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February 13, 2012
Binyamin Rose: Back to the Bunker: How a life-risking act by a Christian family during the Holocaust saved a family and built a thriving community a world away
Menachem Wecker: Business Schools Teach Real Estate Despite Troubled Housing Market
February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
August 17, 2009
/ 27 Menachem-Av 5769
On stimulus, still some questions
By
David Broder
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http://www.JewishWorldReview.com |
Before the opponents of health-care reform turned congressional town meetings into shouting matches, they had picked another target. The naysayers announced to the world that the economic stimulus bill signed by President Obama in February was a dismal failure, too.
That judgment seemed premature at the time, and it looks even shakier now that the Federal Reserve Board has concluded the economy, which was in free fall last winter, has stabilized and "is leveling out."
To probe the question further, I spent the other morning at the Brookings Institution, a Washington think tank, which scheduled a panel discussion on the topic. Three Brookings scholars and a suburban Washington mayor agreed on one thing: No one can realistically pronounce the massive $787 billion stimulus bill either a flop or a triumph at this point.
As one of the panelists said, the bill that was quickly assembled and hastily passed by a Congress frightened that the economy might collapse at any moment "was a hodgepodge package, and we are getting hodgepodge results."
Economist Barry Bosworth launched the discussion on a skeptical note, saying that the recession may be ending but "the government stimulus did not have a lot to do with the recovery." He complained that last autumn, when the election was uppermost on politicians' minds, Congress was tardy in responding to the warning signs of what became the worst slump since the Great Depression. As a result, funds have been delayed in reaching hard-hit communities.
But Bosworth later conceded that when consumers' disposable income was dropping early this year at an annual rate of half a trillion dollars, the government stepped in with tax cuts, direct payments and extended unemployment benefits that "completely offset" the hemorrhaging of the private economy. "That's a pretty amazing accomplishment," he said. Other panelists pointed to more familiar accomplishments the stimulus money to states and local governments that will postpone or avoid layoffs of teachers and police. Most of those benefits have not registered yet with the public because, as school finance specialist Grover J. "Russ" Whitehurst pointed out, of the $115 billion in stimulus funds allocated to the Education Department, checks have been written for only $13 billion. A mere $25 million has been contracted for specific projects.
Obviously, this strengthens the critics' argument that much of the stimulus money all of it borrowed from our overseas creditors won't be spent until the economy is already on the mend.
But the most important thing I learned from the session was not what was right and wrong about the stimulus bill. After all, it is not likely to be rescinded or significantly altered by the Congress that passed it.
Rather, what emerged in much clearer focus is what we are likely to face when 2010, the year when stimulus spending will peak, is over and we have to figure out what to do next. At that point, Obama will be under great pressure to slow down the frantic pace of federal spending and to address the unprecedented deficits of this year and next.
But, as Amy Liu, the panel's expert on state and local finances, pointed out, the vast differences in local economies will clearly leave some cities and metropolitan areas in need of help. As of March, unemployment rates ranged from a low of 5.1 percent in Provo, Utah, to a high of 17.5 percent in Modesto, Calif. Long after Provo can dispense with federal aid, Modesto and other cities, such as Toledo and Detroit, are likely to require assistance. Congress will not be eager to pass another big national stimulus bill, but some way will have to be found to funnel funds to the places where they are most needed.
Meantime, there's no quick fix for many communities. Chris Zimmerman, a member of the Arlington County Board, pointed out that property taxes the mainstay of local budgets typically take two years to recover after the bottom of a recession. This means that at best, mayors and council members will be looking for help even when 2011 rolls around.
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