Wednesday, July 11, 2012

Ag Reform Bill, At $969 Billion, Is A Mammoth Waste

Although our friends in the U.S. Senate routinely dismiss common sense solutions to our fiscal crisis, they have shown little resistance in considering an expensive 1,010-page farm bill.
Dubbed the Agriculture Reform, Food and Jobs Act of 2012, this $969 billion monstrosity speaks to exactly why the American people sent us to Washington: To stop the spending, waste and corruption.
Only in Washington could this bill be considered fiscally responsible.
Despite the fact the Senate cosponsors claim this farm bill could save $23.6 billion over the next decade, the actual 10-year cost of this bill dwarfs the 2008 farm bill at a CBO-projected $604 billion.
It does not take an economist to note that a 62% increase in spending while we approach $16 trillion in debt is simply unsustainable.
In addition to its bloated numbers, this bill includes an endless parade of special interests.
Washington is picking winners and losers through a combination of price controls, import restrictions, subsidies and cash payments; and it reeks of corporate welfare in an era of record-high farm incomes and record-low debt ratios.

Read more: http://news.investors.com/article/617646/201207101751/969-billion-ag-reform-bill-is-massive-waster-of-money.htm

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