Wednesday, May 17, 2006

Farm Bill to be vetoed?

Fox News"The Senate wants to spend nearly US$4 billion (euro3.12 billion) to help farmers cope with high fuel prices and damage from severe weather. House leaders object to the aid, saying Congress spends taxpayer dollars too freely, and President George W. Bush is threatening to veto the aid.

The White House dislikes the farm aid because it raises the price of a spending bill for the Iraq war and hurricane recovery. Beyond that, the farm money wouldn't give energy relief to every farmer, said Bush's agriculture secretary, Mike Johanns.

Farmers who don't get subsidy checks — fruit and vegetable growers and many others — "would be absolutely cut out," he said.


Even without the disaster aid, the government will spend an estimated US$17 billion (euro13.26 billion) subsidizing farmers this year.

It will spend at least another US$3.6 billion (euro2.81 billion) on crop insurance, which covers unavoidable crop losses. Unlike subsidies, which go to the major crops, crop insurance is available for all kinds of crops, from avocados to macadamia nuts to sunflowers."

A check on federal spending? Its staggering how much we are spending on argiculture!!! I don't care why the increased spending check is happening, as long as it happens! What a waste of money!


Dyspraxic Fundamentalist said...

They really need to cut out that sort of wasteful interventionism.

Palm boy said...

And it only hurts in the long run, because they are no longer self sufficient. The cotten industry is in terrible shape, and has been recieving the largest subsidies for a long time.

Carey said...

Oi... our economy is going to crater. Gov spending blows my mind... and apparently the budget.

Palm boy said...

No, our economy is not going to crater any time soon. Government spending is HUGE, but still only like 30-40% of the Gross Domestic Product. We've been up to about 70%, and thats when it collapses. Right now, we're nearing very rapidly 5 Trillion in government spending.

But Bush just made some more tax cuts permant, which is another great move.

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