farrell : Earn Dividends in Emerging Markets with This WisdomTree ETF
Stephen Whiteside, Ph.D. : Mayo Clinic Medical Edge: Social anxiety disorder --- or just shy?
Guy Jackson : Victim's father regrets death of Lockerbie bomber
The Kosher Gourmet by Mario Batali: Famed chef's veal shoulder farsumagru: A festive meat course for late spring
May 18, 2012
Rabbi Berel Wein: Striving: The People of the Book's Book for (All of) the People
Steven Goldberg: 5 Great Stock Picks and the Exchange-Traded Fund that Owns Them
Mary Pickett, M.D.: Ask the Harvard Experts: Don't be forced into gluten-free lifestyle based merely on a doctor's false-positive test
The Kosher Gourmet by Carolyn Malcoun: DIY healthy lunchbox treats: HOMEMADE FRUIT BARS for kids and brown-bagging adults alike
May 17, 2012
Warren Richey: Teacher fired for being unwed and pregnant can sue religious school, court rules
Josh Mitnick: Netanyahu's 'centrist' coalition is already proving it's anything but
Steven Goldberg: Earn Dividends in Emerging Markets with This WisdomTree ETF
Amina Khan: Research links coffee to lower death rates
The Kosher Gourmet by Faith Duran : Cheesy Potato Breakfast Casserole with Cheddar and Sun-Dried Tomatoes
May 16, 2012
Carmen Terzic, M.D., Ph.D. : Mayo Clinic Medical Edge: A variety of exercises can help improve balance
Melissa Healy: National strategy on Alzheimer's disease aims to halt it by 2025
The Kosher Gourmet by Joyce White : GOODNESS GRACIOUS: GREENS! 4 winning recipes that are no longer just for down-home folks (Includes expert tips & techniques)
May 15, 2012
Kristen Chick: Obama administration resumes arms sales to Bahrain despite serious unresolved human rights issues. Activists feel abandoned
Pat Mertz Esswein: Homes are now affordable again and mortgage rates are low. What you need to know before you buy
Kathy Kristof: Our Practical Investor Fights Inflation with These 6 Investments
Sue Hubbard, M.D.: The Kid's Doctor: Lactose intolerant young child? Check again
The Kosher Gourmet by Kathy Hunt: Spread a Little Excitement with EXOTIC CONDIMENTS (4 RECIPES)
May 14, 2012
Lisa Gerstner: How to Protect Your Identity, Finances If You Lose Your Phone
Harvard Health Letters: Heart disease and dementia
The Kosher Gourmet by Megan Gordon: MANGO COCONUT OAT MORNING MUFFINS are a bright but hearty delight
May 11, 2012
Jessica L. Anderson: Get the Best Deal on a Used Car
Jett Stone: Forget face-lifts and fake knees. Scientists have seen the fountain of youth --- and it's broccoli
The Kosher Gourmet by Chef Mario Batali: The famed chef's vegetable dish that tastes true to the season: FAVAS AND SUGAR SNAP PEAS WITH POTATOES AND TARRAGON
May 10, 2012
Sergei L. Loiko: Putin sends warning to U.S., NATO in Victory Day speech at Red Square
Mary Rourke: How being a 'mentch' got Vidal Sasoon his start and fighting in Israel's War of Independence provided him with confidence and a strong sense of his own identity
Jeff Bertolucci: Get Home Phone Service for Less Than $10 a Month
The Kosher Gourmet by Betty Rosbottom: Gleaming with its golden, crimson, and snowy white hues, this silken smooth and creamy STRAWBERRY ORANGE TRIFLE looks impressive, but is easy to prepare
May 9, 2012
Sharon Palmer, R.D. How you can reduce your risk -- or delay -- chronic diseases associated with aging
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Jewish World Review
July 27, 2011
/ 26 Tamuz, 5771
The Road to Serfdom: More Debt, Less Leadership
By
Paul Greenberg
http://www.JewishWorldReview.com |
Looking for a clear, concise, simple explanation of why it's important -- indeed, vital -- to hold the line against raising the federal debt limit unless federal spending is cut at least as much? Then check this out:
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. ... Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
No, that isn't John Boehner, the Republican speaker of the House talking -- though it could be.
And, no, it isn't a budget hawk like Michele Bachmann, the congresswoman from Minnesota who's been making quite a splash in the run-up to the presidential primary in Iowa. Though it easily could be.
It's another of the country's leading politicians, though you'd be forgiven for not guessing which one.
It's Barack Obama. But he was speaking in March of 2006. Back then he was still talking sense.
But things have changed since then, or at least Barack Obama has. He's no longer a senator criticizing a Republican president and that president's overspending. Now he's president, and his overspending has far outdistanced that of George W. Bush's administration.
Those who grow accustomed to living beyond their means will soon enough find their means shrinking as their debt expands. Just as Sen. Obama was warning only five years ago. Five years in which the national debt has increased by more than half, going from some $9 trillion in 2006 to more than $14 trillion today.
But now he's eager to raise the debt limit still again. He brings to mind the teenager who, when told he's outspending his allowance, explains that he's not spending too much, it's just that his allowance is too small.
Since 2006, Barack Obama has discovered the joys of spending other people's money. How balance the budget? Just raise taxes on "the rich." Problem solved.
Not quite. One catch to that quick fix is that the rich, or at least their tax attorneys and tax accountants, their trust officers and estate planners, are sure to find still more ways to put their money into tax shelters -- rather than invest their capital in ventures that would produce a lot more jobs for the rest of us. And get this stalled economy rolling again.
Here's another problem with the Obama Panacea: At last report, the richest 5 percent of American earners were already paying almost 60 percent of federal income taxes, and the top 10 percent were paying 70 percent. How much more can government take without reducing the private sector, the real revenue-generator and jobs-producer of the American economy, to insignificance?
To use a metaphor as old as Aesop, how long can taxes on the largest incomes be raised without killing the goose that lays the golden eggs? How long can the highest earners be expected to bear so great a proportion of the tax burden -- and even more of it if this president has his way?
To quote Margaret Thatcher, the big problem with the tax-and-spend crowd is "they always run out of other people's money."
After a while, there just aren't enough rich folks to soak. While the high earners are paying a larger and larger percentage of income taxes, the bottom half of American taxpayers -- 50 percent -- pay only 2.7 percent of all income taxes collected.
There's something seriously askew with this picture. It indicates an imbalance that cannot be sustained indefinitely. Which is why the national debt has grown to an alarming level, and the economy is groaning under the burden of so much debt -- of just paying the interest on so much debt.
There will always be those politicians who think they've found a painless way to keep spending. Unfortunately, the pain is already being felt as prices go up and employment down.
But what, Barack Obama worry? He's got an election to win. And he knows that, responsible as cutting expenses and sharing the tax burden more equally might be, swallowing hard and exercising that kind of leadership will never be as popular as spending other people's money.
Paul Greenberg Archives
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